10 Pfennig Verkehrs-Verein

Calbe an der Milde is a small town in Saxony-Anhalt, and like hundreds of German municipalities during the World War I currency shortage, its local Verkehrs-Verein — a traders' or commerce association — stepped in to fill the gap left by the disappearance of small metal coins from circulation. These Verkehrsvereins had no banking authority; they issued notgeld on the strength of local trust alone. The Reichsbank's wartime hoarding of copper and nickel coinage drove even minor market towns to print their own fractional paper.