5 Pfennig Gold

Guben sits on the Neisse River, and in 1923 the town's magistrate was doing what hundreds of German municipalities were doing: printing its own emergency money because the Reichsbank's hyperinflationary output had become functionally useless. The "Gold" denomination is the telling detail — by mid-1923, issuers had largely abandoned mark-denominated notgeld in favor of gold-backed or gold-equivalent values, since any figure in paper marks was obsolete before the ink dried.

Flemming & Wiskott were prolific notgeld printers, handling municipal commissions across Silesia and Brandenburg simultaneously. Their multi-city operation — Glogau, Berlin, Breslau — reflects the sheer production volume the inflation period demanded.