- This notgeld is from Freyburg and has the value of 50 Pfennig. It shows the city of Freyburg on one side, on the other side of the note there is a silhouette depicting knights outraged at Landgrave Ludwig punishing a knight. The inscription in German reads: 'Landgraf Ludwig der Eiserne bestraft einen kleinen Ritter, der sich gegen ihn vergangen; empören sich die übrigen.Vom Edelacker ist`s die Sage.' and translates as: 'Landgrave Ludwig the Iron punished a little knight who had gone against him, at which the rest are outraged. From Edelacker is the legend'.
This is one of sixty notgeld or 'emergency money' banknotes in the reference collection of packaging material which belonged to the designer Charles Hasler. Notgeld were produced by German towns, villages and municipalities from the end of the First World War until the mid 1920s, when the state bank (the Reichsbank), struggled with wartime metal shortages and post- war hyperinflation. The highly decorative notes soon became collectors items - and still remain to this day. They are double-sided and printed with their monetary value, information about the village, town or province of issue and some colourful illustration.