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50 Pfennig
| Issuer | Stadt Naumburg a. S. (City of Naumburg an der Saale) |
|---|---|
| Year | 1917-1920 |
| Type | Local banknote |
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| Obverse description | Light blue-grey Gutschein note with a decorative border composed of repeating Iron Cross motifs and geometric ornaments framing the entire face. The issuer inscription 'Stadt Naumburg a. S.' heads the note above the term 'Gutschein' in bold Fraktur script, with the denomination 'Fünfzig Pfennig' set in large Gothic blackletter at centre over a faint guilloche underprint; the city arms with crossed swords appear at lower left. The lower portion carries a validity clause, the issuing authority 'DER MAGISTRAT', two manuscript signatures, and a boxed numeral '50 / Pfennig' at lower right. |
|---|---|
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| Reverse lettering | Ausgegeben im Kriegsjahr 1917. STADT NAUMBURG A.S. Fünfzig Pfennig Nur giltig bis 31. März 1920. |
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| Comments |
Naumburg an der Saale's 50 Pfennig Notgeld emerged from the severe coin shortage that gripped Germany after 1916, when the public began hoarding metal currency as metal values outpaced face values. Municipal and commercial issuers across the Reich stepped in to fill the gap, and by 1917 small-denomination emergency paper was ubiquitous. The Stadt Naumburg series was printed locally — modest production, intended for genuine transactional use rather than the later collector-targeted Serienscheine that flooded the market after 1920.
The 1917–1920 date range spans the worst of wartime austerity through the early inflationary slide that preceded the catastrophic hyperinflation of 1923.