50 Pfennig

Jeßnitz is a small town on the Mulde river in Anhalt, and this 50 Pfennig note is a product of the Kleingeldersatz crisis of 1920–1922, when coin shortages forced hundreds of German municipalities to commission their own emergency paper fractional currency. C.G. Naumann in Leipzig was one of the more prolific printers of this material, supplying notgeld to scores of small Saxon and Central German communities during this period.

Collectors should note that Naumann-printed municipal issues vary considerably in print quality across the same series — ink coverage and registration inconsistencies are common and are production artifacts, not damage.