50 Pfennig

Stuttgart's municipal administration issued a substantial volume of Kleingeldersatz notes in 1922, this 50 Pfennig piece among them, as chronic coin shortages — accelerated by wartime metal requisitions and postwar hoarding — left ordinary retail transactions nearly impossible to conduct. Hundreds of German municipalities, utilities, and private firms issued their own fractional emergency paper during this period, and the legal framework permitting it was loose enough that denominations and formats varied wildly from issuer to issuer.

By late 1923 the Rentenmark reform rendered the entire class of Notgeld worthless and largely obsolete. Many were never redeemed.