50 Pfennig Spar- und Darlehnskasse

Ländliche Spar- und Darlehnskasse Oberheldrungen u. Umgegend was a rural cooperative savings and loan institution — precisely the kind of small agricultural credit union that the Raiffeisen movement had spread across Germany in the late nineteenth century. By 1921, hyperinflationary pressure had forced hundreds of such local bodies to issue their own Notgeld, filling the coin shortage left by metal hoarding and official minting delays. This note is one of those stopgaps.

Adolf Forker in Leipzig handled a large volume of small-denomination emergency notes during this period, printing for municipalities and cooperatives across Saxony and Thuringia. Oberheldrungen itself sits in the Kyffhäuserland district, then part of the Prussian province of Saxony.