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| 正面描述 | Light green guilloche underprint covers the entire face, with large numeral '20' watermark-style vignettes at left and right edges. The denomination 'Gutschein über 20 Pfennig' is printed in bold Fraktur script at the top in brown-red ink, above a serial number in red. A central text panel in Fraktur script states the redemption guarantee by the Hafenbetriebs-Verein in Hamburg e.V., Wolfgangsweg 5, with the place and date 'Hamburg, April 1920' at lower left and the issuer name at lower right. |
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| 正面铭文 | 登录 以查看详情 |
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| 背面铭文 | 登录 以查看详情 |
| 签名 | 登录 以查看详情 |
| 防伪类型 | Watermark |
| 防伪描述 | 登录 以查看详情 |
| 变体 | 登录 以查看详情 |
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The Hafenbetriebs-Verein was a Hamburg port operators' association, and this note is a product of the notgeld wave that followed Germany's post-war coin shortage. Small-denomination metal currency had effectively vanished from circulation by 1919 — hoarded, melted, or simply inadequate to the volume of petty transactions in a working port district. Associations, municipalities, and private employers across Germany issued their own paper stopgaps, often with only nominal official oversight.
The watermark security feature is worth noting — most notgeld of this period skipped it entirely, making this issue slightly more considered than the average emergency scrip.