50 Pfennig

Neuhaus an der Weser, a small administrative community in what is now North Rhine-Westphalia, issued this note during the peak years of Germany's Kleingeldersatz crisis — the nationwide small-change shortage that prompted thousands of municipalities, cooperatives, and private firms to print their own emergency Pfennig denominations between 1919 and 1923. The Weimar government tolerated this patchwork system rather than solving it centrally, which is why surviving Notgeld collections from this period run to hundreds of issuers from a single district.

Notes from minor municipal issuers like Neuhaus were typically printed in short runs and redeemed quickly, making genuinely circulated examples harder to find than uncirculated remainders.