50 Pfennigs

Mülsen-Sankt Jakob was one of dozens of small Saxon municipalities that issued their own emergency scrip during the hyperinflationary crisis of the early 1920s, when the Reichsbank simply could not keep small-denomination coinage and notes in circulation fast enough to meet demand. These Gemeinde-issued Notgeld pieces were technically provisional, meant to circulate only locally until proper currency became available — which, of course, it never adequately did.

Rats-Druckerei R. Dulce in Glauchau handled printing for several Erzgebirge and western Saxon communities during this period, producing functional rather than decorative work. Unlike the collectible "Serienscheine" Notgeld designed specifically for the philatelic market, municipal issues of this type were genuine spending instruments.