50 Pfennig

Steinfeld is a small municipality in the Schleswig region — historically contested territory between Germany and Denmark, and the site of a plebiscite held in March 1920, the very year this note was issued. The timing is not coincidental. The Schleswig plebiscites divided the region along a north-south line, and municipalities scrambled to maintain local commerce amid currency shortages and political uncertainty.

A print run of over twelve million for a village-level issuer is striking — almost certainly printed centrally and distributed across multiple participating municipalities rather than produced for Steinfeld alone. Worth investigating whether the same plate series covers neighboring Schleswig communes.