1 Pfennig - Oschatz Th. Bauch Nachf.

Oschatz, a small Saxon market town, produced a wave of privately issued emergency coinage — Notgeld — during the material shortages of World War I, when imperial zinc and copper were diverted to the war effort. Th. Bauch Nachf. was a local merchant firm; "Nachf." (Nachfolger) indicates it was operating as the successor to the original Bauch business. These merchant tokens circulated as fractional change when official small denomination coins vanished from everyday commerce.

The Menzel reference 18#25062.1 places this within a well-documented but sparsely surviving category of Saxon trade tokens.