50 Pfennigs

Kleve's 1921 Notgeld issue was one of thousands of municipal emergency notes flooding Germany during the postwar inflationary spiral, when chronic coin shortages forced cities, towns, and even private businesses to print their own fractional currency. Gebrüder Parcus of Munich was among the more prolific printers of Notgeld series during this period, handling commissions from municipalities across the Reich — their output was technically competent and commercially efficient.

The city's name appears on the note in its older spelling, "Cleve," the form long favored in official and historical usage, though the modern "Kleve" had already been gaining ground. By late 1923, inflation rendered all such Pfennig-denomination notes worthless almost overnight.