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| Issuer | German notgeld |
|---|---|
| Year | 1923 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | Funck#641.3, Men05#22150.4, Men18#27704.4 |
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|---|---|
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| Edge | Lettered |
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| Mintage | 1923 |
| Additional information |
By mid-1923, Germany's hyperinflation had so outpaced paper note production that municipalities and regional bodies issued their own emergency coinage — Notgeld — simply to keep commerce moving. This piece, denominated at 500 million Mark, was issued to serve the Rhineland and Ruhr, a region already under French and Belgian military occupation since January 1923. The occupation itself had triggered the final, catastrophic acceleration of inflation: Berlin's policy of "passive resistance" meant the government paid striking workers in newly printed marks, destroying what remained of the currency's value.
A denomination of 500 million marks would have bought roughly a loaf of bread — briefly.