25 Pfennig

Aschersleben's 1920 Kleingeldscheine were a direct response to the acute small-change shortage that plagued German municipalities in the early Weimar period — hoarding of metal coins had stripped local commerce of the fractional denominations it needed to function. The Magistrat issued these notes as emergency auxiliary currency, a stopgap that the national government had neither the capacity nor the coordination to prevent hundreds of towns from printing independently.

Buhe was a regional printer, and the production quality of this series reflects that — registration inconsistencies and ink variation are documented across the run.