5 Pfennig

Freienwalde in Pommern — a small market town on the Oder — issued this low-denomination Notgeld during the acute coin shortage that followed Germany's post-WWI economic dislocation. Municipal authorities across Germany were effectively printing substitute coinage at this point, and local printers absorbed the demand.

The Görlitzer Nachrichten und Anzeiger was primarily a newspaper publishing house, not a specialist security printer. That a regional press was commissioned for currency work tells you more about the chaos of 1920 Germany than any economic index could.