50 Pfennig

Coburg's postwar notgeld program is historically unusual for a reason that has nothing to do with the money itself: the city voted in 1919 to join Bavaria rather than the newly formed state of Thuringia, making it the only German city to change its state affiliation by popular referendum under the Weimar constitution. This note was issued in the middle of that political uncertainty, when municipal governments across Germany were printing their own emergency fractional currency to address the severe coin shortage left by wartime metal requisitioning.

J. Adolf Schwarz of Lindenberg im Allgäu was a small commercial printer that handled notgeld commissions for numerous Bavarian and Swabian municipalities during this period — a regional job printer, not a security press.