In order to the hyper-inflation of the Mark between 1919 and 1924 a currency reform was realized in 1923 (November 15th): 1 Trillion Mark = 1 Rentenmark. This coin corresponded 20 billion Mark. With the implementation of the Rentenmark the inflation in Germany was stopped and after years in crises there was a solid currency.
The Rentenmark was not legal tender, by the way. But as the OP wrote, it was immediately accepted in Germany which basically brought the hyperinflation to an end. In mid-1924 it was replaced or rather complemented by the Reichsmark; both existed until the 1948 currency reform. The 2 Rentenpfennig coin was minted in 1923 and 1924; the 2 Reichspfennig coin (same design) between 1924 and 1936. What I also find interesting is that the designer of these first post-inflation coins (1 and 2 Rpf) was Reinhard Kullrich. He was the son of Friedrich W. Kullrich who had done the "small eagle" designs of the first coins of the monarchy. Christian
Rentenmark, incidentally, had a lot to do with real estate. Federal buildings and land were pledged as collateral for the new currency. I do not recall any forced liquidations to support the Rentenmark.
The Deutsche Rentenbank, which then issued the Rentenmark, relied on mandatory mortgage based contributions, basically from businesses/industry and agriculture. In a nutshell, from those who owned land or buildings for example. Christian
Something else to consider, the German Trillion, is our quadrillion so that 2 rentenpfennig would have been 20,000,000,000,000 marks. (The German groupings goes hundreds, thousands, millions, milliards, billions, and then trillions.)
@doug444: Sort of, yes. Think of it as a guarantee payment, to be paid by those who had not lost their fortune (or even got richer) during the hyperinflation. The Reichsmark introduced roughly a year later was based on "classical" material goods again. @Conder101: Your hint regarding the trillions is perfectly right (also see here). But "Coins-of-Germany" built that into his post. Thus 1 Rentenmark was 1,000,000,000,000 Marks ... Christian
The dated side of the 2-rentenpfennig Weimer period German coin almost became the current reverse, with modifications, of the USA Lincoln Cent in 2010. The Civil War era Union shield was chosen instead.
Keep in mind though that the "wheat" design had been in use on German coins before. This one was made between 1919 and 1922 ... Christian
Per our discussions of billions and trillions of marks last week, here is a typical hyperinflation stamp, 50 milliarden Marks (50 followed by 9 zeroes). The German government even sold advertising space in the margin of sheets of stamps; this one promotes a stamp dealer, and conveniently, provides his address. The faint curved lines are the watermark on the stamp paper. In mint condition, these high-value stamps are of nominal value, in this case about 50 cents each, but properly postally used on a contemporary envelope, more like $25-50 and up. This was the highest denomination issued. Milliardens of this type appeared about two months before the Rentenmark was introduced. After the Rentenmark, stamps like these were sold for scrap paper.
Indeed, and that was why the design was not chosen - because of the similarity to the German coin - which most of the US public wouldn't have known except for a resultant media explosion about it when someone mouthed off.
