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50 Reichspfennig
| Issuer | Alliierte Militärbehörde |
|---|---|
| Year | 1945 |
| Type | Log in to see details |
| Value | 50 Reichspfennig |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | Plain buff-brown note with a fine guilloche border frame. The denomination numeral '50' is printed in large bold type at centre, flanked by the lettering 'REICHS' and 'PFENNIG'. The issuing authority inscription appears at top, with a legal authority clause along the lower margin. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Diese Note ist in Österreich bis 20. Dezember 1945 gesetzliches Zahlungsmittel. Vom 23. bis 31. Dezember 1945 kann diese Note nur mehr zur Einzahlung auf Konten oder Sparbücher verwendet werden. Die dadurch entstehenden Guthaben unterliegen den nach dem Schillinggesetz, StGBl. Nr. 59, St. 231/1945, für Einlagen aus der Zeit vom 1. bis 22. Dezember 1945 bestehenden Beschränkungen. |
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| Comments |
The Allied Military Authority notes for Germany — this series printed in the United States by the Forbes Lithograph Manufacturing Company of Boston — became one of the more contentious currency decisions of the postwar occupation. The Soviet Union was given the printing plates by the Americans, allowing them to produce unlimited quantities of the same notes, which they did. The resulting overissue flooded the occupation zones and directly accelerated the monetary chaos that preceded the 1948 Währungsreform.
The U.S. Treasury ultimately absorbed staggering redemption losses it had never anticipated when handing over those plates.