50 Pfennig

Osnabrück's 1921–22 Pfennig notgeld belongs to the inflationary surge that followed Germany's war reparations obligations under Versailles — municipal authorities across the Reich printed their own small-denomination scrip because Reichsbank coin simply vanished from circulation, hoarded or melted. Gebrüder Jänecke in Hannover was one of the more prolific provincial printers handling these municipal contracts, producing notgeld for dozens of Lower Saxon towns during this period.

The DeNG reference 1032.1–9/13 indicates a numbered series of at least nine design variants, which was common practice — municipalities often issued thematic sets to encourage collection and reduce redemption pressure.