50 Pfennigs

Kleve's 50 Pfennig notgeld of 1921 belongs to the second wave of German municipal emergency currency — issued not during the acute wartime shortages of 1914–18 but during the prolonged economic dysfunction that followed, when small-denomination Reichsmark coinage had all but vanished from everyday commerce due to hoarding and metal scarcity.

Gebrüder Parcus in Munich were among the more prolific quality printers of Bavarian and Rhenish notgeld, handling commissions from dozens of municipalities simultaneously during this period. Kleve, sitting hard against the Dutch border in the occupied Rhineland, had particular reason to keep local exchange media functional — cross-border trade with the Netherlands meant that even small denomination shortfalls were felt immediately.