Watch List notes:

KIAUCHAU: 10 pfennig, ND (1910), Menzel-4287.1.2, nickel-plated brass token, uniformed bust of Friedrich Wilhelm Voigt, the "Captain of Köpenick", facing forward // initials P.H. at center, WERT-MARKE 10 PFG. around, countermarked "5" in obverse right field, About Unc. Friedrich Wilhelm Voigt (1849–1922) was a German impostor who, in 1906, masqueraded as a Prussian military officer, rounded up a number of soldiers under his "command", and "confiscated" more than 4,000 marks from a municipal treasury. Although he served two years in prison, he became a folk hero as "the Captain of Köpenick" (der Hauptmann von Köpenick). He was pardoned by Kaiser Wilhelm II.The initials at reverse center stand for Paul Herpich, proprietor of a "Konfektionsgeschäft" (fine clothing store) in Berlin.A number of these tokens have been attributed to Kiau Chau recently by grading companies and various auction houses. In our opinion the attribution is tenuous and it is more likely strictly a Berlin token issue.

Estimate: 400-500 USD