Set of 6 emergency money notes printed in the Bochum district of Germany during the era of hyperinflation. The notes depict mining and construction and the return home at the end of the working day.
Bochum is one of Germany’s best known steel producing towns.
The notes are in beautiful condition as per the pictures provided.
Many regions across Germany printed their own emergency currency as hyperinflation ran its course.
Some were even printed on aluminium, wood and silk, whichever material was most plentiful for the purpose.
1921 BOCHUM Landkreis Notgeld note series
3x 50 Pfennig, 2×75 Pfennig, 1×1 Mark
Catalog: G.-M.: 127.1b
* Hyperinflation in the Weimar Republic
5 Million Mark coin Would have been worth $714.29 in Jan 1923, about 1 thousandth of one cent by Oct 1923.
By November 1922 the gold value of money in circulation fell from £300 million before WWI to £20 million.
The Reichsbank responded by the unlimited printing of notes, thereby accelerating the devaluation of the mark.
In his report to London, Lord D’Abernon wrote: “In the whole course of history, no dog has ever run after its own tail with the speed of the Reichsbank.”
Germany went through its worst inflation in 1923.
In 1922, the highest denomination was 50,000 Mark.
By 1923, the highest denomination was 100,000,000,000,000 Mark.
In December 1923 the exchange rate was 4,200,000,000,000 Marks to 1 US dollar.In 1923, the rate of inflation hit 3.25 × 106 percent per month (prices double every two days).
Beginning on 20 November 1923, 1,000,000,000,000 old Marks were exchanged for 1 Rentenmark so that 4.2 Rentenmarks were worth 1 US dollar, exactly the same rate the Mark had in 1914.
(1) Start and End Date: Jan. 1920 – Jan. 1920
(2) Peak Month and Rate of Inflation: Jan. 1920, 56.9%
(3) Start and End Date: Aug. 1922 – Dec. 1923
(4) Peak Month and Rate of Inflation: Nov. 1923, 29,525%
*All history taken from Wikipedia for educational purposes only.