1 Pfennig - Nagold

Nagold's 1920 Pfennig belongs to the vast wave of German municipal Notgeld — emergency coinage issued by local authorities, towns, and districts when the Reichsbank could no longer guarantee adequate small-denomination currency during the postwar economic chaos. The Oberamtsbezirk, an administrative district level unique to Württemberg, had the bureaucratic standing to authorize such issues. Iron was the practical choice: copper and nickel had been requisitioned for the war effort years earlier and remained scarce.

Funck catalogues this type under 354.5, suggesting multiple varieties were struck for the district.