German Reichsmark

The Reichsmark (English: realm Mark; Symbol: RM) was the currency in Germany from 1924 until June 20, 1948. It replaced the Rentenmark and was replaced by the Deutsche Mark in West Germany and by the East German Mark ("Mark der DDR" or "Ostmark") in East Germany. The Reichsmark was subdivided into 100 Reichspfennig.

1 History
2 Coins
3 Banknotes
4 Military and occupation reichsmarks
5 See also
6 External links

[edit] History

The Reichsmark was introduced in 1924 as a permanent replacement for the Papiermark. This was necessary due to the hyperinflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was 1 RM = 10¹² Papiermark (one "trillion" in modern English, one "billion" in German and other European languages, see long and short scales). To stabilize the economy and to smoothen transition, the Papiermark was not directly replaced by the Reichsmark, but by the Rentenmark, an interim currency backed by the Deutsche Rentenbank, owning industrial and agricultural real estate assets. The Reichsmark was put on the gold standard at the rate previously used by the Goldmark, with the US dollar worth 4.2 RM.

After the Second World War, the Reichsmark continued to circulate in Germany, with new banknotes printed in the U.S.A and U.S.S.R as well as coins.

[edit] Coins

5-Reichsmark coins without and with the Nazi swastika

Years in brackets represents minted year or years for circulating coinage.

In 1924, coins were issued in denominatoins of bronze 1 and 2, aluminium-bronze 5, 10 and 50 Reichspfennig, silver 1 and 3 Mark (not Reichsmark). The two highest denominations were in silver. In 1925, silver 1 (1925-27), 2 (1925-27,31), 3 (1931-33) and 5 (1927-33) Reichsmark coins were issued for circulation along with the first commemorative 3 and 5 Reichsmark coins. From 1933, 1 Reichsmark coins were issued in nickel.

In 1934, the Nazis began issuing coins bearing their insignia. In addition to base metal bronze 1 and 2, aluminium-bronze 5 and 10 and nickel (1927-1939) or aluminium (1935) 50 Reichspfennig, silver 2 and 5 Reichsmark coins were issued for circulation.

During the Second World War, bronze and aluminium-bronze coins were replaced by zinc and aluminium, with denominations over 50 Reichspfennig no longer issued. Two types of 5 and 10 pfennig were issued in zinc, one had a central hole going through the swastika and issued in 1940-41, the other had no hole. The last mintage for coins with the swastika were for 1 and 10 pfennig in 1945, and 5 and 50 pfennig in 1944.

After the war, the Allies issued coins in relatively small numbers between 1945 and 1948. 1 (1945-46), 5 (1947-48) and 10 Pfennig (1945-48) coins were issued with designs very similar to those of the Third Reich. Only the swastika was removed from beneath the eagle.

[edit] Banknotes

A 100 Reichsmark banknote from Germany of 1935 (http://www.germannotes.com)

The first series Reichsmark banknotes was introduced by the Reichsbank and other state banks such as Bavaria, Saxony, Baden. The first national issue of 1924 came in denominations of 10, 20, 50, 100 and 1000 Reichsmark. This was followed by a second issue in the same denominations, dated between 1929 and 1936. A 20 Reichsmark note was introduced in 1939, using a design taken from an unissued Austrian banknote type. 5 Reichsmark notes were issued in 1942. Throughout this period, the Rentenbank also issued banknotes denominated in Rentenmark, mostly in low denominations.

Following their occupation of Germany, the allies issued banknotes dated 1944. These were printed in similar colours with different sizes for groups of denominations. Notes were issued for ½, 1, 5, 10, 20, 50, 100 and 1000 Mark (not Reichsmark). The issuer was the Alliierte Militärbehörde with In Umlauf gesetzt in Deutschland printed on the obverse.

In 1947 Rhineland-Palatinate issued 5 and 10 pfennig notes with Geldshein on them.

[edit] Military and occupation reichsmarks

2 marks of the occupied territories

The miltary reichsmark was used by the German Armed Forces from 1942-1944. The first issue was denominated in 1, 5, 10 and 50 reichspfennig, but was valued at 1 military reichspfennig = 10 German reichpfennig. This series was unifaced. The second issue of 1, 5, 10 and 50 reichsmarks were equal in value to the German reichsmark and was printed on both siedes.

In occupied Russia and the Baltic states another reichmark was issued in 50 reichspfennig, 1, 2, 5, 20 and 50 reichsmark. It is presumed they were legal tender in these territories and income from the territory was paid in this currency. German troups are said to have been paid in these banknotes, so the inhabitants paid for the German occupation. Various other issues were used in concentration and Prisoner of war camps.