Papiermark
| Mark Template:De icon | |
|---|---|
| File:1923-9-1-500mil.jpg A 500 Million mark banknote from Germany of 1923 (http://www.germannotes.com) | |
| Unit | |
| Plural | Mark |
| Symbol | M |
| Denominations | |
| Subunit | |
| 1/100 | Pfennig |
| Plural | |
| Pfennig | pfennig |
| Symbol | |
| Pfennig | pf. |
| Banknotes | 1, 2, 5, 10, 20, 50, 100, 500, 1000, 5000, 10 000, 20 000, 50 000, 100 000, 200 000, 500 000, 1 000 000, 2 000 000, 5 000 000, 107, 2×107, 5×107, 108, 5×108, 109, 5×109, 1010, 2×1010, 5×1010, 1011, 2×1011, 5×1011, 1012, 2×1012, 5×1012, 1013, 2×1013, 5×1013, 1014 Mark |
| Coins | 1, 2, 5, 10, 50 Pfennig ½, 1, 3, 200, 500 Mark |
| Demographics | |
| User(s) | Germany |
| Issuance | |
| Central bank | Reichsbank |
The name Papiermark (Template:Lang-en) is applied to the German currency from the point in 1914 when the link between the Mark and gold was abandoned, due to the outbreak of the First World War. In particular, the name is used for the banknotes issued during the hyperinflation in Germany of 1922 and especially 1923, which was a result of the Germans' decision to pay their war debt by printing banknotes.
History
From 1914, the value of the Mark fell. The rate of inflation rose following the end of WWI and reached its highest point in October 1923. The currency was stabilized in November, 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1,000,000,000,000 Papiermark = 1 Rentenmark. Later in 1924, the Rentenmark was replaced by the Reichsmark.
In addition to the issues of the government, emergency issues of both tokens and paper money, known as Kriegsgeld (war money) and Notgeld (emergency money), were produced by local authorities .
Coins
During the war, cheaper metals were introduced for coins, including aluminium, zinc and iron, although silver ½ Mark pieces continued in production until 1919. Aluminium 1 Pfennig were produced until 1918 and the 2 Pfennig till 1916. Whilst iron 5 Pfennig, both iron and zinc 10 Pfennig and aluminium 50 Pfennig coins were issued until 1922. Aluminium 3 Mark were issued in 1922 and 1923, and aluminium 200 and 500 Mark were issued in 1923.
Banknotes
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See also
References
- Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
- GermanNotes.com (2005). German Paper Money 1871-1999. eBook from germannotes.com