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| 正面描述 | Plain cream paper note entirely in manuscript-style letterpress script. Serial number in top margin, denomination '50 Goldpfennig' in large cursive script at centre, with issuing authority text above and redemption conditions below. Dated 17 November 1923 at Tiengen, with two manuscript signatures in purple ink at foot. |
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| 背面铭文 | Wertbeständiger Verrechnungsschein der Elektrizitätskasse Tiengen über 50 Goldpfennig. Die Stadtkasse Tiengen nimmt diesen Schein bei Zahlung von Umlagen und Elektrizitätsrechnungen wertbeständig an. Umlaufzeit bis 31 Dezember 1923. |
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Tiengen's municipal electricity cooperative issued this note during the hyperinflation of 1923 as a local exchange token denominated in Goldpfennig — a deliberately stable unit pegged to gold value rather than the collapsing Papiermark. This was not unusual emergency currency in the typical Notgeld sense; by mid-1923, dozens of German utilities and cooperatives were issuing gold-denominated scrip precisely because the Reichsbank's paper had become functionally useless for forward-planning and account settlement.
The Elektrizitätskasse — essentially a billing and payment cooperative for electricity subscribers — would have used these notes primarily for internal transactions among members, not general retail circulation.