50 Pfennig

Lobenstein was a small residential town in the principality of Reuss jüngerer Linie, one of the minor Thuringian states that had dissolved into the new Weimar Republic just months before this note appeared. Like hundreds of German municipalities in 1919, the town issued its own Kleingeldersatz — small-change substitutes — to address the acute coin shortage that followed the war and the economic disruption of demobilization. The Gebrüder Parcus firm in Munich handled an enormous volume of this Notgeld work, supplying dozens of municipalities across southern and central Germany with printed emergency issues.

The DeNG reference places this within a three-variant series for Lobenstein, distinguishing issues by minor typographic or color differences that are easily overlooked without direct comparison.