50 Pfennigs

Hamm's 1921 Notgeld issue belongs to the second wave of German municipal emergency money — the period when towns had largely accepted that the Reichsbank simply could not supply adequate small-denomination coinage and took matters into their own hands with some enthusiasm. By 1921, many municipalities were commissioning artistically ambitious designs, partly out of civic pride and partly because collector demand had become a genuine revenue stream. Towns printed deliberately in excess of circulation needs, selling sets directly to collectors.

Whether Hamm's issue was printed speculatively or strictly for local use is not firmly documented, but the 1921 date places it squarely in that commercially motivated phase of Notgeld production.