10 Pfennig - Kulmbach Spinnerei

Kulmbacher Spinnerei AG was a textile spinning company in Kulmbach, Bavaria, that issued notgeld during the acute small-change shortage that gripped Germany in the early 1920s. Private industrial firms across Germany printed or struck their own emergency currency during this period, redeemable only within their own payroll and company-store systems — a convenient arrangement that also tied workers' spending back to the employer.

Zinc was the practical choice by this point; copper and nickel had been diverted for war production years earlier and remained scarce.