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50 Pfennig

发行方 Königsaue, Municipality of
年份 1921
类型 Local banknote
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背面描述 Printed in black, red, green, brown, and grey, the reverse carries the denomination numeral at upper left and right flanking the town name. A banner inscription runs above and below three pictorial panels arranged horizontally, each illustrating one of the municipality's proclaimed afflictions: a dry town well, a man with empty pockets turned out, and a pile of tax bills.
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防伪类型 Watermark
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Königsaue is a small village in Saxony-Anhalt, and like thousands of German municipalities in 1921, it issued its own emergency currency — Notgeld — to compensate for the chronic shortage of small-denomination coins during the inflationary spiral that preceded the catastrophic hyperinflation of 1923. Louis Koch of Halberstadt was a regional printer who handled Notgeld contracts for numerous local authorities across the area, which means the watermarked paper here was a deliberate step up in production quality, not a given for notes at this level.

The DeNG reference places this as variant 1a within the 721 series — suggesting at least one additional variant exists for this issuer.

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