Well, I don't know what I would do without those know it alls over at The Coin Doctor. When someone asks me a hard question (you are good at that, Serene!), I often refer to the Doc's body of numismatic knowledge to save my hide. This coin is no exception.
These coins from the old German State of Prussia all have similar designs and inscriptions. The numeric values change:
(1 pfennig) 1 pfenninge, 1/360th of a thaler
(2 pfennig) 2 pfenninge, 1/180th of a thaler
(3 pfennig) 3 pfenninge, 1/120th of a thaler
(4 pfennig) 4 pfenninge, 1/90th of a thaler
Catalog value is low for all but a few special dates in all these series. On average, this is how catalog values run:
1, 2, 3, AND 4 PFENNIG:
worn: $4 US dollars approximate catalog value
average circulated: $10
well preserved: $30
fully uncirculated: $70
The special, extra valuable dates and mint marks are called out here. Values are for coins in average circulated condition.
Here are some words of wisdom from the Coin Doctor:
The legend 120 EINEN THALER on the 3 pfennig tells you that 120 3 pfennigs (or 360 Pfennigs) was equal to one thaler, (pronounced tollar, like 'dollar' with a 't'). The term SCHEIDE MUNZE refers to the fact that the 3 pfennige was 'fractional money', that is less value than a thaler.