Wara Scrip - Coin Community Forum

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Author	Replies: 3 / Views: 3,284
lettow Pillar of the Community United States 742 Posts	Posted 01/09/2013 1:24 pm Here is another item that was dredged up from my collection. The text that follows is from a Wikipedia article. This piece is from the German city of Ulm. The word Wära, invented by Timm and Rödiger, comes from the words Währung (currency) and währen ("to last"), in the sense of "lasting", "stable". One Wära corresponded to one Reichsmark. Wära banknotes were available in denominations of 1/2, 1, 2, 5 and 10 Wära. Each Wära banknote had a monthly demurrage fee of one percent of its nominal value. This fee could be balanced by the acquisition of demurrage stamps of 1/2, 1, 2, 5 and 10 Wära-cents (1 cent equalled 1 Reichspfennig). On the back of the Wära banknote was a series of printed fields, where the demurrage stamps could be glued onto. The idea of this measure was to place the currency under compulsory circulation. To avoid losing value, every owner of Wära currency had to spend their currency by its due date. After long preparations, Helmut Rödiger and Hans Timm founded the "Wära circulation agency" in Erfurt in October 1929 - almost coinciding with the Black Friday in New York City, United States and the succeeding Great Depression. Three years earlier, a Wära test had been conducted in the Physiocratic League, to which Rödinger and Timm belonged. The first success of the privately organised Wära currency agency was notable: in 1931, over 1000 businesses from all over the German Reich were members of the agency. Wära exchange stations were opened in several cities, where Reichsmark currency could be exchanged for Wära banknotes. "Wära accepted here!" was an advertisement found on numerous shop display windows. The Wara system of private scrip was supressed by the Reichsbank in 1931. Report this Post to the Staff

Buddy Rest in Peace United States 7075 Posts	Posted 01/09/2013 6:25 pm Very interesting. Thanks for sharing. Report this Post to the Staff
Jimjumper Valued Member United States 331 Posts	Posted 01/09/2013 8:57 pm Pretty cool! I could see it raising an eyebrow or two at my next club meeting. Report this Post to the Staff
Ark Valued Member Australia 192 Posts	Posted 01/09/2013 10:23 pm Lettow, you seem to have a large amount of unique notes. Keep posting them, they're really nice. Report this Post to the Staff
	Replies: 3 / Views: 3,284

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