50 Pfennig

Ettlingen's 1921 Pfennig-denomination notgeld belongs to the inflationary transitional period when municipal authorities across Germany were still issuing small-denomination emergency money — before hyperinflation rendered low-value paper effectively pointless by 1923. The city printed locally, which was relatively uncommon; most comparable municipalities contracted with Leipzig or Berlin printers to handle the volume.

Schnerrenberger is an unusually obscure credit, almost certainly a local commercial artist rather than a professional plate engraver.