50 Pfennig

发行方	Stadtverwaltung Glashütte (Saxony)
年份	1921
类型	Local banknote
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背面铭文	50 Pfennig / Eins, zwei, drei im Gauseschritt geht die Zeit und wir gehn mit. / Stadt-Girotasse Glashütte (Sa) / Konto No 5 / MAX RONISCH DRESDEN-A. 16
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防伪描述	Circular Flämmchen (small flame) watermark pattern visible on the obverse at left
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备注	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.

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