50 Pfennig

Bad Godesberg was still an independent Kurstadt on the Rhine when this note was issued — it wouldn't be absorbed into Bonn until 1969. Like most German municipal Kleingeld of 1920, this 50 Pfennig piece exists because the postwar coin shortage left ordinary commerce essentially paralyzed; towns across the Rhineland printed their own solutions rather than wait on Berlin.

M. Dumont Schauberg was a Cologne publishing and printing house of genuine standing, and their notgeld work tends to be cleaner than the output of smaller regional job printers. The watermarked paper is the detail worth noting — not all municipal issues at this level bothered with it.