20 Pfennig Kurzenmoor

Kurzenmoor is a small village in Holstein, and its decision to issue notgeld reflects the acute small-denomination coin shortage that hit German municipal authorities hard from 1916 onward. Gemeinde-level issues like this one were typically authorized locally and printed in modest quantities — a Hamburg printer serving a Hamburg-area village suggests a straightforward regional arrangement rather than any coordinated emergency program.

Konrad Hanf produced notgeld for numerous small northern German issuers during this period. The runs were often tiny, and many notes were redeemed quickly once Reichsbank policy shifted toward flooding the market with low-denomination paper in 1917–1918.