German Rentenmark


German Rentenmark

Infobox Currency
currency_name_in_local = Rentenmark de icon
image_1 =
image_title_1 = A 1926 5 Rentenmark banknote
image_2 =
image_title_2 =
iso_code =
using_countries = Germany
subunit_ratio_1 = 1/100
subunit_name_1 = Rentenpfennig
symbol = RM
symbol_subunit_1 = Rpf.
plural = Rentensmark
plural_subunit_1 = Rentenpfennig
used_coins = 1, 2, 5, 10, 50 Reichspfennig 1 Rentenmark
used_banknotes = 1, 2, 5, 10, 50, 100, 500, 1000 Rentenmark
issuing_authority = Reichsbank
issuing_authority_website =
obsolete_notice = Y

The Rentenmark (literally, "Security Mark") ("RM") was a currency issued on 15 November 1923 to stop the hyperinflation of 1922 and 1923 in Germany. It was subdivided into 100 "Rentenpfennig".

History

The Rentenmark replaced the "Papiermark". Due to the economic crises in Germany after the Great War there was no gold available to back the currency. Therefore the Rentenbank, which issued the Rentenmark, mortgaged land and industrial goods worth 3.2 billion Rentenmark to back the new currency. The Rentenmark was introduced at a rate 1 Rentenmark = 1:1012 Papiermark, establishing an exchange rate of 1 United States dollar = 4.2 RM.

The Rentenmark was only an intermediate currency and was not legal tender. It was, however, accepted by the population and effectively stopped the inflation. The "Reichsmark" became the new legal tender on 30 August 1924, equal in value to the Rentenmark.

The monetary policy spearheaded by Hjalmar Schacht—the Central Banker—together with the fiscal policy of German Chancellor Gustav Stresemann and Finance Minister Hans Luther brought the inflation in Germany to an end.

The Rentenbank continued to exist after 1924 and the notes and coins continued to circulate. The last Rentenmark notes were valid until 1948.

Coins

Coins were issued dated 1923, 1924 and 1925 in denominations of 1, 2, 5, 10 and 50 Rentenpfennig. Only small numbers of Rentenpfennig coins were produced in 1925. A few 1 Rentenpfennig coins were struck dated 1929. The 1 and 2 Rentenpfennig were minted in bronze, with the remaining coins in aluminium-bronze.

Banknotes

The first issue of banknotes was dated November 1, 1923, and was in denominations of 1, 2, 5, 10, 50, 100, 500 an 1000 Rentenmark. Later issues of notes were 10 and 50 Rentenmark (1925), 5 Rentenmark (1926), 50 Rentenmark (1934) and 1 and 2 Rentenmark and dated 1937.

ee also

* 1923 in Germany
* 1924 in Germany

References

*numis cite SCWC|date=1991
*numis cite SCWPM|date=1994
*GermanNotes.com (2005). "German Paper Money 1871-1999". [http://www.zapzero.com/gn/shop/product_info.php?cPath=28&products_id=82 eBook from germannotes.com]

External links

Standard numismatics external links
world_coin_gallery_1_url = Germany
world_coin_gallery_1_name = Germany - Weimar Republic
world_coin_gallery_1_anchor = Weimar
banknote_world_1_url = germany2
banknote_world_1_name = Germany - 1920 to 1923
banknote_world_2_url = germany3
banknote_world_2_name = Germany - 1924 to 1947
dollarization_1_url =
dollarization_1_name =
gfd_1_url = Germany
gfd_1_name = Germany
gfd_data_1_url = 4009
gfd_data_1_name = Germany Deutschemark
show_gfd_excel = Y

External links

* [http://www.germannotes.com/ German historical Banknotes and Old Paper Money from Germany]
* [http://www.fvdes.com/stamps/weimarweb/weimar_education_money.htm Weimar Inflation Money]


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