Description: During and after WWI, the scarcity of money, particularly small denominations, stemmed from various factors. The expansion of German occupied territories led to an outflow of 'real money' to these new areas. Additionally, nickel coins were phased out to allocate the metal for war efforts. People's inclination to hoard valuables like coins and banknotes exacerbated the shortage. The skyrocketing value of silver caused silver coins to disappear from circulation, their intrinsic worth surpassing their face value. Since 1916, there had been a dearth of small denominations nationwide. Delays in minting 50pf coins, possibly due to wartime labor shortages, aggravated the issue. Subsequently, coinage shifted to zinc and iron, and today, collectors can still find numerous metal notgeld coins dating back to 1917.To address the shortage of everyday currency, the state bank (Reichsbank) permitted towns, villages, and municipalities to issue their own money, initially as emergency measures. Notgeld, which translates to "emergency money," refers to currency issued by entities during economic or political crises, typically without central government authorization. This occurred when state-produced money from the central bank was insufficient. Notably, Germany and Austria saw significant notgeld issuance during WWI and the Interbellum period. Issuers included local savings banks, municipalities, and private or state-owned businesses. Most notgeld had expiration dates, while undated issues often had expiration announcements in newspapers or at the point of issuance.Notgeld predominantly took the form of paper banknotes, although other materials like coins, leather, silk, linen, wood, postage stamps, aluminum foil, coal, and porcelain were also used. Rare instances involved materials like elemental sulfur and repurposed paper or carton (e.g., playing cards). Notgeld functioned as a widely accepted means of payment within specific regions but could circulate beyond. Some forms resembled scrip, redeemable only at specific businesses. The extensive issuance by numerous entities across Germany blurred the distinction between notgeld and scrip. Collectors often categorize notgeld by region or era rather than issuing authority. Notgeld differs from occupation money issued by occupying armies during wartime.
Price: 11.95 USD
Location: Atlanta, Georgia
End Time: 2025-01-18T22:10:55.000Z
Shipping Cost: 0 USD
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Item Specifics
Restocking Fee: No
Return shipping will be paid by: Seller
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
Circulated/Uncirculated: Uncirculated
Type: Banknotes
Year: 1920-24
Country: Germany
Grade: Ungraded
Country/Region of Manufacture: Germany
Certification: Uncertified
