Pfennig Bear facing left

Appenzell Innerrhoden remained staunchly Catholic after the canton split from Ausserrhoden in 1597, and its coinage reflects a jurisdiction that jealously guarded local minting rights long after neighboring cantons had consolidated theirs. By 1737, billon issues of this size were already economically marginal — fractions of a pfennig's purchasing power — yet the canton continued striking them as a direct assertion of independent monetary authority within the Swiss Confederation.

The HMZ reference places this among a tightly documented series. At 0.2 g, die alignment and centering on surviving examples vary considerably, an expected consequence of hand production at a minor cantonal facility.