25 Pfennig

Kleve's 1920 Notgeld issue belongs to the enormous wave of municipal emergency currency that flooded Germany during the postwar coin shortage — by 1920, the Reichsbank had essentially abandoned any attempt to keep small denominations in circulation, leaving cities to fend for themselves. The Stadt Cleve spelling on this note reflects the older French-influenced orthography still in official use before the name was standardized to "Kleve" in later decades.

The single signature, d. Wulff, likely represents a senior municipal finance official rather than a bank signatory — Notgeld of this type carried administrative rather than banking authority.