GERMANY Notgeld 1921 25 Pfennig Uncirculated

Notgeld banknotes

Notgeld in German means "emergency" or "necessity" money and is used in numismatics to indicate issues that correspond to these characteristics.
Notgeld's first major issue began with the outbreak of World War I. Due to the inflation caused at the costs of the war, the value of the materials from which the coins were produced became greater than their nominal value. Many institutions began to hoard the coins. In addition, the metal used for minting became necessary for the production of war supplies. This caused an extreme shortage of monetary metal, which was remedied by issuing small bills