It is usually a war-time situation that causes municipalities to issue notgeld or emergency money. This piece, a 5 centimes from the French city of Chalons, is representative of a large variety of such tokens (or jetons). Values, very roughly, respond to collector demand as follows:
worn: $3 US dollars approximate catalog value
average circulated: $8
well preserved: $20
fully uncirculated: $45
Condition means everything. The jeton in our main picture (upper left) is in great shape and would sell at about $25 retail. A coin dealer might pay $10 to $15 for it. Requester Brian sent us the picture to the right of his jeton. If it were only worn and discolored, it would be a $3 item. But Brian's piece has a hole through the center. That makes it worth about zero.