25 Pfennig

Jena's 1919 Notgeld issue belongs to the first major wave of German municipal emergency currency, printed as the Reichsbank struggled to supply small-denomination coinage following wartime metal requisitioning and the economic chaos of the immediate post-armistice period. Cities and towns across Germany were legally permitted — and practically forced — to fill the vacuum themselves.

The serial number is the only security feature, which was entirely typical for municipal issues of this class and did nothing to discourage counterfeiting — though the negligible face value made forgery barely worth the effort.