5 Pfennig

Delitzsch is a small town in Saxony-Prussian borderland, and this 5 Pfennig piece belongs to the enormous wave of municipal Kleingeldersatz — small-change substitutes — issued across Germany in 1920 when coin shortages became genuinely acute. Rampant hoarding of metal coinage, combined with postwar raw material scarcity, pushed thousands of local authorities to print their own fractional paper. The Magistrat had no particular printing pedigree; these were purely functional stopgaps.

At 75 × 51 mm, it's among the smallest paper issued under any German municipal authority, and fragility means intact survivors are more common in collector holdings than in documented circulation wear.