Alexis asks: What is a pfennig and what would it’s monetary value be in either 1999 American currency or 1800’s American currency? Thank you.
A pfennig is the German version of a cent, that is 1/100th of a Mark. In 1999 terms 1.4 marks= US$1 making a pfennig equivalent to .007 US cents. The pfennig (or similar spelling) denomination existed in some German States in 1800 but it is difficult to value in relation to U.S. money. The pfennig, often (but not always) was the lowest denomination:
- was not a decimal coin in 1800 (e.g. South Germany pre 1837: 8 Heller=4 Pfennige=1 Kreuzer)
- could be valued differently between German States.
- didn’t exist in some German State’s currency in 1800.
It wasn’t until the Monetary Convention of 1857 that all the Geman States adopted a uniform standard. The mark became a decimal unit in 1871.
