Description: Rentenmark replaced the old Papiermark. Because of the economic crisis in Germany after the First World War, there was no gold available to back the currency. Luther thus used Helfferich's idea of a currency backed by real goods. The new currency was backed by the land used for agriculture and business. This was mortgaged (Rente is a technical term for mortgage in German) to the tune of 3.2 billion Goldmarks, based on the 1913 wealth charge called Wehrbeitrag which had helped fund the German war effort from 1914–1918. Notes worth 3.2 billion Rentenmarks were issued. The Rentenmark was introduced at a rate of one Rentenmark to equal one trillion (1012) old marks, with an exchange rate of one United States dollar to equal 4.2 Rentenmarks.[5]Please see the pictures because it is exactly what you gonna get We combined all shipments You only pay shipping only once
Price: 60 USD
Location: Millsboro, Delaware
End Time: 2024-11-19T01:28:37.000Z
Shipping Cost: 0 USD
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Item Specifics
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 14 Days
Refund will be given as: Money Back
Year: 1923
Type: Banknotes
Country: Germany
Country/Region of Manufacture: Germany
