100 Pfennig Kalksandstein-Werke Milbertshofen

Kalksandstein-Werke Milbertshofen was a sand-lime brick manufacturer operating on the northern outskirts of Munich. This 100 Pfennig piece is Notgeld — emergency small change issued by a private industrial firm during the acute coin shortage that gripped Germany from 1916 onward, when metal was being diverted to the war effort and state mints could not keep pace with demand for low-denomination currency.

Factory-issued Notgeld of this type functioned essentially as wage scrip, redeemable at the company cashier or accepted by local tradesmen near the works. Cardboard was the practical choice: cheap, quick to print, and just substantial enough to survive a few weeks in a worker's pocket.