1 Pfennig

Traunstein's 1920 Pfennig notgeld belongs to the smallest denomination tier of the German emergency money wave that followed the chronic coin shortages of the First World War and its immediate aftermath. At the sub-Mark level, these fractional pieces were almost entirely a local convenience instrument — printed to plug gaps in everyday retail transactions that federal coinage simply couldn't fill. The Stadtrat issued them on its own authority, as hundreds of German municipalities did between 1916 and 1922, with no central oversight of design or print runs.

The DeNG reference places this firmly in the documented Traunstein series, though survival rates for single-Pfennig pieces are disproportionately low — their face value made them easy to discard once the notgeld period ended.