GOETZ: K-240 The Surrender of Gold

cacheman

K-240 THE SURRENDER OF GOLD (Goldaufkauf), 1920, Cast AE, 60.6mm, Choice UNC.

Satirizing the treatment of the gold question by government and population. In 1916 the public ws expected to deliver their gold holdings to the Imperial bank.

Obverse shows the patriotic citizens standing in line to surrender their gold to the Reichsbank with poster on advertising pillar saying “A scoundrel who hoards gold when the fatherland is in need.” A dog conveniently lifts his leg on the poster.

Four years later the banks tried to buy gold and offered 650 paper marks for a 20 mark gold piece. Goetz explains on the reverse exergue “A premium to the ‘patriots’.” The ones who not delivered their gold to the Imperial bank in 1916, made large profits now.

1jester

Very excellent piece!!! Notice the man carrying a wheelbarrow for his paper.

cosmicdebris

Cool!

Darkhorse

Wrong, Scott. The advertising pillar is obviously saying something about Hamsters.

1jester

Hamster refers to a hoarder; it's a noun and a verb. "A scoundrel is one who hoards emergency gold in the Fatherland."

Darkhorse

Nope, hamsters.

trozau

Then in 1933, Roosevelt did the same in the USA.

Aethelred

That medal seems to capture the feeling of the time very well.

Did they have to turn in gold and hamsters?

Askari

Don't feel so bad ... a few years later that paper money was worthless too, so those who skipped out supporting the Reich and the profiteering were better off.

BigAlan

In 1916 the public ws expected to deliver their gold holdings to the Imperial bank.

A friend of mine from college had his grandfather's iron wedding ring. His grandfather had turned in his gold ring and received the iron one in exchange.