50 Pfennig red issue

Ahrweiler's 1921 Pfennig issues belong to the vast wave of municipal Notgeld that flooded Germany as federal coinage vanished into hoarding and metal speculation. Carl Schleicher & Schüll in Düren were workhorses of the Notgeld boom — a paper mill turned emergency printer, supplying dozens of municipalities across the Rhineland. That they added a watermark to what was essentially a stopgap local scrip is notable; many issuers at this level dispensed with security features entirely.

The "red issue" designation in the DeNG reference distinguishes this from a parallel printing, not a later reissue.