This listing is for the photographed 1921 20 Pfennig German Emergency banknote. Issued by the city of Merseburg, Germany in the immediate years following World War I. Beautiful and crisp note, crow holding ring design in the center. Excellent condition and an interesting piece of history!
Notgeld was a form of emergency currency that was issued by individual German municipalities or institutions immediately after the First World War when Germany was experiencing a severe economic depression. Most notgeld contained an expiry date, after which the note was deemed invalid. The issued notes of individual municipalities and institutions pulled power from the national Reichsbank and helped to counter currency shortages from the war. Printed using recycled materials, these notes became a popular collector's item because of their attractive colors and designs, leading to the overprinting of notes and eventually hyperinflation.
This note is 103 years old this year.
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1921 20 Pfennig Merseburg Emergency Note - German Notgeld, Crow Design -Post-WWI German Inflation Note - 1921 Merseburg Twenty Pfennig Note