Monday, 13 August 2012
'Notgeld' or 'emergency money', is any type of money that's printed by an institution that isn't usually authorised to issue money, such as a local government or even a private business. While not legal tender, they are locally mutually-accepted as such. The German term is used because the most well known instance of this type of situation occurred in Germany at the end of World War I. The use of such emergency funds allows normal life to continue despite the complexities of coordinating central currency controls in times of hardship and difficulty.
By 1923 though, Notgeld was again emergency money in its truest sense - it was being printed in massive amounts to cope with the devastating hyperinflation problem of the Mark in Germany at the time.
More examples can be seen below. Enjoy!