50 Pfennig

Daler is a small town on the island of Als in southern Jutland — territory Germany had held since the Second Schleswig War of 1864 and lost back to Denmark following the 1920 plebiscite. This note was issued precisely in that transitional year, making it one of hundreds of municipal Notgeld pieces that flooded the German economy as central authority weakened and small communities scrambled to cover change shortages.

The DeNG reference distinguishes two varieties (253.1-2), likely differentiated by a minor printing or watermark variation. L. Thaysen as designer points to local Schleswig-region artistic involvement, though the printing house is unrecorded in this catalog entry.