50 Pfennig

Warnemünde's 1922 Notgeld issue belongs to the vast wave of municipal emergency currency that flooded Germany during the hyperinflationary spiral following the First World War. Small coastal towns like Warnemünde — the Baltic fishing and ferry port at the mouth of the Warnow — issued their own Kleingeld not merely out of necessity but often with a deliberate eye toward the collector market, a phenomenon that had become a recognized commercial enterprise by 1921–22.

The GrM reference places this within the Grabowski-Mehl Notgeld catalog, series 1379, with three known variants distinguished by design or color differences rather than date. Collectors should note that third-variant examples of this series circulate less freely on the secondary market than the first two.