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A loaf of bread in Berlin that cost around 160 marks at the end of 1922 cost 200,000,000,000 or 200 billion (2×10 11) marks by late 1923. [14] By November 1923, one US dollar was worth 4,210,500,000,000 or 4.2 trillion (4.2105×10 12) German marks. [16]
From 1914 to 1923, Danzig used the German Papiermark and issued several local 'emergency notes'. Inflation during 1922–23 averaged roughly 2,440% per month. [1] In July 1923 it was announced that a new and independent currency (the gulden) was being established with the approval of the League of Nations finance committee to replace the German mark. [2]
Between 1914 and the end of 1923 the Papiermark's rate of exchange against the U.S. dollar plummeted from 4.2ℳ︁ = US$1 to 4.2-trillionℳ︁ = US$1. [17] The price of one gold mark (358 mg of pure gold) in German paper currency at the end of 1918 was 2ℳ︁, but by the end of 1919 a gold mark cost 10ℳ︁. [18]
This is a list of current and historical currency of Germany. The sole currency of Germany has been the Euro since 2002. List ... 1923 German gold mark
This is a list of commemorative coins issued by the Federal Republic of Germany. For regular coins , see Deutsche Mark and German euro coins . Those prior to 2002 were denominated in Deutsche Marks; subsequent ones have been denominated in euros .
With the currency reform of 1923, a new currency, the Rentenmark, was created which was based on material assets that had been measured in gold marks (corresponding to 1/2790 kg of gold) according to Section 6. [5]
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The Rentenmark (German: [ˈʁɛntn̩ˌmaʁk] ⓘ; RM) was a currency issued on 15 November 1923 to stop the hyperinflation of 1922 and 1923 in Weimar Germany, after the previously used Papiermark had become almost worthless. [1] It was subdivided into 100 Rentenpfennig and was replaced in 1924 by the Reichsmark.