50 Pfennig

Lennep is a small town in the Bergisches Land, now absorbed into Remscheid since 1929 but still an independent municipality when this note circulated. Like thousands of German towns in 1921, it issued Kleingeldersatz — small-change substitutes — to compensate for the near-total disappearance of coins from circulation as inflation began accelerating and metal hoarding intensified.

J. Adolf Schwarz in Lindenberg im Allgäu was a prolific Notgeld printer serving dozens of issuing authorities across Germany during this period, which is why the production quality varies little between notes from entirely different regions.