50 Pfennig

Cologne's municipal Notgeld program was among the more administratively coherent in Weimar-era Germany — the city issued scrip in genuine response to the postwar small-change shortage rather than for the collector trade that was already corrupting many parallel series by 1921. M. DuMont Schauberg, the Cologne printing house, had deep roots in the city's press culture, primarily as a newspaper publisher; their involvement here was a practical choice of proximity, not prestige.

The 86 × 46 mm format is notably narrow for the denomination, a deliberate compression to reduce paper costs at a moment when raw material procurement was genuinely difficult for municipal budgets.