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500 Reichsmark bond 1937
| Issuer | German Reich (Deutsches Reich) |
|---|---|
| Year | 1937 |
| Type | Log in to see details |
| Value | 500 Marks (500 RM) |
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| Composition | Log in to see details |
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| Obverse description | Dense letterpress text in Gothic script covering the face, setting out the terms of the 4.5% Reich loan issued under the law of 19 February 1935, with redemption provisions dated Berlin, 4 May 1937. The denomination 500 Reichsmark appears at head, with the Reichsschuldenkasse as paying authority. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Blank. |
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| Comments |
This is a bond certificate rather than a circulating banknote — an important distinction. By 1937 the Nazi government was financing rearmament on a massive scale, and these Reich bonds were a primary instrument of that debt accumulation, issued under financial structures designed by Hjalmar Schacht to obscure the true scale of military expenditure from international observers.
The nearly square format is unusual for German fiscal paper of this period. Watermark authentication was standard for Reich debt instruments, though the specific watermark pattern varied across tranches within the series.