1923 Notgeld Hyperinflation Progression
jmski52
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The 10,000 Mark was minted early in the same year as the 50 million Mark. Kinda scary, especially with what we are now seeing.
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
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Why yes there is. Always liked this series and have most of the varieties listed in Jaeger (altho I've misplaced the reference, grrrrr!) Would like to have some of the rare pieces, just haven't looked too hard or tripped over them. I've also seen some secondary market holders for these but not recently.
Some of the notgeld paper also features the rearing horse. A very fun and mostly affordable series.
oops, sorry for the big pix, haven't edited them since I changed computers...also the scratch was on my old scanner, not Minister von Stein.
Geez. Truly frightening. Those must've been really scary times. But of course they'd just gotten through a scary time in WW1, and of course the really scary stuff kicked off a decade later when you-know-who took over.
I'm doing this from memory but as I recall these were made of something called neusilber which I interprete as something like German silver. As I recollect, Jaeger does indicate that a small number of many/most of the denominations were struck in silver as specimens but this is not the normal production metal used for any of these. Also, I don't think many of these ever circulated beyond the very low denominations (i.e., 10 marks or less) but were sold as souvenirs to collectors to raise funds for various purposes. This is a really fun and very pretty series nonetheless, despite my typical aversion to NCLT issues, and most are sufficiently common to be accessible to collectors of even modest means.
BTW, for some time I have collected German postal history for the period of hyperinflation. During early fall of 1923 the rates were multiplying 4 fold or more every week or so and it looks like the printers were having trouble supplying stamps to keep up with current rates. During the last week of November, 1923 (before the introduction of the rentenmark) it cost 40 millarden (US 40,000 million) marks to mail an ordinary letter within Germany. For comparison, at the end of WWI, such a letter cost just 15 pf and had risen to "only" 2 marks at the beginning of 1922. 1 rentenpfennig was exchanged for 10 millarden marks, breaking the back of the inflation, but also destroying the modest savings of many/most of the population.
<< <i>The 10,000 Mark was minted early in the same year as the 50 million Mark. Kinda scary, especially with what we are now seeing. >>
Correct me if I am wrong but what we are now seeing in the US is an inflation rate of 1.7%.
the dancing horse on the coin is also significant.
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No, just a scratch on the scanner. Here's a better scan I found...