50 Pfennig

A joint issue by the magistrates of two neighboring Bavarian cities — Nürnberg and Fürth — rather than a single municipal authority, which was unusual even by the loose standards of German wartime Kleingeld. By 1918, the chronic shortage of small coinage had pushed hundreds of German towns into emergency paper issuance, but cooperative inter-municipal notes of this kind remained rare. The practical motivation was almost certainly shared printing costs at a moment when civic budgets were under severe strain from four years of war.

The Nürnberg-Fürth tramway line, one of the oldest electric railways in Germany, had already linked the two cities since 1881 — the same administrative intimacy that likely made joint issuance politically straightforward.