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German Hyperinflation Banknotes
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2 Million Mark, 1923
(2,000,000 Mark)
Front
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5 Million Mark, 1923
(5,000,000 Mark)
Front
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Back
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10 Milliard Mark, 1923
(10,000,000,000 Mark)
Uniface
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100 Billion Mark, 1923
(100,000,000,000,000 Mark)
Uniface
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This note is not in my collection. Scan courtesy of J. G. Peschke
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Money to Burn
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Germany 1923 - Banknotes were so worthless that it was cheaper to burn them than buying firewood.
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Back to Hyperinflation Banknotes
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Germany borrowed heavily to wage the war during WWI. After the war, it faced
huge loan and reparation payments which far exceeded Germany's gross
domestic product or GDP. When Germany could no longer made reparation payments
in 1923, French and Belgium troops moved in to occupy the Ruhr, Germany's main
industrial area. Without major source of income, the government took to
printing money which resulted in hyperinflation.
The highest denomination before 1923 was 50,000 Mark. By early 1924, it
reached 100 Billion (100,000,000,000,000) Mark.
In the late-1923 currency reform, 1 Rentenmark was exchanged for 1,000
Milliard Mark (1,000,000,000,000 Mark). In late-1924, Rentenmark was renamed
Reichsmark. Reichsmark notes continued in circulation until the end of WWII.
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