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1934 Germany 50 Rentenmark Banknote
1934 Germany 50 Rentenmark Banknote

1934 Germany 50 Rentenmark Banknote

$ 116.16

Availability: 100 in stock
  • Refund will be given as: Money Back
  • All returns accepted: Returns Accepted
  • Item must be returned within: 14 Days
  • Return shipping will be paid by: Buyer

    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 (10
    12
    ) 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