50 Pfennig

Benneckenstein is a small town in the Harz mountains, and like hundreds of German municipalities in 1921, its Magistrat issued emergency fractional paper — Kleingeldscheine — to address the chronic shortage of low-denomination coinage that had effectively disappeared from circulation during and after the First World War. The Reichsbank was in no position to plug that gap at the municipal level, so local authorities took matters into their own hands, producing notes that varied wildly in print quality and design ambition.

The DeNG reference places this among a group of four or five closely related varieties within the same series — minor differences in serial numbering, signature arrangement, or print run date typically account for such sub-listings.