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2000 Mark Bond

Issuer Stadt Köln (City of Cologne)
Year 1923
Type Vouchers
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Obverse lettering Rheinprovinz. Regierungsbezirk Köln
17.Zinsschein I.Reihe
zu der Schuldverschreibung der Stadt Köln
Anleihe 1923 Buchstabe B
über Fünfzigtausend Mark zu acht Prozent Zinsen
über 2000 Mark.
Der Inhaber dieses Zinsscheins empfängt gegen dessen Rückgabe in der Zeit vom 1.Juli 1931 ab die Zinsen der vorbenannten Schuldverschreibung für das Halbjahr vom 1.Januar 1931 bis 30.Juni 1931 mit Zweitausend Mark bei der Stadthauptkasse in Köln oder bei den bekanntgemachten sonstigen Zahlstellen.
Köln, den 20.März 1923. Der Oberbürgermeister
Ungültig, wenn durchlocht.
Köln 1923 17R Mark 2000 Fällig 1.Juli 1931
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Protection description Kölner Waben watermark (Keller #75); embossed dry stamp in lower right of reverse
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Comments

Cologne issued bonds like this one as part of a broader municipal debt strategy during the hyperinflationary collapse of 1923, when the Reichsmark was losing value faster than the Reichsdruckerei could print it. Cities across Germany turned to their own paper obligations partly to manage local payroll and procurement costs, partly to create instruments that could be exchanged or redeemed on terms set locally rather than by a federal banking system in freefall.

The dry stamp is the authentication detail worth noting — applied post-printing at the issuing office, it distinguished legitimate municipal obligations from the enormous volume of counterfeit Notgeld circulating that year.

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