1922 50K Reichsbanknote

I've had this for many years and have always been curious about it. After going to work in the banking industry, I learned that until 1984 I could have exchanged it for an obscene amount, but I was at the liberty of my parents at the time and they had no interest in even trying. Is it still worth anything today?

 

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I will leave it to a German specialist, but inflation was "obscene" in Germany after WW1, so while I don't know if your note could have been cashed in 1984, the amount would certainly have been "obscenely low".

Dave

 

I got a quote from a foreign exchange specialist with Wells Fargo who quoted the 1984 value right at 20000. I just wonder if it has any collectible value today as I know it now has no monetary value.

 

Well, that person might have been fired if they actually gave you $20,000 for a 1922 50,000 Mark note. $20,000 is probably the right number as the exchange rate between *1984* Marks and Dollars, but your note had been seriously devalued many years before 1984.

Dave

 

Fair enough

 

For a quick look for value, e-bay is a good bet.

http://www.ebay.com/itm/German-50000-Mark-Reichsbanknote-Berlin-Nov-19-1922-/230630644788

 

Here is his little brother that I have....

 

Did you just ask German Marks to dollars? Or did you specify it was pre-WWII inflationary currency. Those are 50k marks, which are much different than 50k Deutschmarks.

 

Here is a link to the wiki on the inflation during the 20s, including a photo of a 50,000,000(50 million) mark note. It also has a chart showing the value of a paper mark compared to a gold mark, which at the height of the inflation was 1 trillion paper marks to 1 gold mark.

1,000,000,000,000 to 1

http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic

 

The marks on your note don't exist anymore, because the Government of the Second Reich (who issued your note) does not exist anymore. In fact, there was a whole seperate monetary system in history, the Reichsmark, that was legal tender in Germany between the marks on your note and the Deutschemark. It is unfortunately only worth collector value. In its condition, maybe $5.00 or so.

 

I specified. But that doesn't mean he paid attention. I appreciate all the feedback. You guys have been more than helpful.

 

It's not valuable anymore. Just keep it as a collection.

 

Apparently so. That Reichsmark note (and Ripley's "little brother") were issued in the Deutsches Reich, during the hyperinflation period. This money basically became worthless with the 1924 currency reform. Not sure until when, and at what rate, it could be exchanged.

"1984" makes no sense at all, as there was no Deutsches Reich then. Could have been a typo, as there was another currency cut in 1948. But by that time those notes from the 1920s were obsolete anyway.

Christian

 

Today, are exchangeable all currencies issued after 1948 by Federal Republic of Germany. Currencies of Democratic Republic of Germany (DDR) are worthless. Change is possible ONLY in Germany, at Bundesbank, and is € 0.51 for 1 Deutsche Mark.

petronius :smile

 

That is the point indeed - coins and notes from this country (Federal Republic of Germany) can still be redeemed; money from other countries (including Deutsches Reich, DDR, Saarland) cannot. And if the currency name is "Mark" or "Reichsmark" instead of Deutsche Mark, that is a pretty good hint: obsolete money alert. Both the 1984 date and the $20,000 amount are just bogus ...

Christian

 

When I was a kid (Late Stone Age) we had a German tailor who lived in our town who's parents fled Germany during the inflation, and he said he remembered seeing people exchange an entire wheelbarrow of paper currency for a loaf of bread.

 

Yes, and at the peak of that inflation people tried to spend their money (e.g. a week's wage) instantly - had they taken it home, it would have been almost worthless the next day. Not that it matters much in this particular context, but here is a story (in German) about how things went back then: http://einestages.spiegel.de/static/topicalbumbackground/4632/als_die_mark_vernichtet_wurde.html Two examples from that article:

* A family sold their house and wanted to emigrate to the US, but once they arrived at the port in Hamburg, they found out that all the money would not be sufficient for the tickets - and that it would not even be enough for the trip back to their home town either.
* Somebody has a cup of coffee at a café, at 5000 Marks, and then orders a second one. The bill says 14,000 Marks - as the price had gone up in the meantime.

Two photos from that story:
http://einestages.spiegel.de/external/ShowTopicAlbumBackground/a4632/l0/l0/F.html#featuredEntry
Bank notes are being weighed for a payment - counting them would take too long.
http://einestages.spiegel.de/external/ShowTopicAlbumBackground/a4632/l5/l0/F.html#featuredEntry
Kids playing with packs of worthless notes.

How much was bread shortly before the currency cut? Well, that 50,000 note from the first post would have gotten you a few crumbs. An entire loaf however would cost billions of marks.

Christian

 

There is an excellent book called "When Money Dies" that chronicles the collapse of the mark. It is available on Amazon.

 

I have a ,,,,,,,,,, in good condition.

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2. Do not give personal info in post, use PM if needed.

 

i hv the same note n please help me ..where can i exchange it to rands