50 Pfennig

Kleve's 1921 Notgeld issue belongs to the second wave of German municipal emergency currency — after the acute postwar shortages of 1914–18 but well ahead of the hyperinflationary collapse that would make Notgeld effectively worthless by late 1923. Gebrüder Parcus in Munich was one of the more prolific specialist printers of this material, producing issues for dozens of German municipalities simultaneously, which kept unit costs low enough to make small-denomination runs economically viable for a city Kleve's size.

The DeNG reference suffix ".1 2/4" indicates this is the first of four known typographic or color variants within the 231 series — worth noting for collectors assembling a complete run.