50 Pfennig

Neustadt in Mecklenburg is a small town, and like hundreds of German municipalities in the early 1920s, its local administrative body — the Amtsausschuss — issued Notgeld to plug the gap left by a chronic shortage of small-denomination coinage. The hyperinflationary spiral had not yet peaked in 1922, but the coin shortage had been grinding on since the war years, making low-value paper issues a practical necessity at the local level rather than a political gesture.

The designer credit to "Heinberg" is noted in the literature but has not been conclusively tied to a known commercial artist or printing firm.