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5 Rentenmark Rentenbank
| Issuer | Deutsche Rentenbank |
|---|---|
| Year | 1923 |
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| In circulation to | 1948 |
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| Obverse description | Dark brown intaglio printing on a pale ground, with a fine guilloche border framing the entire face. The denomination numeral '5' appears in large Gothic lettering at upper left and right, flanking the title 'Rentenbankschein' at centre top. The body of the note carries a dense block of official text in German Gothic script, concluding with the issuance date 'Berlin, den 1. November 1923', the institution name 'Deutsche Rentenbank', and multiple facsimile signatures of the Verwaltungsrat arranged in two rows across the lower portion. |
|---|---|
| Obverse lettering | Rentenbankschein Fünf 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 Five 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 conjured into existence by emergency decree on 15 October 1923, at the absolute nadir of the Weimar hyperinflation. The Rentenmark it issued was technically backed by a mortgage lien on all German agricultural and industrial land — a legal fiction, since no one could actually foreclose on an entire national economy, but a psychologically effective one. The currency held. Confidence, it turned out, was the only backing that had ever mattered.
This note was printed by the Reichsdruckerei in Berlin. The Rentenbank itself was a transitional institution, never intended as a permanent central bank, and was gradually superseded by the Reichsbank's own stabilized Reichsmark issues from 1924 onward.