5 Pfennig Baden, French occupation

Baden was one of three French occupation zones reorganized as separate "Länder" after 1945, distinct from the American-zone Württemberg-Baden to the north. This note predates the June 1948 Währungsreform, which swept out all occupation-era emergency currency virtually overnight — holders had days to exchange old Reichsmark-denominated scrip at punishing 10:1 rates, and small-denomination notes like this were often simply discarded rather than exchanged.

The French zone's currency administration ran independently of the Bizone arrangements, which is why Baden-specific issues exist at all.