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50 000 000 Mark
| Issuer | Stadt- und Landkreis Gelsenkirchen |
|---|---|
| Year | 1923 |
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| In circulation to | 1923 |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Reihe B 50 MILLIONEN MARK NOTGELD für den Stadt- und Landkreis Gelsenkirchen Ausgegeben von dem Stadt- und Landkreise Gelsenkirchen mit Genehmigung des Reichsfinanzministers Gelsenkirchen, den 21. Juli 1923. Der Oberbürgermeister Der Kreisausschuß Kreisdeputierter 50 Millionen Mark |
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| Reverse lettering | 50 Millionen Mark Stadt- und Landkreis Gelsenkirchen Dieser Schein wird bei allen Kassen der ausgebenden Behörden eingelöst. Er wird ungültig mit Ablauf der durch amtlichen Aufruf zu bestimmenden Frist. 50 Millionen Mark |
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| Comments |
Gelsenkirchen's municipal authority issued this note at the height of the German hyperinflation — by late summer 1923, fifty million marks was roughly the cost of a loaf of bread, and Reichsbank currency was simply arriving too slowly to meet local payroll and daily commerce. Cities and districts across Germany had legal authority to issue emergency money (Notgeld) to fill the gap, and Gelsenkirchen, as a major industrial and coal-mining center in the Ruhr, had both the pressing need and the local printing capacity to act fast.
The Ruhr occupation by French and Belgian troops beginning in January 1923 had already disrupted normal economic life in the region before inflation made it catastrophic.