Token Germany (Saxony Notgeld) 20 and 50 Pfennig, 1, 2, 5, 10, and 20 Mark 1916 to 1922

These are pieces of emergency money (notgeld) issued by the Free State of Saxony (Sachsen) in Germany. The Free State of Saxony is a landlocked federal state of Germany bordering the federal states of Brandenburg, Saxony Anhalt, Thuringia, and Bavaria.

The tokens were issued to buy food and essentials during massive inflation in post World War I Germany. They are made of brown porcelain. For background on these collectibles, click to this CoinQuest page.

Collectors always seek nice looking examples of numismatic items. The set of uncirculated pieces in our picture comes from Munzhandel Andreas Fenzl in Bocholt, Germany, where it is on sale for $110 US dollars, a good price for such a nice looking set.

To estimate the value of individual pieces, say that each of the 7 pieces in Fenzl's set are worth about $15 each on the retail market. This is a nominal price for uncirculated notgeld. The larger denominations would be worth more, say $20 each, and the smaller denominations would be worth less, say $10 each. If you have an individual notgeld and it is worn from circulation, retail values would drop in half, or even lower. Finally, if you were selling your notgelt to a coin dealer, he or she would probably pay about one-half of retail value.
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