5 series of antisemitic Notgeld. Germany, early 1920s.
Included in the series: “The Drowning Jew” – a note issued in Brakel, Germany – a Jew on the guillotine beside another Jew in Eastern European garb inside an iron cage attached to a crane, drowning him in the river, with the caption: “This is how we used to punish thieves in Brakel!” Another note from Brakel shows an Eastern European Jew holding his baby out of a window to relieve himself, while the Bürgermeister (mayor) passes below, with the antisemitic caption: “Why should we let the Jews do their business on us?” Also included is the six-note series “The Jewish Profiteers” issued in Arnstadt, Notgeld notes displaying old German castles with texts about the greatness of Germany; the Whisperer series from Altona; and more.
The Notgeld, or emergency currency, was issued in Germany and Austria during the economic distress and extreme inflation following World War I in the early 1920s. These notes were officially issued by the state (Reichsbanknotes) and often by small towns and businesses (Notgeld), and they reflect the widespread antisemitism that existed in Germany and Austria during that time – the same antisemitism that enabled the rise of the Nazi party, which portrayed itself as the savior from the economic depression Germany was experiencing and blamed the Jews as scapegoats.
26 notes in total. The notes are in very good condition.









