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50 Pfennig
| Issuer | Stadt Schwabach (City of Schwabach) |
|---|---|
| Year | 1918 |
| Type | Local banknote |
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| Obverse description | Brown-toned notgeld on plain paper, enclosed within a decorative scrollwork border in dark ink. The denomination '50 Pfennig' appears in bold lettering within a rectangular cartouche at upper centre, flanked by two heraldic coat-of-arms vignettes — the Schwabach civic arms to the left and the Bavarian arms to the right. The lower half carries a panoramic skyline vignette of Schwabach showing church spires and rooftops, above which three manuscript facsimile signatures appear with their respective official titles; the numeral '50' is set within an oval cartouche at the base of the design, with the printer's imprint 'Millizer, Schwabach' below the outer border. |
|---|---|
| Obverse lettering | 50 Pfennig Gutschein der Stadt Schwabach Schwabach, den 15. Dezember 1918 stellt. Bürgermeister. Vorsitzender des Gem.-Koll. Stadtkämmerei. 50 |
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| Comments |
Schwabach's 1918 emergency issue belongs to the vast Notgeld wave that swept German municipal authorities as small-denomination coinage effectively vanished from circulation during the war — hoarded, melted, or simply never minted in sufficient quantity to keep pace with inflated demand. Cities, towns, cooperatives, and even individual businesses were left to fill the gap themselves.
Millizer printed this locally, which was common for smaller Bavarian municipalities that lacked the connections or budget to commission Leipzig or Berlin printers. Local production kept costs down but introduced inconsistencies in paper stock and ink quality that make condition assessment across the series genuinely tricky.