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4.2 Pfennig Gold = 1⁄100 US-Dollar Flensburger Schiffbaugesellschaft
| Issuer | Flensburger Schiffsbaugesellschaft |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | 120 × 82 mm |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Log in to see details |
| Signature(s) | Log in to see details |
| Protection type | Watermark |
| Protection description | Six-pointed star (Star of David / hexagonal star) watermark in the paper stock |
| Variants | Log in to see details |
| Comments |
During the hyperinflation crisis of 1923, when the Reichsmark was collapsing daily, German businesses issued their own emergency currency — Notgeld — to keep payrolls and local commerce moving. The Flensburger Schiffsbaugesellschaft, a major shipyard on the Flensburg Fjord, denominated this note not in Marks but in Goldpfennig pegged to the US Dollar, an explicit acknowledgment that the national currency had become worthless as a unit of account.
The printer, Deutscher Verlag — the commercial arm of the local newspaper Flensburger Nachrichten — was a practical choice of proximity, not prestige. The watermark security feature is notable for a private industrial issuer at this scale.