50 Pfennig

Hohndorf is a small village in the Erzgebirge foothills, and like hundreds of similarly sized German municipalities in 1921, it issued Notgeld not because of any local financial crisis but because the Reichsbank simply couldn't produce enough small-denomination coinage to keep pace with early Weimar inflation. The Ratsdruckerei R. Dulce in Glauchau — a municipal print shop serving the broader Chemnitz region — handled a considerable volume of these communal issues, which accounts for the family resemblance between notes from otherwise unrelated towns.

Hohndorf's issue is among the more ephemeral of the Bezirk Chemnitz series. Many were redeemed promptly once the shortage eased, and the survival rate reflects that brevity of use.