50 Pfennig

Perleberg's 1921 Notgeld issue belongs to the second wave of municipal emergency currency that flooded Germany as the Reichsbank struggled to keep small denominations in circulation during the inflationary spiral following the First World War. The city of Perleberg — a small market town in the Prignitz region of Brandenburg — was among hundreds of municipalities authorized to print their own fractional notes when coin hoarding made change practically impossible in everyday commerce.

The DeNG reference grouping (variants 1–4 and 6) suggests at least five distinct printings or design variants exist within this single denomination, which is typical of Prignitz-area Notgeld where local printers sometimes changed paper stock or ink between runs without formal reissue documentation.