50 Pfennig Rabattvereinigung

Altusried is a small Bavarian market town in the Allgäu, and this note is about as local as emergency currency gets. The Rabattvereinigung — a retailers' discount association — was among the more unusual issuers of German Notgeld, operating not as a municipality or savings bank but as a merchants' cooperative using scrip to keep trade circulating within the local commercial network during the currency chaos of the early 1920s.

Printed by Laner & Co. in the same town, the production chain never left Altusried. Serial numbering was the sole concession to formality.