50 Pfennig

Wohlau — now Wołów in Lower Silesia — was a small Prussian town that, like hundreds of similar municipalities in 1920, issued its own emergency small-change notes when the postwar coinage shortage left everyday retail transactions nearly impossible. These Notgeld issues were technically liabilities of the local savings institution rather than the municipality itself, a bureaucratic distinction that mattered for redemption claims but was invisible to anyone buying bread with one.

Selmar Bayer operated out of the SO 36 postal district of Berlin — the Kreuzberg area — and handled a substantial volume of provincial Notgeld printing during this period, most of it in short runs for issuers who never expected their paper to travel far.