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| 正面铭文 | 50 Pfennig Notgeldschein des Ostseebades Kellenhusen (Lübecker Bucht) Dieser Gutschein wird von der Gemeindekasse eingelöst gegen Vorzeigung spätestens einen Monat nach öffentl. Bekanntgabe. Der Gemeindevorstand. |
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| 背面铭文 | Fisch un Brot, so lied Hept wi immer wi keene Not. Notgeld des Ostseebades Kellenhusen 50 50 |
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Kellenhusen is a small Baltic coastal village in Schleswig-Holstein, and like hundreds of German municipalities in 1921, it issued its own emergency currency — Notgeld — to compensate for the chronic small-change shortage that had persisted since the war years. The hyperinflation crisis was still building; this 50 Pfennig note predates the catastrophic 1922–23 collapse but belongs to the same unraveling sequence.
C. Fränckel Nchfg. C. Will in Oldenburg in Holstein was a regional printer that handled Notgeld commissions for numerous local issuers in the area. Walter Siegmann, credited as designer, was likely a local commercial artist rather than a specialist banknote engraver — typical of the cottage-industry character of late Notgeld production.