50 Pfennig

Quedlinburg's 1922 Notgeld series was designed by Otto Markus and printed locally by H. Meyerding — an arrangement typical of the small-municipality emergency currency boom that peaked in Germany between 1921 and 1923, when hyperinflation outpaced the Reichsbank's ability to supply adequate small-denomination coinage and notes. Hundreds of German towns commissioned their own series, often treating the exercise as much as a revenue source from collector sales as a genuine monetary stopgap.

Quedlinburg had particular cultural capital to draw on — the town's Romanesque collegiate church and its status as a Ottonian imperial burial site gave local artists ready material. Whether Markus leaned on that history is visible in the imagery, but the Meyerding printing is competent lithographic work, not exceptional.