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20 Pfennig - Kulmbach Spinnerei
| Issuer | Kulmbacher Spinnerei AG |
|---|---|
| Year | |
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| Composition | Log in to see details |
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| Diameter | Log in to see details |
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| Technique | Milled |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | Outer pearl border follows the octagonal flan, enclosing the circular legend KLEINGELDERSATZMARKE (small change substitute token) with three five-pointed stars positioned at the lower portion of the legend as stops. An inner twisted rope or cable circle separates the legend from the central field, where the large numeral 20 occupies the field in bold raised relief. |
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| Reverse lettering | KLEINGELDERSATZMARKE 20 *** |
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| Additional information |
Kulmbacher Spinnerei AG issued this zinc notgeld piece during the acute small-change shortage that paralyzed German commerce in the early 1920s, when hyperinflation made official coinage vanish from circulation almost overnight. Textile firms, mines, and factories across Bavaria routinely issued their own emergency currency redeemable only at company premises — part wage token, part captive spending mechanism.
The zinc composition dates it almost certainly to the 1921–1923 window, when base metals were the only economically viable option for private issuers. Kulmbach's spinning industry was already well-established by this period, and the firm's scrip would have circulated primarily among mill workers in the upper Franconia region.