25 Pfennig

Schleiz Notgeld from 1919 falls squarely into the first wave of German municipal emergency money — issued when the postwar coin shortage became acute and the Reich simply could not produce enough small denomination coinage to keep local commerce moving. The Stadt Schleiz, a small administrative center in the Thuringian principality that had ceased to exist just the previous year with the abdication of Heinrich XXVII, was among hundreds of towns that printed their own solutions.

At this size and weight, these slips were notoriously easy to lose, damage, or simply discard once federal coinage returned — which is why genuinely uncirculated survivors are rarer than the series' modest historical profile might suggest.