10 Pfennig Bank of German States

The Bank deutscher Länder was the transitional central bank established by the Western Allied occupation authorities in 1948, predating the Bundesbank by nearly a decade. It issued coinage for only two years — 1948 and 1949 — before the Federal Republic's own institutions absorbed its functions. The 1949 issues from both Hamburg (J) and Stuttgart (F) mints are readily found, but the 1949-D from Munich is considerably scarcer in unworn condition due to higher circulation demand in the American zone.