German reichsmark
From Wikipedia, the free encyclopedia
The Reichsmark (Symbol: RM) was the currency in Germany from 1924 until June 20, 1948. It was replaced by the Deutsche Mark in West Germany and by the East German Mark ("Mark der DDR" or "Ostmark") in East Germany.
It was introduced in 1924 as a replacement of the Papiermark. This was necessary due to the hyperinflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was 1 RM = 1012 Papiermark ("trillion" in modern English, "billion" in German and other European languages. See Long and short scales). It was pegged to the dollar at a rate of RM4.2 to US$1. To stabilize the economy and to smoothen transition the Papiermark was not directly replaced by the Reichsmark, but by the Rentenmark, an interim currency backed by the Deutsche Rentenbank, owning industrial and agricultural real estate assets.
The term "Mark" is an old Germanic name for currencies, having been in use since the 12th century. The Mark became Germany's main currency after reunification in 1871. However, many other local currencies co-existed in Germany till the early 20th century.
After the Second World War the Reichsmark continued to circulate in Germany but with new banknotes printed in the U.S.A and U.S.S.R as well as coins. The banknotes are all dated 1944 and come in the similar colours, but depending on denomination printed on white paper. They come in different sizes for different values. Their value was 0.50, 1, 5, 10, 20, 50, 100 and 1000 Reichsmark. The issuer was the Alliierte Militärbehörde with In Umlauf gesetzt in Deutschland written on the front.
[edit] See also
[edit] External links
- Reichsmark and Rentenmark banknotes
- Weimar coins 1
- Weimar coins 2 (Russian)
- Third Reich coins 1
- Third Reich coins 2 (Russian)
| Preceded by: German Rentenmark Danzig Gulden |
German currency 1924–1948 |
Succeeded by: Deutsche Mark East German Mark |
 This currency-related article is a stub. You can help Wikipedia by expanding it. |
