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What is a pfennig?

What is a pfennig? Here are some definitions.

Noun
  1. One hundredth of the former German mark (Deutsche Mark).
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Examples
One pfennig is one-hundredth of a mark, and the mark once was equal to 23.8 cents.
And as I no longer had a pfennig to my name, I soon went back to conference interpreting.
I'd give every pfennig in my possession to walk into your study to-day and take you by surprise.
You can spread out your money on the table, open your Police Guide, and plan out your holiday to a fifty pfennig piece.
The inference is that BMW officials are trying to squeeze every last pfennig out of the sale of a virtually bankrupt company.
I had not a pfennig to spend and nothing of any value to sell.

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