Lot 238. GERMANY: 1918 Notgeld 5 Pfennig, Oberndorf Württemberg, Iron Composition, NGC MS62
GERMANY: 1918 Notgeld 5 Pfennig, Oberndorf Württemberg, Iron Composition, NGC MS62. Diameter: 17,0 mm. Octagonal design. Lamb-380.1, Funck - 392.1. Notgeld (German for ""emergency money"" or ""necessity money"") refers to money issued by an institution in a time of economic or political crisis. The issuing institution is usually one without official sanction from the central government. This occurs usually when sufficient state-produced money is not available from the central bank. Most notably, notgeld generally refers to money produced in Germany and Austriaduring World War I and the Interbellum. Issuing institutions could be a town's savings banks, municipality and private or state-owned firms.