China
Kiau Chau. German Occupation copper Pfennig Token ND (c. Early 20th Century) AU Details (Bent) NGC, Menzel-Unl. Produced in Berlin for the German trading enclave in modern-day Tsingtao that fell to Japanese and British forces at the outset of WWI. An extremely scarce token seldom seen crossing the auction block, and one that displays smooth, chocolate surfaces marred only by a minute bend as noted on the holder.
https://coins.ha.com/itm/china/china-kiau-chau-german-occupation-copper-pfennig-token-nd-c-early-20th-century-au-details-bent-ngc-/a/3092-39123.s?type=CoinArchives3092
HID02906262019
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Estimate: 800-1200 USD