Mint uncirculated grade
Emergency money or notgeld was printed in very large quantities and people had little respect for it. Some people burned it in their fires as it was cheaper than firewood. The hyperinflation period in Germany saw many variation being produced as the notes worth was constantly changing as the Mark devalued. A loaf of bread in January 1923 sold for around 250 Marks, by November the same year, the same loaf would set you back 200,000 million Marks.
It is remarkable that an example such as this has survived for almost 100 years in perfect condition.
The paper has lovely new feel to it and the and the note itself is mint uncirculated ( kassenfrisch in German). No wrinkles, creases, pinholes or marks to detract from its perfection.
For the purveyor of high quality hyperinflation bank notes this note makes the perfect addition.
1923 BAYERISCHE BANKNOTE 50,000 MARK A173789
Issued: 15 March 1923
Size: 169 x 100 mm
Grade: Mint Uncirculated UNC – Kasenfrisch in German
Watermark: Small corner – tuning fork.
Hyperinflation was at its peak in November of 1923 when the German Government ceased its struggle to remove the French and Belgian troops from the Ruhr Valley which was a major industrial zone for the German economy. It had been seized by the foreign troops based on the fact that Germany had failed to maintain their war reparations as agreed in 1918. The German Government did this by undermining the foreign management of the area. When the workers went on strike, they were supported in their actions by the Government who happily printed all the cash required to pay them whilst they downed tools. Needless to say this was untenable for the French and Belgians who packed up and left.
Stories abound from this period to illustrate the severity of the situation. One gentleman visited a coffee shop were he sat and over a period time purchased two cups of coffee priced at 5,000 Mark each. When his bill arrived it was 14,000 Marks and the waiter informed him that had he ordered both at the same time the cost would have been 10,000 Marks but as he waited in between the cost had risen on the second cup. Another family sold all they owned, their house and land and belongings. They had decided to leave Germany and travel to America in search of a better life. When they reached the ship at Hamburg they found to their dismay that not only did they no longer have enough money to purchase the berths on board but their money had become worthless and they did not even have sufficient to travel back to their home town.
The big saviour in all this was the introduction of the Rentenmark which finally stabilized the currency. It was brought into circulation in late November of 1923 and exchanged at the rate of 1 Gold Mark for 1,000,000,000,000 paper Marks. It was none to soon either as starvation and illness was widespread in Germany with children suffering from rickets and tuberculosis was almost at epidemic levels. By November 1923 the U.S. dollar was valued at 4.2 trillion marks.