25 Pfennig

Oranienbaum — now Oranienbaum-Wörlitz, in Saxony-Anhalt — issued this Notgeld during the acute small-change shortage that gripped Germany in 1917–1921, when hoarding of metal coins left ordinary commerce nearly paralyzed. Municipalities across the country were authorized to print their own emergency fractional notes, and hundreds did. Oranienbaum's was printed locally by its own Buchdruckerei, which accounts for the modest production quality typical of in-house municipal jobs.

The P#1024 series spans at least three catalogued variants, differentiated by date or text detail. Worth examining closely before assigning a specific sub-type.