| Author |
 Replies: 35 / Views: 4,736 |
|
Pillar of the Community
United States
4883 Posts |
From Germany, a 1922 50 Pfennig and a 1923 200 Mark. Eevn at the beginning of 1922, the Mark was on shaky ground - this 50 Pfennig (equivalent to ½ of a Mark) had already become very minor coinage, being only worth roughly ¼¢ U.S. Still that the next year a similar coin of 400 times the face value was being struck says a lot in and of itself. But consider this: at the end of 1923, it took something on the order of 5 trillion Marks to buy $1 U.S. In other words, by that time the entire year's mintage of 200 Mark coins, totaling over 282 million pieces, every single one of them gathered together, would have been just enough to exchange for 1¢ U.S.! That's a face value calculation, of course. 282 million grams of aluminum was surely worth more than 1¢.   Colligo ergo sum
Edited by Lucky Cuss
07/05/2016 8:01 pm
|
|
|
|
Bedrock of the Community
Australia
21786 Posts |
Will we have relics of the Euro crash?
Not the first attempt at a universal European currency system.
I like collecting coins of the failed
Latin Monetary Union,
real numismatic history - these coins saw wide perfectly legal circulation in several countries.
How about the pattern pre Euro ECU coins?
|
|
Moderator
 United States
34397 Posts |
@luckycuss, yes the crazy economics that goes with hyperinflation. As I recall in Zimbabwe about ten years ago, enterprising homeowners were using the government issued paper money as wall paper becuase it was cheaper than actually purchasing wallpaper.
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
|
|
Pillar of the Community
United States
6130 Posts |
My high school history book had an old photo of a German child building a castle from bundles of currency comprising several billion (or trillion?) Marks, because the bundles were cheaper than genuine wood blocks. It's amazing how fast things can fall apart when the government throws in the towel and pulls the plug on the nation's currency.
|
|
Pillar of the Community
Poland
3201 Posts |
Were the 200 and 500 mark of any use by the time they were put into circulation?
|
|
Pillar of the Community
 United States
4883 Posts |
Quote:
Were the 200 and 500 mark of any use by the time they were put into circulation? By the end of January 1923, the 500 Mark coin had already sunk in exchange value to about 1¢ U.S. Whatever utility these coins possessed deteriorated very rapidly from that point onward, yet the government, evidently in denial over this state of affairs, continued to produce them in large quantities. Quote:
My high school history book had an old photo of a German child building a castle from bundles of currency comprising several billion (or trillion?) Marks, because the bundles were cheaper than genuine wood blocks.  Quote:
As I recall in Zimbabwe about ten years ago, enterprising homeowners were using the government issued paper money as wall paper becuase it was cheaper than actually purchasing wallpaper. The exact same thing happened in the Germany of 1923 as well.  Colligo ergo sum
|
|
Pillar of the Community
Norway
1358 Posts |
@sel: The Euro hasn't failed (yet). Or which crash do you refer to exactly? Your remarks are quite strange to me. The same goes for the ECU tokens. These are fantasy tokens that were made as concepts to make the unit of account in Europe a bit more concrete. The ECU never failed, as it never existed as a currency and it just ceased to exist when the Euro was introduced.  @Finn, Lucky Cuss: Those are the exact same pictures as I saw in my history book! Funny how things are used worldwide in the exact same matter. |
|
Pillar of the Community
Poland
3201 Posts |
This is indeed a well known image, even to me, although I cannot say where I saw it first.  Now you can try identifying any of these:  |
|
Pillar of the Community
United States
4883 Posts |
I'd seen that photograph of a woman feeding notes into the furnace before. One I hadn't seen until quite recently was this more lighthearted (albeit clearly satirical as well) take on the situation:  It should be noted that the dress would've been utterly disposable. Colligo ergo sum
|
|
Moderator
United States
34397 Posts |
Quote:
It should be noted that the dress would've been utterly disposable Because otherwise she would be guilty of money laundering?  "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
|
|
Pillar of the Community
United States
992 Posts |
That's a good one!
I've heard an old story about the man who took a wheelbarrow full of Marks to the corner bakery to buy a loaf of bread, the barrow wouldn't fit through the bakery door, so he left it outside while he made his deal for the bread. When he returned outside to get the money to pay, it was neatly stacked on the sidewalk, but his wheelbarrow was missing.
Some elderly folks from Germany told me they would order coffee and a roll at a cafe, and pay for it immediately. By the time they were finished with their simple breakfast, the price would be higher.
|
|
Pillar of the Community
United States
2637 Posts |
To be followed by:   First coin I ever owned where the date included the month. |
|
Pillar of the Community
United States
4883 Posts |
Quote:
First coin I ever owned where the date included the month. Not that it helped much. Towards the beginning of August 1923 the exchange rate was such that 200,000 marks equaled about 22¢ U.S. - as the month was ending, that had dropped to 1¾¢ U.S. and worse was yet to come. The legal tender 200 mark coin with which I stated this tread, of course, was worth a thousandth of those amounts.... Colligo ergo sum
|
|
Pillar of the Community
United States
2233 Posts |
I wonder if anyone wants to talk about Hungary's hyperinflation notes.
|
|
Pillar of the Community
United States
2637 Posts |
Quote:
talk about Hungary's hyperinflation notes How about in the World Paper Money and Banknote section? |
|
Pillar of the Community
Poland
3201 Posts |
And then, there were these:  Menden, Westphalia. Does anyone know what the inscription says? It's not standard German. |
| |
Replies: 35 / Views: 4,736 |
Posted 07/06/2016 12:16 am
