10 Pfennigs Federal Treasury Note

West Germany's tiny Pfennig notes of the 1960s existed not because of monetary necessity but because of a chronic coin shortage — low-denomination coins kept disappearing from circulation, hoarded or simply lost, faster than the mint could replace them. The 10 Pfennig note was the smallest denomination produced under this emergency stopgap policy, printed by the Bundesdruckerei in Berlin, the same institution that had operated under various names since the Imperial era.

These notes circulated heavily and wore out quickly. Survivors in any decent condition are harder to find than their late issue date suggests.