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50 Rentenmark Rentenbank
| Issuer | Deutsche Rentenbank |
|---|---|
| Year | 1923 |
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| Reference(s) | P#165 |
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|---|---|
| Obverse lettering | Rentenbankschein Fünfzig 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 Zinsenlauf vom nächsten Fälligkeitstermin ab gewährt. Berlin, den 1. November 1923 Deutsche Rentenbank Der Verwaltungsrat (Translation: Rentenbank Note Fifty 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) |
| Reverse description | Brown on olive-green guilloche underprint with an intricate overall pattern of repeating numerals "50" forming the background across the entire field. A large ornate intaglio numeral "50" occupies the centre, flanked by symmetrical guilloche rosettes. The titles "RENTENBANKSCHEIN" and "FÜNFZIG RENTENMARK" are printed in bold letterpress at top and bottom respectively, with the anti-counterfeiting warning text printed vertically along the left margin. |
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| Comments |
The Rentenbank was conjured into existence by emergency decree in October 1923, at the precise moment the Reichsmark had become worthless — not hyperinflationary in the usual sense, but literally unspendable. The new Rentenmark was backed notionally by a mortgage lien on all German agricultural and industrial land, a legal fiction that nonetheless worked, largely because the public had no alternative but to believe it.
The 50 Rentenmark was the largest denomination in the inaugural series. At that scale it was primarily a commercial and institutional instrument — ordinary retail transactions required much smaller notes — which means heavily circulated examples are less common than mid-denominations from the same issue.