These seven genuine banknotes were produced by the Weimar Republic (present day Germany) during one of the worst cases of hyperinflation in the 20th century from 1921 to 1923. The combined face value of all seven bills is 683,000,000 marks!
This collection contains each of the following denominations, all dated 1923: 500, 100, 50, 20, 10, 2, and 1 million marks.
In October 1923, the German Papiermark currency was experiencing a monthly inflation rate of about 29,500%, causing prices to double every 3.7 days. One month later, a single US dollar would be worth 4,210,500,000,000 German marks. To put this in context, a loaf of bread that cost 160 Marks at the end of 1922 would have cost 200,000,000,000 Marks by late 1923!
Though there were many factors that lead to this hyperinflation, much of it can be attributed to the Treaty of Versailles. This agreement required Germany to pay off its debts from the First World War using either gold or foreign money. When Germany ran out of gold, it started buying up foreign currency to make its payments. However, this made German marks relatively worthless due to the amount of money that the government had to create to buy other currencies.
The banknote comes with an archival document holder for preservation and handling. A Certificate of Authenticity is also included.
Our original glass and leatherette display boxes showcase your relic above a custom information card, with a design unique to History Hoard.