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50 Pfennig

Issuer Stadtverwaltung Glashütte (Sa)
Year 1921
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Value 50 Pfennigs (50 Pfennige) (0.50)
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Reverse description Orange-toned note with a fine guilloche underprint within a dark brown border of stylised ornamental notching. The denomination numeral '50' and 'Pfennig' in Gothic blackletter appear at the upper portion, above a central rectangular vignette presenting a detailed architectural view of the Deutsche Uhrmacherschule (German Watchmakers' School) in Glashütte, flanked by a watchmaker's escapement wheel to the left and a gear wheel with a coiled mainspring to the right, all referencing the town's celebrated watchmaking industry. The lower legend reads 'Stadt-Girokasse Glashütte (Sa) Konto No 5', with the printer's imprint 'Max Rönisch, Dresden' below the border.
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Protection description Circular watermark visible on the obverse, lower left area.
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Comments

Glashütte, a small Saxon town whose identity was almost entirely bound up in precision watchmaking, issued this note during the inflationary spiral of 1921 — well before the hyperinflationary collapse of 1922–23 but already in the period when municipal authorities across Germany were filling the gap left by a chronic shortage of small-denomination coin. Max Rönisch of Dresden was a prolific printer of Saxony's notgeld, and the watermarked paper here was a minor but deliberate security gesture, unusual for notes of this denomination and this level of local issuer.

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