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2 Rentenmark Rentenbank
| Issuer | Deutsche Rentenbank |
|---|---|
| Year | 1923 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse is printed in dark brown on a dense red guilloche underprint, with the denomination numeral "2" in large bold type at upper left and upper right corners. The central text field carries the title "Rentenbankschein" and the value "Zwei Rentenmark" in Gothic blackletter script, followed by the full statutory text of issue in smaller type. A serial number in red appears at upper centre, and multiple facsimile signatures of board members are printed in black along the lower portion of the note. |
|---|---|
| Obverse lettering | Rentenbankschein Zwei Rentenmark Ausgegeben auf Grund der Verordnung vom 15. Oktober 1923 (R.-G.-Bl. I S. 963) Die Deutsche Rentenbank ist verpflichtet, die von ihr ausgegebenen Rentenbankscheine jederzeit auf Verlangen gegen ihre auf Goldmark lautenden mit 5 v. H. verzinslichen Rentenbriefe einzulösen. Auf 500 Rentenmark wird ein Rentenbrief über 500 Goldmark mit Zinslauf vom nächsten Fälligkeitstermin ab gewährt. Berlin, den 1. November 1923 Deutsche Rentenbank Der Verwaltungsrat (Translation: Rentenbank Note Two Rentenmark Issued according to the order of the 15th of October 1923 The German Rentenbank is obliged to exchange the Rentenbank notes it has issued, at any time upon request, for its Goldmark denominated 5% interest-bearing annuity letters. For every 500 Rentenmark, a bond is granted for 500 Goldmark with interest accruing from the next due date. Berlin, 1st November 1923 German Rentenbank Board of Directors) |
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| Comments |
The Deutsche Rentenbank was created by emergency decree in October 1923 specifically to end the hyperinflationary collapse of the Papiermark, which by November of that year had reached exchange rates of over four trillion marks to the dollar. The Rentenmark it issued was backed not by gold but by a mortgage on Germany's entire agricultural and industrial land — a legally novel and essentially symbolic arrangement that nonetheless worked, largely because the public chose to believe in it.
This 2 Rentenmark denomination saw relatively heavy circulation in the stabilization period. Notes from the earliest batches dated November 1923 show more wear than later printings, reflecting the desperate public appetite for any currency that held its value from one day to the next.