If you have any questions feel free to let me know.ECCLESIASTIC COMMONWEALTH COMMUNITY - Interesting experience at the bank Many chose to avoid currency altogether, placing their faith in tangible assets to barter goods.”
Workers brought wheelbarrows, sacks and suitcases to work to collect their wages.Īccording to one story, a distracted worker found that his suitcase was stolen, with his wages dumped out and left behind. Waiters had to climb on top of tables to announce new menu prices every half hour.
The exchange rate ballooned from 2,000 marks per dollar to 20,000 to a million and beyond in just a few months, riding on a growing wave of economic panic and mistrust.Īs the government commissioned 130 printing companies to churn out piles of increasingly worthless currency, Germans struggled to survive in increasingly absurd conditions. Inflation crept up slowly at first, before accelerating rapidly in late 1922. The strategy was to eventually pay off the debts by seizing resource-rich territories and imposing reparations on the vanquished Allies.īut then Germany lost the war and ended up with massive debts and reparations to the Allies to be paid under the Treaty of Versailles. The out-of-control inflation began somewhat mildly during World War I, as the German government printed unbacked currency and borrowed money to finance military expenditures. Nine years later, it was 4.2 trillion to one. “In 1914, the exchange rate of the German mark to the American dollar was about 4.2 to one. These paper bills are in great condition for being over 96 years old, and are an excellent addition to any ephemera, coin, or history buff collection.įrom ‘Hyperinflation in Germany’ by Alex Q. Each Zehntausend Mark (10,000 Marks) banknote was printed on 19 January, 1922. This listing is for two (2) German Reichsbanknotes.
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