50 Pfennig

Löbejün was a small town in the Prussian Province of Saxony, and this note belongs to the vast wave of municipal Notgeld issued across Germany in 1921 as the postwar inflation made low-denomination Reichsmark coinage disappear from circulation almost entirely. Gebrüder Parcus of Munich handled enormous volumes of this work — the firm was one of the most active Notgeld printers of the period, producing issues for hundreds of municipalities simultaneously.

The DeNG reference suggests at least three varieties within this issue, likely distinguished by color or reverse text variants, which was common Parcus practice for small civic clients.