50 Goldpfennig

Görlitz issued its own emergency fractional currency in 1923 because the hyperinflationary collapse of the Reichsmark had effectively destroyed small change — coins vanished from circulation as their metal value exceeded face value, and the Reichsbank could not print low denominations fast enough to keep pace with the daily collapse. Municipal authorities across Germany stepped into the void. The Goldpfennig denomination is notable here: unlike most Notgeld pegged to inflating paper marks, "Gold" denominations were nominally anchored to a stable gold value unit, an attempt to give the holder some protection against the currency's continued deterioration.

Printed locally by the Arbeiterdruckerei — a workers' press — the production quality reflects what was available in a mid-sized Saxon border city under severe economic strain.