5 Pfennig - Horb am Neckar

Issued by the district authority of Horb am Neckar in 1918, this is Kriegsgeld — emergency coinage produced by municipalities and local bodies across Germany as the Imperial government's metal requisitions stripped copper and nickel from civilian circulation. Iron was the fallback, cheap and abundant, though notoriously prone to rusting in circulation. By the armistice that November, hundreds of such local issues had proliferated across the Reich, many never redeemed.