50 Pfennig

Grossenhain is a small administrative district in Saxony, and like hundreds of comparable Amtshauptmannschaften across Germany in 1920, it issued its own emergency paper fractional currency — Kleingeldscheine — to address the chronic coin shortage that persisted well into the postwar years. The Reich Mint simply could not produce enough small-denomination coinage to meet demand, and local authorities were formally permitted to fill the gap through regional note issues.

These Saxon district issues were typically printed in short runs and redeemed within months. Survival rates vary sharply even among notes from the same series.