50 Pfennig

Graal was a small Baltic seaside resort on the Mecklenburg coast, and like hundreds of German municipalities and local bodies in the early 1920s, its spa administration issued its own Notgeld to address the acute small-denomination coin shortage that followed the First World War. What separates Graal's issue from most of the utilitarian emergency paper flooding Germany at the time is the involvement of Egon Tschirch, a Rostock-based painter and graphic artist with genuine regional standing, whose work gives the note an artistic seriousness unusual for municipal scrip of this type.

Tschirch contributed designs to several Mecklenburg Notgeld issues during this period. The dual signatures — Haifert and Lorenz — almost certainly represent spa administration officials rather than bank officers, reflecting who actually had authority to back the issue locally.