10 Pfennig - Hildesheim Senkingwerk A.G.

Senkingwerk A.G. was a major metalworks and enamelware manufacturer in Hildesheim, and like hundreds of German industrial firms during the acute small-change shortage of 1917–1921, it issued its own notgeld coinage to pay workers when the Reichsbank could not supply sufficient coin. Iron was the material of necessity — copper and nickel had been requisitioned for the war effort years earlier.

Factory-issued pieces like this one rarely travelled far from the paymaster's window.