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Following the near-collapse of the national currency between 1920-1924, many towns, villages and regions issued their own local currency, known as notgeld, mostly in small pfennig denominations. After the crises, many regions continued to print notgeld in huge quantities purely as collector items. Uncirculated notegeld are widely available at very low prices.

During WWII, the German military also issued payment certificates in small denominations, including 5 reichs pfennig. These are not uncommon and are worth about $10 in mint uncirculated condition.

An accurate valuation would not be possible without an accurate description of the note - issuing authority/region/dates.

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