50 Pfennig

Glashütte is a small Saxon town with an outsized reputation — it has been the center of German precision watchmaking since the mid-nineteenth century, home to firms like A. Lange & Söhne and later the collective that became GLASHÜTTE Original. That industrial identity almost certainly shaped the local economy's cash flow patterns, with workshop payrolls creating genuine small-denomination demand during the Weimar inflation spiral of the early 1920s.

Max Rönisch of Dresden was a prolific Notgeld printer, responsible for a substantial share of Saxony's emergency municipal issues. The watermarked paper distinguishes this issue from the cheaper unprotected stock used by many smaller communities.