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25 Pfennig Stefan Angerer

Issuer Stefan Angerer, Nürnberg
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Obverse lettering Gutschein
über 25 Pfg.
der Firma
Stefan Angerer, Nürnberg
Ansbach · Ingolstadt · Regensburg
Reverse description Plain salmon-toned reverse printed entirely in black Fraktur letterpress, with a light grey underprint of the denomination numeral '25' centred in the field and faint show-through of the obverse text visible from the thin paper stock. A five-line redemption clause in Gothic script occupies the upper portion, followed by the issuer's name in large bold type and the printer's imprint in Roman type at the foot.
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Comments

Stefan Angerer was a Nuremberg merchant or tradesman who issued this 25 Pfennig note as Notgeld — emergency small-change scrip — during the coin shortage that gripped Germany after the First World War. Municipal and private issuers alike flooded the market with such pieces between roughly 1916 and 1922, as hoarding stripped copper and nickel coins from everyday commerce. Bieling-Dietz, the Nuremberg printer responsible here, produced a significant volume of local Notgeld for regional clients during this period.

Private-name issues like this one are considerably harder to document than municipal series — the issuer's business type and exact operating dates rarely survived in accessible records.

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