25 Pfennig

Schwarzburg is a small resort village in the Schwarza valley, administratively minor but historically tied to the Schwarzburg princely line. This 25 Pfennig note is Notgeld — emergency municipal scrip issued during the hyperinflationary spiral of the early Weimar Republic, when the central government's currency collapsed faster than the Reichsbank could replace it. Thousands of German municipalities printed their own stopgap denominations between roughly 1921 and 1923, and Eduard Giltsch of Jena was a regional printer who fulfilled many such commissions across Thuringia.

Giltsch's work on Thuringian Notgeld is generally competent but not among the prestige productions — this was functional local scrip, not the collector-targeted Serienscheine that larger cities issued simultaneously as a revenue scheme.