Watch List notes:

Germany, Satirical War Atrocities BI 'Taler'. AD 1921. Produced by Lauer in Nürnberg. * SCHWARZE SCHMACH UND KULTURSCHANDE AM RHEIN around uniformed African Poilu soldier holding rifle and bayonet, harassing semi-nude German woman / Broken sword; DEUTSCHER NOT UND SCHMACH TALER above. 19.90g, 38mm, 12h.

Extremely Fine.

From a private European collection.