Sachsenpfennig

Julius Menadier called the pfennig type of the 10th and 11th centuries with an upturned rim the Sachsenpfennig because it was minted in eastern Saxony.

East of the Elbe among the Slavs (Wends) and Scandinavians (Vikings), the merchants had developed a so-called bullion economy.

When paying, silver was cut into the form of ingots, jewellery and coins and weighed with scales and weights.

[4] Across the whole of the Slavic lands, hoards of silver weighing several kilogrammes have occasionally survived; they comprise German and West European denarii, Oriental dirhems and Scandinavian jewellery.

[8] At that time, the schilling was not an actual coin, but the name of a dozen pfennigs, so it was just a unit of account.