10 Pfennig

Münsterberg — now Ziębice in southwestern Poland — was a small Silesian market town of perhaps 6,000 inhabitants when this note was issued. The 1921 date places it squarely in Germany's Kleingeldersatz crisis, when the postwar coin shortage drove hundreds of municipal authorities to print their own fractional emergency money. What distinguishes this piece from the mass of similar Notgeld is the watermarked paper — an uncommon security measure for a 10 Pfennig token from a town of this size, where most issuers used plain stock without a second thought.