75 Pfennig

Kneitlingen, a small village in Lower Saxony, claims fame as the reputed birthplace of Till Eulenspiegel, the medieval trickster figure whose exploits were first compiled in print around 1510. The municipality leaned heavily on that association when commissioning this Notgeld issue — the Eulenspiegel connection was a deliberate piece of local identity politics at a moment when hundreds of German towns were competing to issue attractive small-denomination emergency currency that collectors would hoard rather than spend.

Günther Clausen's involvement places this among the more deliberately artistic Notgeld pieces of the 1921 wave. The print date of 30 April 1921 anchors it firmly in the inflationary transitional period before the hyperinflation of 1922–23 made such denominations meaningless.