1 Pfennig

Nuremberg's pfennig coinage of the mid-fifteenth century emerged from the city's position as one of the most commercially active nodes in the Holy Roman Empire — a hub where Venetian merchants, Bohemian silver traders, and Flemish cloth dealers all settled accounts. The city's mint rights, confirmed repeatedly by imperial privilege, gave Nuremberg unusual latitude to strike its own silver even as neighboring territories struggled to maintain consistent coinage standards.

The Kellner reference places this among a tightly catalogued sequence tied to the city's internal monetary regulations of the 1440s and 1450s, when the council actively adjusted pfennig fineness to compete with Bavarian issues flooding regional markets.