1 Pfennig Sachsenwerk

Sachsenwerk was an electrical manufacturing company based in Niedersedlitz, near Dresden — one of thousands of German industrial firms that issued their own emergency small-change tokens in 1918 as the wartime coin shortage made even pfennig denominations impossible to source through normal channels. This note is factory scrip in the most literal sense: printed and redeemed entirely within a single employer's ecosystem, valid nowhere outside the plant gates.

Gross & Reuter, the local printer, handled much of the Niedersedlitz-area Notgeld output that year. The guilloche underprint is a modest anti-counterfeiting measure — somewhat optimistic for a 1-pfennig denomination, but consistent with how seriously some issuers treated even the smallest denominations.