50 Pfennig

Böel is a small parish in Schleswig, and this note is a product of the hyperinflationary Notgeld wave that swept German municipalities in the early 1920s. Amtsbezirk Böel had no meaningful monetary infrastructure of its own — the note exists purely because the Reichsbank could not supply enough small-denomination coin and currency to keep local commerce moving. Aug. Westphalen was a Flensburg commercial printer, not a security press, which is exactly what you'd expect from emergency issues at this administrative level.

The designer credit to Holtz is unusual to see recorded at all for a note this minor.