1 Pfennig - Henry XVI

Bavaria-Landshut was the wealthiest of the four Wittelsbach partition duchies created by the division of 1392, and Henry XVI — called "the Rich" — spent much of his reign leveraging that wealth against his cousins in the other Bavarian lines. His refusal to participate in a proposed reunification of the duchies kept Landshut independent through his entire tenure, which ended only with his death in 1450.

Billon issues at this fineness were the working currency of everyday exchange, produced in volume and circulated hard. The .474 silver content was already at the low end of what contemporary users would have accepted as coin rather than token.