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Tom Briggs | all galleries >> Galleries >> Currency Oddities > GERMAN HYPERINFLATON 1922-24 (1,000,000,000 Billion Marks)
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08-Jun-2019

GERMAN HYPERINFLATON 1922-24 (1,000,000,000 Billion Marks)

WHAT YOU ARE LOOKING AT ABOVE IS A ONE BILLION REICHMARK BILL. IT WAS ORGINALLY A 1000 MARK BILL BUT HYPERINFLATION CAUSED THE GOVERNMENT TO JUST OVERPRINT THE BILL WITH ITS NEW VALUE. VALUES CHANGED UPWARD ALMMOST DAILY SO IT WAS IMPRACTICAL TO PRINT NEW BILLS

In 1918 a loaf of bread cost one quarter of a Reichsmark; by 1922 this had increased to three Reichsmarks. In 1923 the market price for bread spiraled, reaching 700 Reichsmarks in January, 1200 in May, 100,000 in July, 2 million in September; 670 million in October and then 80 Billion (capital B) Reichsmarks by November. Eggs followed a similar pattern. One dozen eggs cost half a Reichsmark in 1918 and three Reichsmarks in 1921. In 1923 the market price increased to 500 (January) then 30 million (September) and four billion Reichsmarks (October).
The size of banknotes increased; the largest note had a face value of 100,000,000,000,000 (100 trillion) Reichsmarks. Denominations of postage stamps also increased, the largest valued at five billion Reichsmarks – though by late 1923 even this was not enough to post an ordinary letter.
By September 1923, as the hyperinflation crisis neared its worst, Germans needed enormous amounts of paper money to buy even basic commodities. It was not uncommon to see shoppers hauling buckets, bags, even wheelbarrows full of banknotes. One Munich woman dragged a suitcase of banknotes to her local grocery store; she left it outside briefly, where someone stole the suitcase – after emptying the money onto the street. Children used worthless banknotes as toys; their mothers used them to light stoves and boilers, line cake tins, even as wallpaper. Many Germans abandoned money altogether and began bartering as a means of obtaining what they needed

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Walter Otto Koenig10-Jun-2019 15:08
Nice to see this. Easy way to make a billion out of a thousand. My grandmother worked in a bank at this time in Germany. Money would go out of circulation every few months/weeks, and she kept it, so I have a box of this.
Long Bach Nguyen10-Jun-2019 14:49
wonderful find Tom...where did you get the 1K Reich Mark
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