Pfennig Coin: From Medieval Bracteates to the Euro

Illustrated Specimen Details: Aluminium-Bronze 5 Pfennig

Example Specimen: 5 pfennig, 1932 (Free City of Danzig)

Authority & Heraldry: This aluminium-bronze coin was issued by the Free City of Danzig (German "Freie Stadt Danzig") — a historical city-state (1920-1939) under the protection of the League of Nations, consisting of the Baltic Sea port of Gdańsk and surrounding localities. The reverse depicts a turbot fish swimming at the bottom of the Baltic Sea, reflecting the significant economic role of fishing for the region. The design was engraved by Erich Volmar, and the coins were minted at the Berlin Mint in Germany.

1. FREE CITY OF DANZIG (1923-1937): pfennig = 1/100 gulden
2. GERMANY (10th-21st centuries): pfennig = 1/100 mark [on the territory of modern Germany, pfennigs were issued by a wide variety of German state entities for more than 1.000 years in a row; hundreds of pfennig types were produced during this time]
3. GERMAN NEW GUINEA (1894): pfennig = 1/100 mark
4. SWITZERLAND (10th-19th centuries): pfennig
5. AUSTRIA — Austrian states + Austrian Empire (11th-19th centuries): pfennig
6. BOHEMIA + SILESIA (13th-18th centuries): pfennig
7. PRINCIPALITY OF TRANSYLVANIA (18th century): pfennig
8. LIVONIA (15th-16th centuries): pfennig = 1/27 ferding

PFENNIG as a coin name: It is one of the most famous coin denominations in human history (alongside the denarius, cent, centavo, franc) with one of the longest histories of use — spanning the 10th to 21st centuries.

History and Evolution of the Pfennig

The etymology and history of the term pfennig belong to the Germanic family of penny-type denominations. After the collapse of the Roman Empire, the pfennig appeared in the lands of the Germanic tribes as a descendant of the Carolingian reforms of the 8th and 9th centuries, effectively replacing the Roman denarius.

From Bracteates to Regional Variations

During the Early Middle Ages, the Germans began producing silver bracteates — very thin, single-sided coins. Due to their concave shape, they resembled small frying pans ("panna" in colloquial Latin), which is considered one likely origin of the name. As the politically fragmented Holy Roman Empire evolved, enormous regional varieties developed, including hundreds of local types issued by cities, bishoprics, duchies, and kingdoms.

This divergence from the classical denarius led to the emergence of related local denominations across Europe, such as the penny in England and the penning in Scandinavia and the Low Countries. Within the German-speaking world, distinct varieties emerged, including the pfenning, friesacher pfennig, and later the guter pfennig.

The Modern Decimal Era

With the unification of the German Empire (1871-1918) and the subsequent eras of the Weimar Republic, Nazi Germany (issuing the reichspfennig and rentenpfennig), and finally East and West Germany, the monetary system standardized. The formula 1 pfennig = 1/100 mark became the steadfast rule.

The German pfennig served as the principal small coin of the German-speaking world for centuries until it officially ceased circulation with the transition to the euro in 2002.

Key takeaway

The pfennig was the foundational fractional denomination of Central Europe for over a millennium. Functioning primarily as 1/100 of a mark in the modern era, it remained a vital part of everyday commerce until the adoption of the euro.