10 Pfennig - Leipzig Wilhelm Morell

Wilhelm Morell operated one of Leipzig's better-documented private trading houses during the notgeld period following the First World War, when municipal and commercial issuers flooded Saxony with emergency coinage to compensate for the chronic shortage of small imperial denominations hoarded out of circulation. Zinc was the default material for private issues of this type — aluminium had become scarce, and copper was still being recovered from the war economy.

The Menzel reference numbers suggest this piece has been catalogued across at least two major notgeld editions, confirming it circulated in sufficient quantities to attract scholarly attention rather than being a purely speculative collector issue.