1922 REICHSBANK 1000 MARK WITH ONE BILLION MARK OVERPRINT

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SKU: 1922REICHSBANK1000 MARKONEBILLIONOVERPRINT-D23 Category:

Description

Truly a magnificent and fabulous example of this emergency money or notgeld banknote issued by the Reichsbank in 1922 in Germany.  Originally a 1,000 Mark note, it is over stamped for One Billion Mark  which is a truly huge amount of zeros. 

It is clean and crisp with good strong edges and no staining. The note itself is two toned with half of it brown and half of it white. This is not staining, this was the intention of the printer.

As hyperinflation soared out of control it became expedient to take existing banknotes and over stamp them with a new value. It was cheaper, faster and more practical than waiting for new notes to be designed and printed.

An extraordinary example of an economic system in free fall.

Get your piece of European history here whilst stocks last.

Additional information

SKU

Design

Issuer:         Reichsbank
Value:         1000 Mark banknote over stamped for One Billion Mark
Date:           15.12.1922 (Rosenberg 81) valid through till   5.06.1925
Design:        Jörg Herz and painting by G. Penz
Catalogue:   1000 Mark – Ro.81 with overstamp Ro.110
Serial:          6 numbers Green
Size:           140 mm x 90 mm

History

In December of 1922 the Reichsbank issued a new banknote for the sum of 1,000 Marks.

Just before its release they realized that these 1,000 marks were only worth about one eighth of a U.S. dollar. They then decided that it was not worth while to release them as they were almost worthless or soon would be. The banknotes were then shelved until 9 months later at which time they really needed some new notes to boost circulation and they remembered the bills they had printed and stored the previous year.

As the German currency was depreciating so swiftly it was expedient to apply an overprint or überdruck stamp to them for the new value of One Billion Marks. It saved on printing, design and paper costs. The note was now worth substantially more and at its time of release had a value of USD$6.25.  This was for a brief time only however.

Banknotes like this one were required by the basket full just to purchase a loaf of bread by the end of 1923.

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