Notgeld

'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.

 These lovely examples are from Germany and date from 1921-22. By that stage, Notgeld was being printed almost exclusively for collectors - the emergency had passed, but the notes themselves had become coveted for their illustrations. Often these were highly decorated images from local folklore or of local scenes. These collectables were only rarely passed into circulation, which is why these examples are in such fine condition.

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!