Asked in European Coins
Can you say a 1923 5million mark of reichsbanknote still alive?
July 22, 2009 6:26PM
Unfortuantely, no. You see that note was issued by the Weimar Republic (1919 to 1933), which was the government formed up after the defeat of Imperial Germany in World War One and the abdication of Kaiser William II. This weak parliamentary government was continually rocked by polictical and social unrest, which were only made worse by a continually declining ecomonic situation. You think 5 million marks are a lot, by 1929 they were printing 100 Billion mark notes! Curiously, coins still held their value, so 1 pfennig coins still circulate at the same time as these monster notes. All of these conditons helped lay the ground work for the rise of the National Socialist German Workers Party and the election of Adolf Hitler to the office of Chancellor under the Presidency of Hindeburg in 1932. With Hindenburgs death in 1933, Hitler assumed the Presidency, and in 1936 declared the establishment of a new government, the "Third Reich". At this time all old bills were demonitised and no longer were valued as money. If your bill is in crisp uncirculated condition, it could be worth anywhere between $1 and $5 USD, unless it is a rare issue. The information in this answer is as I remember it from my reading so I apologise if there are a few inaccuracies.