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| 正面描述 | Printed on pink paper in black letterpress typography, the obverse is framed by a double-rule rectangular border with decorative corner elements. The heading reads 'Gutschein über' in Gothic script, flanked at upper left and right by ornamental rosette vignettes above the initials 'S.F.'; the large central denomination '50 Pfennig.' is rendered in bold Gothic typeface. Below, a redemption clause states that ten such vouchers may be exchanged for 5 Mark in cash at the issuer's offices, followed by the place and date of issue 'Neustadt O.-S., 1. 11. 1919.' and the issuer's name 'S. Fränkel.' A cancellation perforation in the form of the letters 'S.F.' is visible at upper right. |
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| 背面铭文 | No [serial number] 50 Pfg.-Gutschein nur bei Lohnzahlungen von mir verausgabt und nur in meinen Betrieben umlaufsfähig. S. Fränkel. |
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S. Fränkel was a private merchant or business in Neustadt Oberschlesien — present-day Prudnik, Poland — issuing this 50 Pfennig note during the acute small-change shortage that gripped Germany in the immediate postwar period. Municipal and private Notgeld flooded the market in 1919 precisely because the Reichsbank could not supply sufficient low-denomination coinage. Thousands of local issuers stepped in, with varying degrees of official tolerance.
The perforation as a security feature is characteristic of the more rudimentary private issues — a low-cost counterfeit deterrent where proper intaglio printing was neither accessible nor economically justified for a single merchant.