50 Pfennig

Quedlinburg's 1922 Notgeld issue belongs to the wave of municipal emergency currency that flooded Germany during the inflationary spiral following the First World War. With the Reichsbank unable to supply sufficient coinage and small-denomination notes, thousands of German towns and cities printed their own — and many, like Quedlinburg, commissioned locally distinctive designs rather than generic stock imagery. Fenzlau's involvement suggests a local commercial artist rather than a specialist banknote engraver, which is consistent with the informal procurement typical of municipal Notgeld.

H. Meyerding was a Quedlinburg printer, not a security printing house, so these notes lack the intaglio printing and security features of Reichsbank issues.