75 Pfennig

Freiberg's 75 Pfennig notgeld of 1921 sits in the middle of Germany's inflationary emergency currency boom, when hundreds of municipalities took it upon themselves to print small-denomination notes to ease the chronic coin shortage that had persisted since the war years. What makes Freiberg's output worth noting is that the city used a local printer — Ernst Lange, based in Freiberg itself — rather than outsourcing to one of the large commercial houses in Leipzig or Dresden that handled bulk notgeld production for much of Saxony.

The watermarked paper adds a degree of production intent unusual for municipal issues of this value and scale.