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50 Pfennig

Issuer Stadtgemeinde Emmendingen
Year 1921
Type Local banknote
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Obverse description The obverse is printed in dark brown on a cream ground and divided into three vertical panels by a decorative border. The left panel carries a detailed letterpress vignette of the Markgräfliches Schloss (labelled 'Markgr. Schloss'), while the right panel shows the ruined Hochburg castle (labelled 'Hochburg'), both rendered in fine engraved style. The central panel, framed by a lightly printed circular underprint of the municipal seal, bears the text of the voucher in Gothic blackletter script, with the denomination 'Fünfzig Pfennig' in large calligraphic lettering, the date and place of issue, and the manuscript signature of the Bürgermeister above his printed title; the denomination numeral '50' appears in circular cartouches at lower left and right, and 'Fünfzig Pfennig' is repeated along the bottom ribbon.
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Reverse description The reverse is printed in blue-grey on a pale ground and centred on a large panoramic vignette of Emmendingen im Breisgau, showing the town's rooftops and church spires set against a wooded hillside and clouded sky, enclosed within an ornate wreath of stylised foliage. The denomination numeral '50' appears in each corner, and a ribbon cartouche at the foot of the vignette carries the town name.
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Comments

Emmendingen's 1921 notgeld issue belongs to the second wave of German municipal emergency currency — the inflationary phase that followed the immediate postwar shortage notes. By 1921, many towns were printing these not out of genuine necessity but because the collector market had turned them into a minor revenue stream. Whether Emmendingen's motivation was practical or speculative is worth considering when assessing surviving quantities.

The Stadtgemeinde, a small Baden administrative commune near Freiburg, had no banking infrastructure of its own — redemption obligations for these notes rested on municipal goodwill that became increasingly hollow as hyperinflation accelerated through 1922 and 1923.

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