10 Pfennig

Sankt Goarshausen sits on the east bank of the Rhine directly opposite Sankt Goar, at the base of the Loreley cliff — a town whose entire economic identity was tied to river traffic and tourism. Municipal notgeld of this type was issued during the post-WWI currency chaos of 1918–1921, when small-denomination coinage had effectively vanished from circulation hoarded or melted, and thousands of German towns and cities were left to print their own fractional paper.

The Grabowski and Vaatz references place this firmly in the first wave of necessity issues rather than the later "collector series" notgeld printed speculatively for the philatelic trade — a meaningful distinction for anyone building a serious notgeld collection.