50 Pfennig

Schkeuditz is a small town northwest of Leipzig, and like hundreds of German municipalities in 1918, its local authority issued Notgeld to compensate for the near-total disappearance of small coins from circulation — hoarded by a public that had watched metal coinage vanish into wartime metal drives since 1914. The Magistrat had no printing infrastructure of its own, so the job went to Gebrüder Parcus in Munich, one of the more prolific commercial printers of municipal emergency currency during this period.

Parcus handled enormous volumes of Notgeld contracts from issuers across Germany, which kept unit costs low but made individual issues largely interchangeable in execution.