Deutsche Mark: Difference between revisions
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{{short description|Currency of Germany from 1948 to 2002}} |
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{{Redirect|DEM}} |
{{Redirect|DEM}} |
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{{about|the mark issued by the Federal Republic of Germany|the mark issued by the German Democratic Republic|East German mark|the currency of the German Empire from 1873 to 1914|German mark (1871)}} |
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{{Use dmy dates|date=March 2022}} |
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{{Infobox Currency |
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{{Infobox currency |
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| currency_name_in_local = German mark <small>{{en icon}}</small><br/>Deutsche Mark <small>{{de icon}}</small> |
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| local_name1 = Deutsche Mark |
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| image_1 = Deutschemarknotes.png |
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| local_name_lang1 = de |
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| image_title_1 = Banknotes |
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| local_name2 = German mark |
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| image_2 = Dmark-coins-front.jpg |
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| local_name_lang2 = en |
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| image_title_2 = Coins |
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| name_abbr = D-Mark |
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| iso_code = DEM |
| iso_code = DEM |
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| image_1 = GIF of Series 4 of Deutsche Mark Banknotes.gif |
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| using_countries = {{Collapsible list |
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| image_title_1 = Deutsche Mark banknotes from 1989 |
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| title = {{DEU}} |
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| inflation_rate = 1.4%, December 2001 |
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| [[Image:Flag of Germany (1946-1949).svg|25px]] [[Trizone]] <small> (1948-1949) </small> <br /> {{flag|West Germany}} <small> (1949-1990) </small> </br> {{flagicon|Berlin}} [[West Berlin]] <small> (1949-1990) </small> </br> {{flag|East Germany}} <small> (July-October 1990) </small>}} |
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| using_countries = None, previously:{{Collapsible list |
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| unofficial_users = [[Image:Flag of Montenegro (1993-2004).svg|border|25px]] [[Republic of Montenegro (federal)|''Montenegro'']] <small> (1999-2001) </small> <br> {{flagicon|UN}} ''[[Kosovo (UNMIK)|Kosovo]]'' <small> (1999-2001) </small> |
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| title = |
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| {{flagdeco|Allied-occupied Germany}} [[Trizone]] <small>(1948–1949)</small> | {{flag|West Germany}} <small>(1949–1990)</small> | {{flagdeco|Berlin}} [[West Berlin]] <small>(1949–1990)</small> | {{flag|East Germany}} <small>(July–October 1990)</small> | {{flag|Germany}} <small>(1990–2002)</small>}} |
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| unofficial_users = {{collapsible list | |
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{{flagdeco|United Nations}} [[UNMIK]] <small>(1999–2002)<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/437844.stm|title=Kosovo adopts Deutschmark|date=3 September 1999|work=BBC|access-date=22 June 2013}}</ref></small> |
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| {{flagdeco|Serbia and Montenegro}} [[Serbia and Montenegro|''FR Yugoslavia'']] <small>(1992–2002, in parallel with the [[Yugoslav dinar]] until 2002)</small> |
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| {{flagdeco|Republic of Montenegro (1992–2006)}} ''[[Republic of Montenegro (1992–2006)|Republic of Montenegro]]'' <small>(1996–2002, in parallel with the [[Yugoslav dinar]] until 2002)</small> |
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| {{flagdeco|Bosnia and Herzegovina|1992}} ''[[Republic of Bosnia and Herzegovina]]'' <small>(1992–1998, in parallel with the [[Bosnia and Herzegovina dinar]])</small> |
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| {{flagdeco|Croatian Republic of Herzeg-Bosnia}} ''[[Croatian Republic of Herzeg-Bosnia]]'' <small>(1991–1996, in parallel with the [[Bosnia and Herzegovina dinar]], [[Croatian dinar]], and [[Croatian kuna]])</small> |
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| {{flagicon image|Flag of the Autonomous Province of Western Bosnia.svg}} ''[[Autonomous Province of Western Bosnia]]'' <small>(1993–1995, in parallel with the [[United States dollar]], [[French franc]], [[Croatian kuna]], and [[Yugoslav dinar]])</small> |
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| {{flagdeco|United Nations}} [[United Nations Transitional Administration for Eastern Slavonia, Baranja and Western Sirmium|UNTAES]] <small>(1996–1998, in parallel with the [[Croatian kuna]] and [[Yugoslav dinar]])</small><ref name="Global Governance">{{cite journal|title=The Political Challenges of Administering Eastern Slavonia|journal = Global Governance|volume = 10|issue = 1|author= Derek Boothby| publisher= [[Global Governance: A Review of Multilateralism and International Organizations]] |pages= 37–51 (15 pages)|date= Jan–Mar 2004|doi = 10.1163/19426720-01001005|jstor = 27800508}}</ref>}} |
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| ERM_since = 13 March 1979 |
| ERM_since = 13 March 1979 |
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| ERM_fixed_rate_since = 31 December 1998 |
| ERM_fixed_rate_since = 31 December 1998 |
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| euro_replace_non_cash = 1 January 1999 |
| euro_replace_non_cash = 1 January 1999 |
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| euro_replace_cash = 1 |
| euro_replace_cash = 1 March 2002 |
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| ERM_fixed_rate = 1.95583 |
| ERM_fixed_rate = DM 1.95583 |
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| pegged_by = [[Bosnia and Herzegovina convertible mark]], [[Bulgarian lev]] at par |
| pegged_by = [[Bosnia and Herzegovina convertible mark]], [[Bulgarian lev]] at par |
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| subunit_ratio_1 = 1 |
| subunit_ratio_1 = {{frac|1|100}} |
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| subunit_name_1 = [[Pfennig]] |
| subunit_name_1 = [[Pfennig]] |
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| unit = Mark |
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| symbol = DM |
| symbol = DM |
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| symbol_subunit_1 = |
| symbol_subunit_1 = pf |
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| plural = Mark |
| plural = Mark |
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| plural_subunit_1 = Pfennig |
| plural_subunit_1 = Pfennig |
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| |
| frequently_used_coins = 1pf, 2pf, 5pf, 10pf, 50pf, DM1, DM2, DM5 |
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| frequently_used_banknotes = |
| frequently_used_banknotes = DM5, DM10, DM20, DM50, DM100, DM200 |
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| rarely_used_banknotes = |
| rarely_used_banknotes = DM500, DM1,000 |
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| issuing_authority = [[Deutsche Bundesbank]] |
| issuing_authority = {{lang|de|[[Deutsche Bundesbank]]|italic=no}} |
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| issuing_authority_website = www.bundesbank.de |
| issuing_authority_website = {{URL|www.bundesbank.de}} |
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| printer = {{plainlist| |
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| obsolete_notice = Y |
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* [[Bundesdruckerei]] |
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* [[Giesecke & Devrient]] |
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}} |
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| printer_website = {{plainlist| |
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* [http://www.bundesdruckerei.de/ Bundesdruckerei] |
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* [http://www.gi-de.com/ Giesecke & Devrient] |
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}} |
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| mint = {{hidden|List|{{plainlist| |
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* [[Bavarian Central Mint|Bayerisches Hauptmünzamt]], Munich ([[Mint mark]]: D) |
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* [[Hamburgische Münze]] (J) |
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* [[Staatliche Münze Berlin]] (A) |
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* [[Staatliche Münzen Baden-Württemberg]], formed by Staatliche Münze Karlsruhe (G) and Staatliche Münze Stuttgart (F) |
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}}}} |
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| mint_website = {{hidden|List|{{plainlist| |
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* [http://www.hma.bayern.de Munich mint] |
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* [http://www.muenzehamburg.de Hamburg mint] |
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* [http://www.muenze-berlin.de Berlin mint] |
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* [http://www.staatlichemuenzenbw.de Karlsruhe-Stuttgart mints] |
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}}}} |
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| obsolete = yes |
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}} |
}} |
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The '''Deutsche Mark''' ({{IPA|de|ˈdɔʏtʃə ˈmaʁk|lang|De-Deutsche Mark.ogg}}; "German [[mark (currency)|mark]]"), abbreviated "'''DM'''" or "'''D-Mark'''" ({{IPA|de|ˈdeːˌmaʁk||D-Mark.ogg}}), was the official [[currency]] of [[West Germany]] from 1948 until 1990 and later the unified [[Germany]] from 1990 until the adoption of the [[euro]] in 2002. In English, it was typically called the "'''Deutschmark'''" ({{IPAc-en|ˈ|d|ɔɪ|tʃ|m|ɑr|k}} {{respell|DOYTCH|mark}}). One Deutsche Mark was divided into 100 [[pfennig]]s. |
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The '''Deutsche Mark (DEM, DM)''' or German mark was the official [[currency]] of [[West Germany]] and, from 1990 until the adoption of the [[euro]], all of unified [[Germany]]. It was first issued under [[Bizone|Allied occupation]] in 1948 replacing the [[German Reichsmark|Reichsmark]], and served as the [[Germany|Federal Republic of Germany]]'s official currency from its founding the following year until 1999, when the Mark was replaced by the [[euro]]; its [[coin]]s and [[banknote]]s remained in circulation, defined in terms of euros, until the introduction of euro notes and coins in early 2002. The Deutsche Mark ceased to be [[legal tender]] immediately upon the introduction of the euro—in contrast to the other [[eurozone]] nations, where the euro and legacy currency circulated side by side for up to two months. However, DM coins and banknotes continued to be accepted as valid forms of payment in Germany until 28 February 2002. |
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It was first issued under [[Bizone|Allied occupation]] in 1948 to replace the [[Reichsmark]] and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the [[Council of the European Union]] fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1.<ref>{{cite web|date=1999-01-01|title=Determination of the euro conversion rates|url=http://www.ecb.int/press/pr/date/1998/html/pr981231_2.en.html|url-status=live|archive-url=https://web.archive.org/web/20071201214918/http://www.ecb.int/press/pr/date/1998/html/pr981231_2.en.html|archive-date=2007-12-01|access-date=2008-02-20|publisher=[[European Central Bank]]}}</ref> In 1999, the Deutsche Mark was replaced by the euro; its [[coin]]s and [[banknote]]s remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be [[legal tender]] immediately upon the introduction of the euro—in contrast to the other [[eurozone]] states, where the euro and legacy currency circulated side by side for up to two months. Mark coins and banknotes continued to be accepted as valid forms of payment in Germany until 1 March 2002. |
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The [[Deutsche Bundesbank]] has guaranteed that all DM in cash form may be changed into euros indefinitely, and one may do so at any branch of the Bundesbank and banks worldwide. From time to time, some merchants hold promotions where Deutsche Marks are accepted as payment. |
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The {{lang|de|[[Deutsche Bundesbank]]|italic=no}} has guaranteed that all German marks in cash form may be changed into euros indefinitely, and one may do so in person at any branch of the Bundesbank in Germany. Banknotes and coins can even be sent to the Bundesbank by mail.<ref>{{cite web | title = Exchanging DM for euro | publisher = [[Bundesbank]] | url = http://www.bundesbank.de/Redaktion/EN/Standardartikel/Tasks/Cash_management/free_exchange_dm_euro.html | access-date = 2015-01-04 | url-status = live | archive-url = https://web.archive.org/web/20150103205121/http://www.bundesbank.de/Redaktion/EN/Standardartikel/Tasks/Cash_management/free_exchange_dm_euro.html | archive-date = 2015-01-03 }}</ref> In 2012, it was estimated that as many as 13.2 billion marks were in circulation, with one poll from 2011 showing a narrow majority of Germans favouring the currency's restoration (although only a minority believed this would bring any economic benefit).<ref>{{cite web|url=http://theweek.com/article/index/230830/why-are-germans-still-using-the-deutsche-mark|title=Why are Germans still using the deutsche mark?|date=19 July 2012|website=theweek.com|access-date=27 April 2018|url-status=live|archive-url=https://web.archive.org/web/20141213041942/http://theweek.com/article/index/230830/why-are-germans-still-using-the-deutsche-mark|archive-date=13 December 2014}}</ref><ref>{{cite web |url=https://www.reuters.com/article/us-eurozone-germany-mark-idUSTRE7941M320111005 |title=Most Germans want Deutsche mark back, poll shows |date=2011-10-05 |access-date=2021-09-24 |website=reuters.com |url-status=live |archive-url=https://web.archive.org/web/20200521233900/https://www.reuters.com/article/us-eurozone-germany-mark-idUSTRE7941M320111005 |archive-date=2020-05-21}}</ref> Polls in the early 2020s indicated only a minority of Germans supported reintroduction of the Deutsche Mark.<ref>{{cite web|date=2021-12-28|title=RTL/ntv Trendbarometer: Sehnsucht nach der D-Mark geringer als noch vor zehn Jahren|url=https://www.presseportal.de/pm/72183/5109174|access-date=2022-12-09|publisher=Presseportal|language=de}}</ref> |
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On 31 December 1998, the [[European Central Bank]] (ECB) fixed the irrevocable exchange rate, effective 1 January 1999, for DM to [[euro]] as DM 1.95583 = one euro.<ref>{{cite web | title = Determination of the euro conversion rates | publisher = [[European Central Bank]] | date = 1999-01-01 | url = http://www.ecb.int/press/pr/date/1998/html/pr981231_2.en.html | format = HTML | accessdate = 2008-02-20}}</ref> |
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One Deutsche Mark was divided into 100 ''[[Pfennig]]''. |
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==History== |
==History== |
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===Before 1871=== |
===Before 1871=== |
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{{See also|North German thaler|South German gulden|German gold mark}} |
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A Mark had been the currency of Germany since its [[Unification of Germany|original unification]] in 1871. Before that time, the different [[List of German Confederation member states|German states]] issued a variety of different currencies, though most were linked to the [[Vereinsthaler]], a silver coin containing 16 2/3 [[gram]]s of pure silver. Although the Mark was based on gold rather than silver, a fixed exchange rate between the Vereinsthaler and the Mark of 3 Mark = 1 Vereinsthaler was used for the conversion. |
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A mark had been the currency of Germany since its [[Unification of Germany|original unification]] in 1871. Before that time, the different [[List of German Confederation member states|German states]] issued a variety of different currencies, the most common being the [[North German thaler]] and the [[South German gulden]]. By 1857, both currencies were linked to the [[Vereinsthaler]], a silver coin containing {{frac|16|2|3}} [[gram]]s of pure silver. Although the [[German gold mark]] was based on gold rather than silver (at 2.79 marks per gram of fine gold), a fixed exchange rate between the Vereinsthaler and the mark of 3 marks = 1 Vereinsthaler was used for the conversion. |
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===1873–1948=== |
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The first mark, known as the ''[[German mark (1871)|Goldmark]]'', was introduced in 1873. With the outbreak of [[World War I]], the mark was taken off the gold standard. The currency thus became known as the ''[[Papiermark]]'', especially as high [[inflation]], then [[Hyperinflation in the Weimar Republic|hyperinflation]] occurred and the currency became exclusively made up of paper money. The ''Papiermark'' was replaced by the ''[[Rentenmark]]'' (RM) from 15 November 1923, and the ''[[Reichsmark]]'' (ℛ︁ℳ︁) in 1924. |
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===Early military occupation following WWII=== |
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===1873–1948=== |
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During the first two years of occupation the occupying powers of France, United Kingdom, United States, and the Soviet Union were not able to successfully negotiate a possible currency reform in Germany. Due to the strains between the Allies each zone was governed independently as regards monetary matters. The US occupation policy was governed by the directive [[JCS 1067]] (in effect until July 1947), which forbade the US military governor "to take any steps to strengthen German financial structure".<ref name="Nicholas Balabkins p. 145">Nicholas Balabkins, ''"Germany Under Direct Controls: Economic Aspects of Industrial Disarmament 1945–1948"'', Rutgers University Press, 1964 p. 145</ref> As a consequence a separate monetary reform in the U.S. zone was not possible.<ref name="Nicholas Balabkins p. 145"/> Each of the Allies printed its [[AM-Mark|own occupation currency]]. |
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The first Mark, known as the [[German gold mark|Goldmark]], was introduced in 1873. With the outbreak of the [[World War I]], the Mark was taken off the gold standard. The currency thus became known as the ''[[German papiermark|Papiermark]]'', especially as high [[inflation]], then [[1920s German inflation|hyperinflation]] occurred and the currency became exclusively made up of paper money. The ''Papiermark'' was replaced by the ''[[German rentenmark|Rentenmark]]'' in late 1923 and the ''[[German reichsmark|Reichsmark]]'' (RM) in 1924. |
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===Currency reform of June 1948=== |
===Currency reform of June 1948=== |
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The Deutsche Mark was introduced on |
The Deutsche Mark was officially introduced on Sunday 20 June 1948 by [[Ludwig Erhard]]. Large amounts were exchanged for 10 ℛ︁ℳ︁ to 65pf. In addition, each person received a per capita allowance of DM 60 in two parts, the first being DM 40 and the second DM 20.<ref>[http://www.bundesbank.de/Redaktion/EN/Downloads/Publications/Monthly_Report_Articles/2002/2002_03_circulation_mark.pdf?__blob=publicationFile Bundesbank.de] {{webarchive|url=https://web.archive.org/web/20170124020614/http://www.bundesbank.de/Redaktion/EN/Downloads/Publications/Monthly_Report_Articles/2002/2002_03_circulation_mark.pdf?__blob=publicationFile |date=2017-01-24 }} Accessed 2015-01-04</ref> |
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A few weeks later Erhard, acting against orders, issued an edict abolishing many economic controls which had been originally implemented by the Nazis, and which the Allies had not removed. He did this, as he often confessed, on Sunday because the offices of the American, British, and French occupation authorities were closed that day. He was sure that if he had done it when they were open, they would have countermanded the order.<ref name=cowen>Tyler Cowen, "The Marshall Plan: myths and realities" in [http://www.gmu.edu/centers/publicchoice/faculty%20pages/Tyler/Marshall_Plan.pdf U.S. Aid to the Developing World, A Free Market Agenda] {{webarchive|url=https://web.archive.org/web/20110122232515/http://www.gmu.edu/centers/publicchoice/faculty%20pages/Tyler/Marshall_Plan.pdf |date=2011-01-22 }}, Heritage Foundation, p.65</ref> |
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The introduction of the new currency was intended to protect western Germany from a second wave of [[hyperinflation]] and to stop the rampant barter and [[black market]] trade (where American cigarettes acted as currency). Although the new currency was initially only distributed in the three western occupation zones outside Berlin, the move angered the [[Soviet]] authorities, who regarded it as a threat. The Soviets promptly cut off all [[road]], [[Rail transport|rail]] and [[canal]] links between the three western zones and West Berlin – starting the [[Berlin Blockade]]. In response the United States distributed the new currency in Western Berlin as well. |
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The introduction of the new currency was intended to protect western Germany from a second wave of [[hyperinflation]] and to stop the rampant barter and [[black market]] trade (where cigarettes were used as currency). Although the new currency was initially only distributed in the three western occupation zones outside Berlin, the move angered the [[Soviet Union|Soviet]] authorities, who regarded it as a threat. The Soviets promptly cut off all road, rail and canal links between the three western zones and [[West Berlin]], starting the [[Berlin Blockade]]. In response, the U.S. and Britain launched an airlift of food and coal and distributed the new currency in West Berlin as well. |
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===Currency reform in the Soviet occupation zone=== |
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In the [[Soviet occupation zone]] of Germany (later the [[German Democratic Republic]]), the [[East German mark|East German Mark]] (also named "Deutsche Mark" from 1948-1964) was introduced a few days afterwards in the form of Reichsmark and Rentenmark notes with adhesive stamps to stop the flooding in of Reichsmark and Rentenmark notes from the West. In July 1948, a completely new series of East German Mark banknotes were issued. |
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====Economics of 1948 currency reform==== |
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===''Bank deutscher Länder'' and the ''Deutsche Bundesbank''=== |
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Since the 1930s, prices and wages had been controlled, but money had been plentiful. That meant that people had accumulated large paper assets, and that official prices and wages did not reflect reality, as the black market dominated the economy and more than half of all transactions were taking place unofficially. The reform replaced the old money with the new Deutsche Mark at the rate of one new per ten old. This wiped out 90% of government and private debt, as well as private savings. Prices were decontrolled, and labor unions agreed to accept a 15% wage increase, despite the 25% rise in prices. The result was the prices of German export products held steady, while profits and earnings from exports soared and were poured back into the economy. The currency reforms were simultaneous with the $1.4 billion in [[Marshall Plan]] money coming in from the United States, which primarily was used for investment. In addition, the Marshall plan forced German companies, as well as those in all of Western Europe, to modernize their business practices, and take account of the wider market. |
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Later in 1948, the ''[[Bank deutscher Länder]]'' assumed responsibility, followed in 1957 by the [[Deutsche Bundesbank]]. The DM earned a reputation as a strong [[store of value]] at times when other national currencies succumbed to periods of [[inflation]]. It became a source of national pride and an anchor for the country's economic prosperity, particularly during the years of the ''[[Wirtschaftswunder]]'' in the 1950s. In the 1990s, opinion polls showed a majority of Germans opposed to the adoption of the euro; polls today show a significant number would prefer to return to the Mark. |
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Marshall plan funding overcame bottlenecks in the surging economy caused by remaining controls (which were removed in 1949), and opened up a greatly expanded market for German exports. Overnight, consumer goods appeared in the stores, because they could be sold for higher prices.<ref>{{cite book |first=Frank B. |last=Tipton |title=History of Modern Germany since 1815 |location=Berkeley |publisher=University of California Press |year=2003 |pages=511–13 |isbn=0-520-24050-2 }}</ref><ref>{{cite journal |first=Heinz |last=Sauermann |title=The Consequences of the Currency Reform in Western Germany |journal=[[Review of Politics]] |volume=12 |issue=2 |year=1950 |pages=175–196 |doi=10.1017/S0034670500045009 |jstor=1405052 |s2cid=145428438 }}</ref> While the availability of consumer goods is seen as a giant success story by most historians of the present, the perception at the time was a different one: prices were so high that average people could not afford to shop, especially since prices were free-ranging but wages still fixed by law. Therefore, in the summer of 1948 a giant wave of strikes and demonstrations swept over West Germany, leading to an incident in Stuttgart where strikers were met by US tanks ("Stuttgarter Vorfälle"). Only after the wage-freeze was abandoned, Deutschmark and free-ranging prices were accepted by the population.<ref>Jörg Roesler: Die Stuttgarter Vorfälle vom Oktober 1948. Zur Entstehung der Sozialen Marktwirtschaft in der Bundesrepublik Deutschlands, in: [[Jahrbuch für Forschungen zur Geschichte der Arbeiterbewegung]], No I/2007; Uwe Fuhrmann: Stuttgart 48 und die soziale Marktwirtschaft, in: Fuhrman et. a. (eds.): Ignoranz und Inszenierung, Münster 2012</ref> |
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===The DM's role in German reunification=== |
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The Deutsche Mark played an important role in the [[German re-unification|reunification]] of Germany. It was introduced as the official currency of [[German Democratic Republic|East Germany]] in July 1990, replacing the East German Mark ''(Mark der DDR)'', in preparation for unification on 3 October 1990. East German marks were exchanged for DM at a rate of 1:1 for the first 4000 Marks and 2:1 for larger amounts. Before reunification, each GDR-citizen coming to West-Germany was given Begrüßungsgeld, greeting-money, a per capita-allowance of 100 DM in cash. |
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=== |
====Currency reform in the Soviet occupation zone==== |
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In the [[Soviet occupation zone]] of Germany (later the [[German Democratic Republic]]), the [[East German mark]] (also named "Deutsche Mark" from 1948 to 1964 and colloquially referred to as the ''Ostmark''—literally ''Eastmark'') was introduced a few days afterwards in the form of Reichsmark and Rentenmark notes with adhesive stamps to stop the flooding in of Reichsmark and Rentenmark notes from the West. In July 1948, a completely new series of East German mark banknotes was issued. |
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The DM had a reputation as one of the world's most stable currencies; this was based on the monetary policy of the ''Bundesbank''. The policy was "hard" in relation to the policies of certain other central banks in Europe. The "hard" and "soft" was in respect to the aims of inflation and political interference. This policy is the foundation of the European Central Bank's present policy towards the euro. |
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====''Bank deutscher Länder'' and the ''Deutsche Bundesbank''==== |
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Later in 1948, the ''[[Bank deutscher Länder]]'' ("Bank of the German States") assumed responsibility, followed in 1957 by the {{lang|de|[[Deutsche Bundesbank]]|italic=no}}. The Deutsche Mark earned a reputation as a strong [[store of value]] at times when other national currencies succumbed to periods of [[inflation]].{{Citation needed|date=August 2018}} It became a source of national pride and an anchor for the country's economic prosperity,{{Citation needed|date=August 2018}} particularly during the years of the ''[[Wirtschaftswunder]]'' in the 1950s. |
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===Currency union with the Saarland=== |
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The population in the [[Saar (protectorate)|Saar Protectorate]] rejected in a referendum the proposal to turn it into a "European territory". Despite French pre-referendum claims that a "no" vote would mean that the Saar would remain a French [[protectorate]] it in fact resulted in the incorporation of the Saar into the [[West Germany|Federal Republic of Germany]] on 1 January 1957. The new German [[States of Germany|member state]] of the [[Saarland]] maintained its currency, the [[Saar franc]], which was in a currency union at par with the [[French franc]]. On 9 July 1959 the Deutsche Mark replaced the Saar franc at a ratio of 100 francs = DM 0.8507. |
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===German reunification=== |
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The Deutsche Mark played an important role in the [[German reunification|reunification]] of Germany. It was introduced as the official currency of [[German Democratic Republic|East Germany]] in July 1990, replacing the [[East German mark]] (''Mark der DDR''), in preparation for unification on 3 October 1990. East German marks were exchanged for Deutsche Marks at a rate of 1:1 for the first M 4,000 and 2:1 for larger amounts. Before reunification, each citizen of East Germany coming to West Germany was given ''Begrüßungsgeld'' (welcome money), a per capita allowance of DM 100 in cash. The government of Germany and the Bundesbank were in major disagreement over the exchange rate between the East German mark and the German mark. |
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France and the United Kingdom were opposed to German reunification, and attempted to influence the [[Soviet Union]] to stop it.<ref name="Times2009.9.11">{{cite news |url=https://www.thetimes.co.uk/article/thatcher-told-gorbachev-britain-did-not-want-german-reunification-vwjg8nq375j |title=Thatcher told Gorbachev Britain did not want German reunification|access-date=April 30, 2022 |date=September 11, 2009 |first=Michael|last= Binyon |publisher=Times |location=London }}</ref> However, in late 1989 France extracted German commitment to the [[Economic and Monetary Union of the European Union|Monetary Union]] in return for support for German reunification.<ref name="DW-world2009.11.08">{{cite web |url=http://www.dw-world.de/dw/article/0,,4861759,00.html |title=Germany's neighbors try to redeem their 1989 negativity |author=Ben Knight |date=2009-11-08 |access-date=2009-11-09 |work=Deutsche Welle |url-status=live |archive-url=https://web.archive.org/web/20091111174630/http://www.dw-world.de/dw/article/0,,4861759,00.html |archive-date=2009-11-11 }}</ref> |
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==Stability== |
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The German mark had a reputation as one of the world's most stable currencies; this was based on the monetary policy of the ''Bundesbank''. The policy was "hard" in relation to the policies of certain other central banks in Europe. The "hard" and "soft" was in respect to the aims of inflation and political interference. This policy was the foundation of the [[European Central Bank]]'s present policy{{clarify |reason=For quite some time the ECB has been accused by German politicians and economists for abandoning this idea in favor of a softer euro and supposedly politicized decisions like QE. Referring to a "present" policy seems to be outdated or a POV statement, judged differently by various observers. Referring to an initial policy or the treaty framework governing it seems to be more appropriate and less controversial.|date=January 2018}} towards the euro. The German mark's stability was greatly apparent in 1993, when speculation on the French franc and other European currencies caused a change in the [[European Exchange Rate Mechanism]]. However, it should be remembered that "hard" is relative only if it is compared to other currencies, as in its 53-year history, the purchasing power of the German mark was reduced by over 70%. |
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==Coins== |
==Coins== |
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The first Deutsche Mark coins were issued by the {{lang|de|[[Bank deutscher Länder]]}} in 1948 and 1949. From 1950, the inscription {{lang|de|Bundesrepublik Deutschland}} (Federal Republic of Germany) appeared on the coins. These coins were issued in denominations of 1pf, 2pf, 5pf, 10pf, and 50pf. The 1pf and 2pf coins were struck in bronze clad steel (although during some years the 2pf was issued in solid bronze) while 5pf and 10pf were brass clad steel and the 50-pfennig was in [[cupronickel]]. In 1950, cupronickel DM1 coins were released, while a cupronickel DM2 and a .625 silver DM5 were released in 1951. Cupronickel replaced silver in the DM5 in 1975. The DM2 and DM5 coins have often been used for commemorative themes, though typically only the generic design for the DM5 is intended for circulation. Commemorative silver DM10 coins have also been issued which have periodically found their way into circulation. Unlike other European countries, Germany retained the use of the smallest coins (1pf and 2pf) until adoption of the euro. |
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The first DM coins were issued by the [[Bank deutscher Länder]] in 1948 and 1949. From 1950, the inscription ''Bundesrepublik Deutschland'' (Federal Republic of Germany) appeared on the coins. |
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{|class="wikitable" style="font-size: 90%" |
{|class="wikitable" style="font-size: 90%" |
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!Image |
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!Denomination |
!Denomination |
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!Dates issued |
!Dates issued |
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!Composition |
!Composition |
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!Diameter |
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!Obverse |
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!Reverse |
!Reverse |
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!Obverse<ref name="bbank robverse">{{cite web|url=http://www.bundesbank.de/bibliothek/bibliothek_sammlung_bildarchiv_mbrd.en.php|title=Coins of the Federal Republic of Germany|work=Coin and banknote collection|access-date=2 May 2010|url-status=dead|archive-url=https://web.archive.org/web/20090708095434/http://www.bundesbank.de/bibliothek/bibliothek_sammlung_bildarchiv_mbrd.en.php|archive-date=8 July 2009}}</ref> |
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|- |
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|-{{Coin-copper-color}} |
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|1 Pfennig |
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|style="text-align:center" | |
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|1948–2001 |
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|1pf |
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|1948–1949: Bronze plated steel<br>1950–2001: Copper plated steel |
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|1948–2001 |
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|Oak sprig |
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|1948–1949: Bronze-plated steel<br />1950–2001: Copper-plated steel |
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|16.5 mm |
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|Denomination between rye stalks |
|Denomination between rye stalks |
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|- |
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|2 Pfennig |
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|1950–2001 |
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|1950–1968: Bronze<br> 1968–2001: Bronze plated steel |
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|Oak sprig |
|Oak sprig |
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|-{{Coin-copper-color}} |
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|style="text-align:center" | |
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|2pf |
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|1949–2001 |
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|1949–1968: Bronze<br />1968–2001: Bronze-plated steel |
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|19.25 mm |
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|Denomination between rye stalks |
|Denomination between rye stalks |
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|- |
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|5 Pfennig |
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|1949–2001 |
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|Brass plated steel |
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|Oak sprig |
|Oak sprig |
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|-{{Coin-yellow-color}} |
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|style="text-align:center" | |
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|5pf |
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|1949–2001 |
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|Brass-plated steel |
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|18.5 mm |
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|Denomination between rye stalks |
|Denomination between rye stalks |
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|- |
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|10 Pfennig |
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|1949–2001 |
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|Brass plated steel |
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|Oak sprig |
|Oak sprig |
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|-{{Coin-yellow-color}} |
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|style="text-align:center" | |
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|10pf |
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|1949–2001 |
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|Brass-plated steel |
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|21.5 mm |
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|Denomination between rye stalks |
|Denomination between rye stalks |
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|Oak sprig |
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|- |
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|-{{Coin-silver-color}} |
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|50 Pfennig |
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|style="text-align:center" | [[File:50-PF-Coin-German.jpg|120px|50 pfennig]] |
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|1949–2001 |
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|50pf |
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|1949–2001 |
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|Cupro-nickel |
|Cupro-nickel |
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|20 mm |
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|Woman planting an oak seedling |
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|Denomination |
|Denomination |
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|Woman planting an oak seedling<ref>The sculptor Richard Martin Werner designed the woman relief after his wife [[:de:Gerda Johanna Werner|Gerda Johanna Werner]] {{in lang|de}}.</ref> |
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|- |
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|-{{Coin-silver-color}} |
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|1 DM |
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|style="text-align:center" | [[File:1-DM-Coin-German.jpg|120px|1 Deutsche Mark]] |
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|1950–2001 |
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|DM 1 |
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|1950–2001 |
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|Cupro-nickel |
|Cupro-nickel |
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|23.5 mm |
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|[[German eagle]] |
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|Denomination between oak leaves |
|Denomination between oak leaves |
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|[[German eagle]] |
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|- |
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|-{{Coin-silver-color}} |
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|2 DM |
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|style="text-align:center" | [[File:DEU-2m5 2a.jpg|120px|2 Deutsche Mark]] |
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|1951, 1957–2001 |
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|rowspan=3|DM 2 |
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|1951–1956 |
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|Cupro-nickel |
|Cupro-nickel |
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|25.5 mm |
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|Denomination between rye stalks and grapes<ref>[http://sammler.com/muenzdatenbank/artikel.asp?Sparte=BRD_2_Mark_1951&laden=BRD-M%FCnzen&sprache=deutsch Sammler.com] {{webarchive|url=https://web.archive.org/web/20180427233448/http://sammler.com/muenzdatenbank/artikel.asp?Sparte=BRD_2_Mark_1951&laden=BRD-M%FCnzen&sprache=deutsch |date=2018-04-27 }} Withdrawn on 1 July 1958 over confusion with the similarly designed DM 1</ref> |
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|[[German eagle]] |
|[[German eagle]] |
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|-{{Coin-silver-color}} |
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|1951: Denomination between rye stalks and grapes<ref>http://sammler.com/muenzdatenbank/artikel.asp?Sparte=BRD_2_Mark_1951&laden=BRD-M%FCnzen&sprache=deutsch Withdrawn on 1 July 1958 due to confusion with the similarly desiged 1 DM</ref><br>1957–1971: [[Max Planck]]<br>1969–1987: [[Konrad Adenauer]]<br>1970–1987: [[Theodor Heuss]]<br>1979–2001: [[Kurt Schumacher]]<br>1988–2001: [[Ludwig Erhard]]<br>1990–1994: [[Franz Josef Strauß]]<br>1994–2001: [[Willy Brandt]] |
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|style="text-align:center" | |
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|- |
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|1957–1971 |
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|5 DM |
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|Cupro-nickel |
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|1951–2001 |
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|26.75 mm |
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|1951–1974: Silver<br>1975–2001: Cupro-nickel |
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|[[Max Planck]] |
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|[[German eagle]],<br /> |
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denomination below |
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|-{{Coin-silver-color}} |
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|style="text-align:center" | |
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|1969–2001 |
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|Cupro-nickel ({{abbr|Cu|copper}} 75% {{abbr|Ni|nickel}} 25%) |
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|26.75 mm |
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|1969–1987: [[Konrad Adenauer]]<br />1970–1987: [[Theodor Heuss]]<br />1979–1993: [[Kurt Schumacher]]<br />1988–2001: [[Ludwig Erhard]]<br />1990–2001: [[Franz Josef Strauss]]<br />1994–2001: [[Willy Brandt]] |
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|[[German eagle]],<br /> |
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denomination below |
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|-{{Coin-silver-color}} |
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|style="text-align:center" | |
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|rowspan=2|DM 5 |
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|1951–1974 |
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|.625 silver ({{abbr|Ag|silver}} 62.5% {{abbr|Cu|copper}} 37.5%) |
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|29 mm |
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|Denomination |
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|[[German eagle]] |
|[[German eagle]] |
||
|-{{Coin-silver-color}} |
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|style="text-align:center" | |
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|1975–2001 |
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| Cupro-nickel ({{abbr|Cu|copper}} 75% {{abbr|Ni|nickel}} 25%) |
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|29 mm |
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|Denomination |
|Denomination |
||
|[[German eagle]] |
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|- |
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|} |
|} |
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The weights and dimensions of the coins can be found in an FAQ of the {{lang|de|[[Deutsche Bundesbank|Bundesbank]]|italic=no}}.<ref name="bundesbank_coins">{{cite web |url=https://www.bundesbank.de/en/tasks/cash-management/dm-banknotes-and-coins/-/dm-coins-intended-for-circulation-623716 |title=Deutsche Mark coins - Frequently Asked Questions (FAQ) |year=2021 |publisher=[[Deutsche Bundesbank]] (FAQ) |access-date=2 June 2021 }}</ref> Unlike other countries (such as Australia) there was no attempt or proposal suggested for the withdrawal of the 1pf and 2pf coins. Both coins were still in circulation in 2001 and supermarkets in particular still marked prices to the nearest pfennig. This penchant for accuracy continues with the euro (while [[Finland]] or the [[Netherlands]] for example, price to the nearest 5 cents) with the 1-cent coin still encountered in Germany. |
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There were a considerable number of [[Coinage of the Federal Republic of Germany|commemorative silver 5 and 10 DM coins]], which actually had the status of [[legal tender]] but were rarely seen outside of collectors' circles. |
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There were a considerable number of [[coinage of the Federal Republic of Germany|commemorative silver DM 5 and DM 10 coins]], which actually had the status of [[legal tender]] but were rarely seen outside of collectors' circles. |
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[[Image:Deutsche Mark(Gold-2001).jpg|thumb|right|Gold 1 DM coin]] |
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On 27 December 2000, the German government enacted a law authorizing the Bundesbank to issue, in 2001, a special .999 pure gold 1 DM coin commemorating the end of the DM. The coin had the exact design and dimensions of the circulating cupro-nickel 1 DM coin, with the exception of the inscription on the reverse, which read "Deutsche Bundesbank" (instead of "Bundesrepublik Deutschland"), as the Bundesbank was the issuing authority in this case. A total of one million gold DM coins were minted (200,000 at each of the five mints) and were sold beginning in mid-2001 through German coin dealers on behalf of the Bundesbank. The issue price varied by dealer but averaged approximately $165 in U.S. dollars. |
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[[File:Deutsche Mark(Gold-2001).jpg|thumb|Obverse view of the 2001 special gold issue of the DM1 coin]] |
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German coins bear a mint mark, indicating where the coin was minted. D indicates Munich, F Stuttgart, G Karlsruhe and J Hamburg. Coins minted during WW2 include the mint marks A (Berlin) and B (Vienna). The mint mark A was also used for DM coins minted in Berlin beginning in 1990 following the reunification of Germany. These mint marks have been continued on the German [[Euro]] coins. |
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On 27 December 2000, the German government enacted a law authorizing the {{lang|de|Bundesbank|italic=no}} to issue, in 2001, a special .999 pure gold DM 1 coin commemorating the end of the German mark. The coin had the exact design and dimensions of the circulating cupro-nickel DM 1 coin, with the exception of the inscription on the reverse, which read {{lang|de|Deutsche Bundesbank}} (instead of {{lang|de|Bundesrepublik Deutschland}}), as the {{lang|de|Bundesbank|italic=no}} was the issuing authority in this case. A total of one million gold DM 1 coins were minted (200,000 at each of the five mints) and were sold beginning in mid-2001 through German coin dealers on behalf of the {{lang|de|Bundesbank|italic=no}}. The issue price varied by the dealer but averaged approximately US$165. |
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German coins bear a mint mark, indicating where the coin was minted. D indicates Munich, F Stuttgart, G Karlsruhe and J Hamburg. Coins minted during the [[World War II|Second World War]] include the mint marks A (Berlin) and B (Vienna). The mint mark A was also used for German mark coins minted in Berlin beginning in 1990 following the reunification of Germany. These mint marks have been continued on the [[German euro coins]]. |
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===Colloquial expression=== |
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In colloquial German the 10 Pfennig coin was sometimes called a ''[[Groschen]]''. Likewhise, ''Sechser'' (sixer) could refer to a coin of 5 Pfennig. Both colloquialisms refer to several pre-1871 currencies of the previously independent [[Länder]] (notably [[Prussia]]), where a Groschen was subdivided into 12 Pfennnigs, hence half a Groschen into 6. After 1871, 12 Pfennigs of old currency would be converted into 10 Pfennig of the Mark, hence 10 Pfennig coins inherited the "Groschen" name and 5 Pfennig coins inherited the "Sechser" name. Both usages are only regional and may not be understood in areas where a Groschen coin did not exist pre-1871. Especially the usage of "Sechser" is less widely spread. |
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Between 1 July 1990 (the [[Deutsche Mark#The DM's role in German reunification|currency union with East Germany]]) and 1 July 1991, East German coins in denominations up to 50 {{lang|de|pfennig|italic=no}}s continued to circulate as Deutsche Mark coins at their face value, owing to a temporary shortage of small coins. These coins were legal tender only in the territory of the former East Germany. |
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===Colloquial expressions=== |
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In colloquial German the 10pf coin was sometimes called a {{lang|de|[[groschen]]}} (compare: [[groat (coin)|groat]]). Likewise, {{lang|de|sechser}} ('sixer') could refer to a coin of 5pf. Both colloquialisms refer to several pre-1871 currencies of the previously independent [[states of Germany|states]] (notably [[Prussia]]), where a {{lang|de|groschen|italic=no}} was subdivided into 12 {{lang|de|pfennig|italic=no}}s, hence half a {{lang|de|groschen|italic=no}} into 6. After 1871, 12 old {{lang|de|pfennig|italic=no}}s would be converted into 10pf of the mark, hence 10pf coins inherited the {{lang|de|groschen}} name and 5pf coins inherited the {{lang|de|sechser}} name. Both usages are only regional and may not be understood in areas where a {{lang|de|groschen|italic=no}} coin did not exist before 1871. In particular, the usage of {{lang|de|sechser}} is less widespread. In northern Germany the DM 5 coin used to be also called a {{lang|de|[[Heiermann]]}}, whereas in [[Bavaria]] the DM 2 coin was called {{lang|de|Zwickl}} and this expression is now used for the €2 coin in the region. |
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==Banknotes== |
==Banknotes== |
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[[File:FRG-2a-Allied West Germany-1 Deutsche Mark (1948).jpg|thumb|One Deutsche Mark (1948), first series, [[Allied-occupied Germany|Allied military issue]]]] |
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There were four series of DM banknotes: |
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There were four series of German mark banknotes: |
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* The first was issued in 1948 by the Allied military. There were denominations of ½, 1, 2, 5, 10, 20, 50 and 100 DM, with two designs of 20 and 50 DM notes. |
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* The first was issued in 1948 by the Allied military. There were denominations of DM{{frac|1|2}}, DM 1, DM 2, DM 5, DM 10, DM 20, DM 50 and DM 100, with two designs of DM 20 and DM 50. |
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* The second series was introduced in 1948 by the ''Bank deutscher Länder'', an institution of the western occupation government. The designs were similar to the [[US Dollar]] and [[French franc]], as the job of designing and printing the different denominations was shared between the [[Bank of France]] and the American Bank Note Company. There were denominations of 5 and 10 Pfennig, 5, 10, 20, 50 and 100 DM. |
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* The second series (BdL) was introduced in 1948 by the ''Bank deutscher Länder'', an institution of the western occupation government. The designs were similar to the [[US Dollar]] and [[French franc]], as the job of designing and printing the different denominations was shared between the [[Bank of France]] and the American Bank Note Company. There were denominations of 5pf and 10pf, DM 5, DM 10, DM 20, DM 50 and DM 100 marks. The last of the banknotes (DM 5 and DM 10) were phased out by 31 July 1966. |
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* The third series was introduced in 1960 by the [[Bundesbank]], depicting neutral symbols and famous paintings and buildings. There were 5, 10, 20, 50, 100, 500 and 1000 DM denominations. |
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* The third series (I/Ia BBk) was introduced in 1960 by the [[Bundesbank]], depicting neutral symbols, paintings by the German painters, and buildings. There were denominations of DM 5, DM 10, DM 20, DM 50, DM 100, DM 500 and DM 1,000. The series ceased to be legal tender on 30 June 1995. |
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* The fourth was introduced in 1990 by the Bundesbank to counter advances in [[forgery]] technology. The notes depicted German artists and scientists together with symbols and tools of their trade. This series added a 200 DM denomination, to decrease the use of 100 DM banknotes, which made up 54% of all circulating banknotes, and to fill the gap between the 100 DM and 500 DM denomination. Nevertheless the 200 DM denomination was rather rare. |
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* The fourth (BBk III/III a) was introduced in 1990 by the Bundesbank to counter advances in [[forgery]] technology. The notes depicted German artists and scientists together with symbols and tools of their trade. This series added a DM200 denomination, to decrease the use of DM 100 banknotes, which made up 54% of all circulating banknotes, and to fill the gap between the DM 100 and DM 500 denominations. In 1997–1998, new versions of DM 50, DM 100 and DM 200 were issued with improved security elements. |
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The notes with a value greater than DM 200 were rarely seen. A reserve series (BBk II) was commissioned on 1 July 1960, consisting of DM 10, DM 20, DM 50 and DM 100 banknotes. 670 million BBk II banknotes in value of 25 billion marks were printed. The notes were printed between 1963 and 1974 in fear if the Eastern Bloc would start systematically counterfeiting the BBk I series of banknotes to cripple the economy, then they would quickly be replaced by emergency notes. Another reserve series for West Berlin (BBk IIa) was commissioned on 1 July 1963, consisting of DM 5, DM 10, DM 20, DM 50 and DM 100 banknotes. 115 million West Berlin banknotes were printed, total value 4 billion marks. 15 billion marks worth of the banknotes were held in Bundesbank's custom-built [[Bundesbank bunker|underground bunker]] in [[Cochem]] in [[Rheinland-Pfalz]], the rest was stored in Bundesbank's vault in [[Frankfurt]]. |
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In the latter two series, the 5 DM denomination was rarely seen, as were the ones with a value greater than 100 DM. |
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===Banknotes of the |
===Banknotes of the third series (BBk I/Ia)=== |
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In 1957, with [[Bank deutscher Länder]] and the states' central banks merging to form the Bundesbank, new banknotes were being designed, as "Bank deutscher Länder" on the previous series was no longer correct. The previous series' notes had been made out of less durable paper and had a rather short life. While previously damaged notes could be replaced from reserve stocks, this stock was also coming to an end, necessitating a reprint. |
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[[Image:1993-DM-10.jpg|frame|A 10 Deutsche Mark [[banknote]] from Germany 1993 showing [[Carl Friedrich Gauß]] ([http://www.germannotes.com http://www.germannotes.com])]] |
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[[File:Warnhinweis auf einer 1000 DM-Banknote (Serie 3).jpg|thumb|The penalty for counterfeiting and forgery of banknotes (imprisonment at least two years) appeared on the upper right corner of the reverse of all third series banknotes. Note this is the post-1970 variant, featuring "Freiheitsstrafe" instead of "Zuchthaus".]] |
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Typical security features at the time were guilloches, a multi-level head watermark and a security thread. Note numbers that fluoresced under UV light and green, yellow, and blue. 27 fluorescent fibers embedded in the paper appeared on most banknotes; however, some specimens without these features were in circulation. Starting in 1976, banknotes were equipped with machine-readable feature - a colorless inorganic oxide mixture applied to the security thread. Banknotes featuring that were designated BBk Ia within the Bundesbank. All banknotes of the third series bore the penalty for counterfeiting and forgery on the upper right corner of the reverse, from [[Strafgesetzbuch|German penal code]] section 146: "''Wer Banknoten nachmacht oder verfälscht, oder nachgemachte oder verfälschte sich verschafft und in Verkehr bringt, wird mit Zuchthaus/Freiheitsstrafe nicht unter zwei Jahren bestraft.''" ("Who falsifies or counterfeits banknotes, or procures falsified or counterfeit banknotes and releases them into circulation, is liable to imprisonment for at least two years". |
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The third series banknotes entered circulation on 10 February 1961, with the DM 20 note. DM 100 and DM 50 followed next year, and DM 5 and DM 10 in 1963. High-denomination DM 1000 and DM 500 followed in 1964 and 1965, respectively. |
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The design of German banknotes remained unchanged during the 1960s, '70s and '80s. During this period, forgery technology made significant advances so, in the late 1980s, the Bundesbank decided to issue a new series of Deutsche Mark banknotes. The colours for each denomination remained unchanged from the previous series but the designs underwent significant changes and a 200 DM denomination was introduced. Famous national artists and scientists were chosen to be portrayed on the new banknotes. Male and female artists were chosen in equal numbers. The buildings in the background of the notes' obverses had a close relationship to the person displayed (e.g., place of birth, place of death, place of work), as well as the second background picture (Lyra and the musician Schumann). The reverses of the notes refer to the work of the person on the obverse. |
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The banknotes were printed exclusively in West Germany; in [[Bundesdruckerei]] in [[West Berlin]] and in [[Giesecke+Devrient]] in [[Munich]]. The third series banknotes ceased to be legal tender on 30 June 1995, when the fourth series notes had been in circulation for 3–5 years. There were a total of five issues of the third series, main differences being the dates, and signatures of the Presidents and Vice Presidents of Bundesbank:<ref>{{Cite web|last=Zeitung|first=Süddeutsche|title=DM-Mark-Scheine mit Sammlerwert|url=https://www.sueddeutsche.de/wirtschaft/euro-und-banknoten-dm-mark-scheine-mit-sammlerwert-1.502264|access-date=2021-09-23|website=Süddeutsche.de|date=17 May 2010 |language=de}}</ref><ref>{{Cite web|title=GERMANY F.R.|url=http://banknote.ws/COLLECTION/countries/EUR/GFR/GFR.htm#DEUTSCHE%20BUNDESBANK|access-date=2021-09-23|website=banknote.ws}}</ref> |
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The new security features were: a windowed security-thread (with the notes denomination in microprinting), watermark, micro-printing, [[Intaglio (printmaking)|intaglio-printing]] (viewing-angle dependent visibility as well as a [[braille]] representation of the notes denomination), colour-shifting ink (on the 500 and 1000 DM denominations), a see-through register and UV-visible security features. |
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{| class="wikitable" |
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|+ |
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!Issue |
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!Date |
|||
!President |
|||
!Vice President |
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!Notable other changes |
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|- |
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|1 |
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|2 January 1960 |
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|[[Karl Blessing]] |
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|[[Heinrich Troeger]] |
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| |
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|- |
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|2 |
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|2 January 1970 |
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|[[Karl Klasen]] |
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|[[Otmar Emminger]] |
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|"Zuchthaus" has been replaced with "Freiheitsstrafe" following 1969 Great Penal Code Reform |
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|- |
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|3 |
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|1 June 1977 |
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|[[Otmar Emminger]] |
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|[[Karl Otto Pöhl]] |
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|Machine-readable "M" feature, now designated BBk Ia |
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|- |
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|4 |
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|2 January 1980 |
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|[[Karl Otto Pöhl]] |
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|[[Helmut Schlesinger]] |
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| |
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|- |
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|5 |
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|2 January 1980 |
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|[[Karl Otto Pöhl]] |
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|[[Helmut Schlesinger]] |
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|"Deutsche Bundesbank" copyright notice with year of the denomination's first issue added on the bottom of the reverse |
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|} |
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{| class="wikitable" |
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|+1960 series<ref>{{Cite web|date=January 1986|title=Kursfähige Bundesbanknoten|url=https://www.bundesbank.de/resource/blob/599692/abdfa7bdfea472f8985c0c2ca06076cd/mL/banknoten-ausgabe-1-data.pdf|url-status=live|website=[[Deutsche Bundesbank]]|archive-url=https://web.archive.org/web/20190809224420/https://www.bundesbank.de/resource/blob/599692/abdfa7bdfea472f8985c0c2ca06076cd/mL/banknoten-ausgabe-1-data.pdf |archive-date=2019-08-09 }}</ref> |
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|- |
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! colspan="2" | Image !! rowspan="2" | Dimensions |
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! rowspan="2" |Paper color!! rowspan="2" | Main color !! colspan="2" | Description |
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! colspan="2" |Date of |
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|- |
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! Obverse !! Reverse !! Obverse !! Reverse !! Issue !! Withdrawal |
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|- |
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| style="text-align:center" | |
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| style="text-align:center" | |
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| 120×60 mm |
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|Green |
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| Green |
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|''[[Portrait of a Venetian Woman]]'' by [[Albrecht Dürer]] (1505) |
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|A branch with oak leaves and acorns symbolizes ''German nature'' |
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| 6/5/1963 |
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| 30/6/1995 |
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|- |
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| style="text-align:center" |[[File:Banknote mit dem Nominalwert 10 Deutsche Mark (Serie 1961), Wertseite, ausgegeben 1980.jpg|frameless]] |
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| style="text-align:center" | |
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| 130×65 mm |
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|Blue |
|||
| Blue |
|||
|''Beardless Young Man'' by [[Lucas Cranach the Elder]] (1500) |
|||
|[[German training ship Gorch Fock (1958)|Training ship Gorch Fock]] symbolizes ''German cosmopolitanism'' |
|||
| 21/10/1963 |
|||
|30/6/1995 |
|||
|- |
|||
| style="text-align:center" | |
|||
| style="text-align:center" | |
|||
| 140×70 mm |
|||
|Green |
|||
| Green |
|||
|''Portrait of Elsbeth Tucher, née Pusch'' by [[Albrecht Dürer]] (1499) |
|||
| A [[violin]] and a [[clarinet]] symbolizes ''the world of German music'' |
|||
| 10/2/1961 |
|||
|30/6/1995 |
|||
|- |
|||
| style="text-align:center" |[[File:50 DM Serie3 Vorderseite aligned cropped.jpg|alt=|220x220px]] |
|||
| style="text-align:center" | |
|||
| 150×75 mm |
|||
|Yellow |
|||
| Brown |
|||
|Portrait of Hans Urmiller from ''Portrait of Hans Urmiller and his Son'' by [[Barthel Beham]] (1525) |
|||
| [[Holstentor]] in [[Lübeck]] symbolizes ''German civic pride'' |
|||
| 18/6/1962 |
|||
|30/6/1995 |
|||
|- |
|||
| style="text-align:center" | |
|||
| style="text-align:center" | |
|||
| 160×80 mm |
|||
|Blue |
|||
| Blue |
|||
|''Cosmograph [[Sebastian Münster]]'' by [[Christoph Amberger]] (1552) |
|||
| An [[eagle]] with stretched-out wings ([[Coat of arms of Germany|Federal Eagle]]) symbolizes ''German state awareness'' |
|||
| 26/2/1962 |
|||
|30/6/1995 |
|||
|- |
|||
| style="text-align:center" | |
|||
| style="text-align:center" | |
|||
| 170×85 mm |
|||
|Yellow |
|||
| Red |
|||
|''Portrait of a beardless man'' by [[Hans Maler zu Schwaz]] (1521) |
|||
|[[Burg Eltz]] in [[Rhineland-Palatinate]] symbolizes ''German chivalry'' |
|||
| 26/4/1965 |
|||
|30/6/1995 |
|||
|- |
|||
| style="text-align:center" | |
|||
| style="text-align:center" | |
|||
| 180×90 mm |
|||
|Yellow |
|||
| Brown |
|||
|''Portrait of Dr. Johannes Scheyring'' by [[Lucas Cranach the Elder]] (1529) |
|||
| [[Limburg Cathedral]] symbolizes ''[[Romanesque architecture]] in Germany'' |
|||
|27/7/1964 |
|||
|30/6/1995 |
|||
|- |
|||
| colspan="9" |{{Standard banknote table notice|BrE=Y}} |
|||
|} |
|||
===Banknotes of the fourth series=== |
|||
First to be issued were the 100 and 200 DM denominations on 1 October 1990 (although the banknote shows "[[Frankfurt|Frankfurt am Main]], 2. Januar 1989"). The next denomination was 10 DM on 16 April 1991, followed by 50 DM in autumn the same year. Next was the 20 DM note on 20 March 1992 (printed on 2 August 1991). The reason for this gradual introduction was, that public should become familiar with one single denomination, before introducing a new one. The change was finished with the introduction of the 5, 500, and 1000 DM denominations on 27 October 1992. The latter three denominations were rarely seen in circulation and were introduced in one step. With the advance of forgery technology, the Bundesbank decided to introduce additional security features on the most important denominations (50, 100, and 200 DM) as of 1996. These were a hologram foil in the center of the note's obverse, a matted printing on the note's right obverse, showing its denomination (like on the reverse of the new €5, €10, and €20 [[Euro banknotes|banknotes]]), and the [[EURion constellation]] on the note's reverse. Furthermore, the colors were changed a bit to pastel to hamper counterfeiting. |
|||
The design of German banknotes remained unchanged during the 1960s, 1970s and 1980s. During this period, forgery technology made significant advances and so, in the late 1980s, the Bundesbank decided to issue a new series of Deutsche Mark banknotes. The colours for each denomination remained unchanged from the previous series but the designs underwent significant changes and a DM 200 denomination was introduced. Famous national artists and scientists were chosen to be portrayed on the new banknotes. Male and female artists were chosen in equal numbers. The buildings in the background of the notes' obverses had a close relationship to the person displayed (e.g., place of birth, place of death, place of work), as well as the second background picture (Lyra and the musician Schumann). The reverses of the notes refer to the work of the person on the obverse. |
|||
The new security features were: a windowed security thread (with the notes' denominations in microprinting), watermarks, microprinting, [[Intaglio (printmaking)|intaglio printing]] (viewing-angle dependent visibility as well as a [[Braille]] representation of the notes denomination), colour-shifting ink (on the DM 500 and DM 1000 denominations), a see-through registration device and ultraviolet-visible security features. |
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{|class="wikitable" style="font-size: 90%" |
|||
!colspan="13"|1989 Series [http://www.bundesbank.de/bargeld/bargeld_faq_dmbanknotenabbildungen.php] |
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First to be issued were the DM 100 and DM 200 denominations on 1 October 1990 (although the banknote shows "[[Frankfurt|Frankfurt am Main]], 2. Januar 1989"). The next denomination was DM 10 on 16 April 1991, followed by DM 50 on 30 September 1991.<ref>{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Federal Republic of Germany | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = http://www.banknotebook.com | url-status = live | archive-url = https://web.archive.org/web/20120829063428/http://www.banknotebook.com/ | archive-date = 2012-08-29 }}</ref> Next was the DM 20 note on 20 March 1992 (printed on 2 August 1991). The reason for this gradual introduction was, that public should become familiar with one single denomination, before introducing a new one. The change was finished with the introduction of the DM 5, DM 500, and DM 1000 denominations on 27 October 1992. The DM 500, and DM 1000 denominations were rarely seen in circulation due to value and all were introduced in one step. With the advance of forgery technology, the Bundesbank decided to introduce additional security features on the most important denominations (DM 50, DM 100 and DM 200) as of 1996. These were a hologram foil in the center of the note's obverse, a matted printing on the note's right obverse, showing its denomination (like on the reverse of the new [[euro banknotes]]), and the [[EURion constellation]] on the note's reverse. Furthermore, the colours were changed slightly to hamper counterfeiting. |
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{|class="wikitable" |
|||
|+1989 series<ref>[http://www.bundesbank.de/Redaktion/EN/Bilderstrecken/dm_banknoten_der_serie_bbk_3.html] {{Webarchive|url=https://web.archive.org/web/20140714145313/http://www.bundesbank.de/Redaktion/EN/Bilderstrecken/dm_banknoten_der_serie_bbk_3.html|date=14 July 2014}}</ref> |
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|- |
|- |
||
!colspan="2"| Image !!rowspan="2"| |
!colspan="2"| Image !! rowspan="2" | Dimensions !! rowspan="2" | Value in Euros (€) !! rowspan="2" | Main color !! colspan="3" | Description !! colspan="3" | Date of |
||
|- |
|- |
||
! Obverse !! Reverse !! Obverse !! Reverse !! |
! Obverse !! Reverse !! Obverse !! Reverse !! First Printing !! Issue !! Withdrawal |
||
|- |
|- |
||
| |
| style="text-align:center" |[[File:5 Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:5 Mark (Reverse).jpg|200px]] |
||
| 122×62 mm |
|||
| 5 DM |
|||
| |
| €2.56 |
||
| Green |
|||
| 122 × 62 mm |
|||
|[[Bettina von Arnim]], historical buildings of [[Berlin]] |
|||
| Yellowish-green |
|||
|[[Brandenburg Gate]] |
|||
| [[Bettina von Arnim]], Wiepersdorf estate and buildings of historic Berlin |
|||
| 1/8/1991 |
|||
| [[Brandenburg Gate]] |
|||
| 27/10/1992 |
|||
|rowspan="8"| As portrait |
|||
| 31/12/2001 |
|||
| 1 August 1991 |
|||
| 27 October 1992 |
|||
|rowspan="8"| 31 December 2001 |
|||
|rowspan="8"| Indefinite |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:10 Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:10 Mark (R).jpg|200px]] |
||
| 130×65 mm |
|||
| 10 DM |
|||
| |
| €5.11 |
||
| Purple |
|||
| 130 × 65 mm |
|||
|[[Carl Friedrich Gauss]], historical buildings of [[Göttingen]] |
|||
| Blue-violet |
|||
|[[Sextant]] |
|||
| [[Carl Friedrich Gauss]], [[Gaussian distribution]], historic buildings of [[Göttingen]] |
|||
| 2/1/1989 |
|||
| [[Sextant]], a small map showing the [[triangulation]] of the [[Kingdom of Hanover]] performed by Gauss |
|||
| 16/4/1991 |
|||
| 2 January 1989 |
|||
|31/12/2001 |
|||
| 16 April 1991 |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:20 Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:20 Mark (R).jpg|200px]] |
||
| 138×68 mm |
|||
| 20 DM |
|||
| |
| €10.23 |
||
| Aqua |
|||
| 138 × 68 mm |
|||
|[[Annette von Droste-Hülshoff]], historical buildings of [[Meersburg]] |
|||
| Blueish-green |
|||
| A [[quill]] pen and a [[Fagus sylvatica|European beech]] tree |
|||
| [[Annette von Droste-Hülshoff]], buildings of the city of [[Meersburg]] |
|||
| 1/8/1991 |
|||
| A [[quill]] pen and a beech-tree, referring to her work ''[[Die Judenbuche]]'' |
|||
| 20/3/1992 |
|||
| 1 August 1991 |
|||
|31/12/2001 |
|||
| 20 March 1992 |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:50 Deutsche Mark (Obverse).jpg|alt=|200x200px]] |
||
| |
| style="text-align:center" |[[File:50 Deutsche Mark (Reverse).jpg|alt=|200x200px]] |
||
| 146×71 mm |
|||
| 50 DM |
|||
| |
| €25.56 |
||
| Olive Green |
|||
| 146 × 71 mm |
|||
|[[Balthasar Neumann]], historical buildings of [[Würzburg]] |
|||
| Yellowish-brown |
|||
| |
| Partial view of the [[Würzburg Residence]] |
||
| 2/1/1989 |
|||
| Partial view of the stairway in the [[Würzburg Residence]], the ground plan of a famous chapel, ''Kreuzkapelle,'' in [[Kitzingen]] |
|||
| 30/9/1991 |
|||
|rowspan="3"| 2 January 1989 |
|||
|31/12/2001 |
|||
| 30 September 1991 {{Fact|date=August 2007}} |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:100 Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:100 Mark (R).jpg|200px]] |
||
| 154×74 mm |
|||
| 100 DM |
|||
| |
| €51.13 |
||
| Blue |
|||
| 154 × 74 mm |
|||
|[[Clara Schumann]], historical buildings of [[Leipzig]] |
|||
| Dark blue |
|||
| [[Piano|Grand Piano]] |
|||
| [[Clara Schumann]] from a lithograph by [[Andreas Staub]], buildings of historic [[Leipzig]] and a [[lyre]] |
|||
|2/1/1989 |
|||
| Grand piano, Background: the pre-war building of the [[Hoch Conservatory]] in [[Frankfurt am Main]] |
|||
| 1/10/1990 |
|||
|rowspan="2"| 1 October 1990 {{Fact|date=August 2007}} |
|||
|31/12/2001 |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:200 Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:200_Mark (Reverse).jpg|200px]] |
||
| 162×77 mm |
|||
| 200 DM |
|||
| |
| €102.26 |
||
| 162 × 77 mm |
|||
| Orange |
| Orange |
||
| [[Paul Ehrlich]], buildings of |
| [[Paul Ehrlich]], historical buildings of [[Frankfurt am Main]] |
||
| [[Microscope]] |
|||
| [[Microscope]], the [[Rod of Asclepius]] surrounded by simplified cell structures |
|||
|2/1/1989 |
|||
|1/10/1990 |
|||
|31/12/2001 |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:500 Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:500 Mark (Reverse).jpg|200px]] |
||
| 170×80 mm |
|||
| 500 DM |
|||
| |
| €255.65 |
||
| |
| Red |
||
|[[Maria Sibylla Merian]], historical buildings of [[Nuremberg]] |
|||
| Red-violet |
|||
|[[Dandelion]], [[Geometer moth|Inchworm]], [[Butterfly]] |
|||
| [[Anna Maria Sibylla Merian]], an insect, buildings of ancient [[Nuremberg]] |
|||
| 1/8/1991 |
|||
| [[Dandelion]], [[inchworm]], [[butterfly]] |
|||
| 27/10/1992 |
|||
|rowspan="2"| 1 August 1991 |
|||
|31/12/2001 |
|||
|rowspan="2"| 27 October 1992 |
|||
|- |
|- |
||
| |
| style="text-align:center" |[[File:1000 Deutsche Mark (Obverse).jpg|200px]] |
||
| |
| style="text-align:center" |[[File:1000 Mark (Reverse).jpg|200px]] |
||
| 178×83 mm |
|||
| 1000 DM |
|||
| |
| €511.29 |
||
| Brown |
|||
| 178 × 83 mm |
|||
|[[Wilhelm Grimm|Wilhelm]] and [[Jacob Grimm|Jacob]] [[Brothers Grimm|Grimm]], historical buildings of [[Kassel]] |
|||
| Dark-brown |
|||
| The 'German Dictionary', [[Alte Bibliothek]] in Berlin |
|||
| [[Wilhelm Grimm|Wilhelm]] and [[Jakob Grimm|Jakob]] [[Brothers Grimm|Grimm]], buildings of historic [[Kassel]] |
|||
|1/8/1991 |
|||
| The 'German dictionary' (''Deutsches Wörterbuch''), the Royal library in Berlin |
|||
|27/10/1992 |
|||
|31/12/2001 |
|||
|- |
|- |
||
!colspan=" |
! colspan="10" | Hologram variant |
||
|- |
|- |
||
| style="text-align:center" | [[File:50 DM 1996.jpg|200px]] |
|||
|align="center" bgcolor="#000000"| <!-- Unsourced image removed: [[Image:50-DEM-OBV-146x71.jpg|102px|50 Deutsche Mark, Obverse]] --> |
|||
| style="text-align:center" | |
|||
|align="center" bgcolor="#000000"| <!-- Unsourced image removed: [[Image:50-DEM-REV-146x71.jpg|102px|50 Deutsche Mark, Reverse]] --> |
|||
| colspan="5" rowspan="3" align="center" | As previous |
|||
| 50 DM |
|||
| 2/1/1996 |
|||
| 25.56 |
|||
| 2/2/1998 |
|||
|rowspan="3" colspan="5"| As previous |
|||
| 31/12/2001 |
|||
|rowspan="3"| 2 January 1996 |
|||
| 2 February 1998 |
|||
|rowspan="3"| 31 December 2001 |
|||
|rowspan="3"| Indefinite |
|||
|- |
|- |
||
| style="text-align:center" | |
|||
|align="center" bgcolor="#000000"| <!-- Unsourced image removed: [[Image:100-DEM-OBV-154x74.jpg|108px|100 Deutsche Mark, Obverse]] --> |
|||
| style="text-align:center" | |
|||
|align="center" bgcolor="#000000"| <!-- Unsourced image removed: [[Image:100-DEM-REV-154x74.jpg|108px|100 Deutsche Mark, Reverse]] --> |
|||
|2/1/1996 |
|||
| 100 DM |
|||
| 1/8/1997 |
|||
| 51.13 |
|||
|31/12/2001 |
|||
|rowspan="2"| 1 August 1997 |
|||
|- |
|- |
||
| style="text-align:center" | |
|||
|align="center" bgcolor="#000000"| <!-- Unsourced image removed: [[Image:200-DEM-OBV-162x67.jpg|113px|200 Deutsche Mark, Obverse]] --> |
|||
| style="text-align:center" | |
|||
|align="center" bgcolor="#000000"| <!-- Unsourced image removed: [[Image:200-DEM-REV-162x67.jpg|113px|200 Deutsche Mark, Reverse]] --> |
|||
|2/1/1996 |
|||
| 200 DM |
|||
|1/8/1997 |
|||
| 102.26 |
|||
|31/12/2001 |
|||
|- |
|- |
||
|colspan=" |
| colspan="10" |{{Standard banknote table notice|BrE=Y}} |
||
|} |
|} |
||
== |
==Spelling and pronunciation== |
||
The German name of the currency is |
The German name of the currency is ''Deutsche Mark'' ({{abbr|[[grammatical gender|fem.]]|feminine}}, {{IPA|de|ˈdɔʏtʃə ˈmaʁk}}); its plural form in [[standard German]] is the same as the singular. In German, the adjective "deutsche" (adjective for "German" in [[grammatical gender|feminine]] [[grammatical number|singular]] [[nominative]] form) is capitalized because it is part of a proper name, while the noun "Mark", like all German nouns, is always capitalized. The English [[loanword]] "Deutschmark" has a slightly different spelling and one syllable fewer (possibly due to the frequency of [[silent e]] in English, or due to English's lack of adjectival endings), and a plural form in ''-s''. |
||
In Germany and other German speaking countries, the currency's name was often abbreviated as ''D-Mark'' ({{abbr|[[grammatical gender|fem.]]|feminine}}, {{IPA|de|ˈdeːmaʁk|}}) or simply ''Mark'' ({{abbr|[[grammatical gender|fem.]]|feminine}}) with the latter term also often used in English. Like ''Deutsche Mark'', ''D-Mark'' and ''Mark'' do not take the plural in German when used with numbers (like all names of units), the singular being used to refer to any amount of money (e.g. ''eine (one) Mark'' and ''dreißig (thirty) Mark''). Sometimes, a very colloquial plural form of ''Mark'', ''Märker'' {{IPA|de|ˈmɛʁkɐ|}} was used either as [[hypocoristic]] form or to refer to a small number of D-Mark coins or bills, e.g. ''Gib mir mal ein paar Märker'' ("Just give me a few marks") and ''Die lieben Märker wieder'' ("The lovely money again", with an [[Irony|ironic]] undertone). |
|||
The subdivision unit is spelled '''''Pfennig''''' ([[grammatical gender|masc.]]) {{IPA2|ˈpfɛnɪç}} , which (unlike ''Mark'') does have a commonly used plural form: '''Pfennige''' {{IPA2|ˈpfɛnɪgə}}, but the singular could also be used instead with no difference in meaning. (e.g.: ''ein (one) Pfennig'', ''dreißig (thirty) Pfennige'' or ''dreißig (thirty) Pfennig''). The official form is singular. |
|||
The subdivision unit is spelled ''Pfennig'' ({{abbr|[[grammatical gender|masc.]]|masculine}}; {{IPA|de|ˈpfɛnɪç|}}), which unlike ''Mark'' does have a commonly used plural form: ''Pfennige'' ({{IPA|[ˈpfɛnɪɡə]}}), but the singular could also be used instead with no difference in meaning. (e.g.: ''ein (one) Pfennig'', ''dreißig (thirty) Pfennige'' or ''dreißig (thirty) Pfennig''). The official form is singular. |
|||
== The mark as a major international reserve currency == |
|||
==Reserve currency== |
|||
{{main|Reserve currency}} |
{{main|Reserve currency}} |
||
Before the switch to the euro, the |
Before the switch to the euro, the Deutsche Mark was the largest international reserve currency after the [[United States dollar]]. |
||
{{Reserve currencies}} |
|||
{{Reserve currencies plot}} |
|||
== See also == |
|||
* [[Euro]] |
|||
==See also== |
|||
* [[Economy of Germany]] |
|||
* [[German adoption of the euro]] |
|||
* [[German euro coins]] |
* [[German euro coins]] |
||
* [[List of commemorative coins of the Federal Republic of Germany]] |
|||
* [[German papiermark|German Papiermark]] and [[Notgeld]] |
* [[German papiermark|German Papiermark]] and [[Notgeld]] |
||
* [[ |
* [[Reichsmark|German Reichsmark]] |
||
* [[ |
* [[List of commemorative coins of the Federal Republic of Germany]] |
||
== |
==References== |
||
{{Reflist}} |
{{Reflist|30em}} |
||
== External links == |
== External links == |
||
{{Commons category|Deutsche Mark}} |
|||
* [http://www.luckylukeonline.com/ Coins of the Third Reich] |
* [http://www.luckylukeonline.com/ Coins of the Third Reich] |
||
* [http://news.bbc.co.uk/hi/english/enwiki/static/in_depth/business/2001/euro_cash/spent_currencies/mark.stm Overview of German Mark from BBC online] |
|||
* [http://www.germannotes.com/ German historical Banknotes and Old Paper Money from Germany] |
|||
* [http://www.history.ucsb.edu/faculty/marcuse/projects/currency.htm Historical US Dollars to German Marks currency conversion, 1913–2005] |
|||
* [http://www.bis-ans-ende-der-welt.net/Deutschland-B-En.htm Historical banknotes of Germany] including [http://www.bis-ans-ende-der-welt.net/DDR-B-En.htm East German banknotes] |
|||
*[http://news.bbc.co.uk/hi/english/enwiki/static/in_depth/business/2001/euro_cash/spent_currencies/mark.stm Overview of German Mark from BBC online] |
|||
*[http://www.history.ucsb.edu/faculty/marcuse/projects/currency.htm Historical US Dollars to German Marks currency conversion, 1913-2005] |
|||
*[http://www.coinsv.narod.ru/c_pages/germany/frg.htm Coins 2] |
|||
{{n-start}} |
{{n-start}} |
||
{{n-before|currency=[[German reichsmark|Reichsmark]], [[German rentenmark|Rentenmark]]|ratio=1 DM = 1 RM (either) below 600 RM |
{{n-before|currency=[[German reichsmark|Reichsmark]], [[German rentenmark|Rentenmark]], [[AM-Mark]]|ratio=1 DM = 1 RM (either) below 600 RM<br />1 DM = 10 RM above 600 RM<br />and each person received 40 DM|reason=intended to protect West Germany from the second wave of [[hyperinflation]] and stop the rampant barter and [[black market]] trade}} |
||
{{n-currency|location=West Germany|start=21 June 1948|end=1990}} |
{{n-currency|rowspan=2|location=West Germany (incl. West Berlin)|start=21 (24 W-Berlin) June 1948|end=30 June 1990|note=except of the state of the Saarland (1957–1959)}} |
||
{{n-currency|rowspan= |
{{n-currency|rowspan=3|location=Germany|start=1 July 1990|end=31 December 2001|note=[[euro]] existed as [[money of account]] since 1 January 1999, with DM coins and banknotes being the German appearance of the euro}} |
||
{{n-after|rowspan= |
{{n-after|rowspan=4|currency=[[Euro]]|ratio=1 euro = 1.95583 Deutsche Mark|reason=deployment of euro cash}} |
||
{{n-before|colspan= |
{{n-before|colspan=1|currency=[[French franc]] and [[Saar franc|Saar Franc]]|ratio=100 Francs = 0.8507 Deutsche Mark|reason=currency union (9 July 1959), after the [[Saarland]] had joined [[Federal Republic of Germany|West Germany]] (1 January 1957)}} |
||
{{n-before|colspan=2|currency=[[East German mark|Mark]] of the [[East Germany|GDR]]|ratio=at par up to 4000 GDR marks<br />2 GDR marks = 1 DM above 4000 GDR marks|reason=currency union (1 July 1990) preparing the [[German reunification]] (3 October 1990)}} |
|||
{{n-before|colspan=2|currency=[[Yugoslav dinar|Yugoslav new dinar]]|reason=political and economic reasons}} |
{{n-before|colspan=2|currency=[[Yugoslav dinar|Yugoslav new dinar]]|reason=political and economic reasons}} |
||
{{n-currency|location=[[ |
{{n-currency|location=[[Kosovo]], [[Republic of Montenegro (federal)|Montenegro]]|start=1999|end=31 December 2001}} |
||
{{ |
{{end}} |
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{{Mark}} |
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{{Currency signs}} |
{{Currency signs}} |
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{{Euro topics}} |
{{Euro topics}} |
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{{Currencies of Former Yugoslavia}} |
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{{Portal bar|Europe|Germany|Money|Numismatics}} |
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{{Authority control}} |
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{{DEFAULTSORT:Mark, Deutsche}} |
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{{DEFAULTSORT:Deutsche Mark}} |
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[[Category:Currencies of Germany]] |
[[Category:Currencies of Germany]] |
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[[Category: |
[[Category:Economy of West Germany]] |
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[[Category:Modern obsolete currencies]] |
[[Category:Modern obsolete currencies]] |
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[[Category:Currencies replaced by the euro]] |
[[Category:Currencies replaced by the euro]] |
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[[Category:Currencies of Europe]] |
[[Category:Currencies of Europe]] |
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[[Category:1948 establishments in Germany]] |
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[[Category:2002 disestablishments in Germany]] |
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[[als:Deutsche Mark]] |
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[[Category:Currencies introduced in 1948]] |
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[[bar:Margl]] |
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[[Category:Currency symbols]] |
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[[bg:Германска марка]] |
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[[ca:Marc alemany]] |
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[[cs:Německá marka]] |
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[[da:D-Mark]] |
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[[de:Deutsche Mark]] |
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[[et:Saksa mark]] |
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[[el:Γερμανικό Μάρκο]] |
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[[es:Marco alemán]] |
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[[eo:Germana marko]] |
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[[eu:Marko alemaniar]] |
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[[fa:مارک آلمان]] |
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[[fr:Deutsche Mark]] |
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[[ko:독일 마르크]] |
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[[hr:Njemačka marka]] |
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[[id:Deutsche Mark]] |
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[[it:Marco tedesco]] |
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[[he:מרק גרמני]] |
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[[hu:Német márka]] |
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[[mr:जर्मन मार्क]] |
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[[nl:Duitse mark]] |
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[[ja:ドイツマルク]] |
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[[no:Tysk mark]] |
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[[nn:Tysk mark]] |
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[[pl:Marka niemiecka]] |
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[[pt:Marco alemão]] |
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[[ro:Marcă germană]] |
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[[ru:Немецкая марка]] |
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[[sk:Nemecká marka]] |
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[[fi:Saksan markka]] |
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[[sv:D-mark]] |
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[[th:มาร์กเยอรมัน]] |
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[[vi:Mác Đức]] |
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[[tr:Alman Markı]] |
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[[uk:Німецька марка]] |
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[[zh:德國馬克]] |
Latest revision as of 14:04, 1 January 2025
D-Mark | |
---|---|
ISO 4217 | |
Code | DEM |
Unit | |
Unit | Mark |
Plural | Mark |
Symbol | DM |
Denominations | |
Subunit | |
1⁄100 | Pfennig |
Plural | |
Pfennig | Pfennig |
Symbol | |
Pfennig | pf |
Banknotes | |
Freq. used | DM5, DM10, DM20, DM50, DM100, DM200 |
Rarely used | DM500, DM1,000 |
Coins | |
Freq. used | 1pf, 2pf, 5pf, 10pf, 50pf, DM1, DM2, DM5 |
Demographics | |
Official user(s) | None, previously: List
|
Unofficial user(s) | List
|
Issuance | |
Central bank | Deutsche Bundesbank |
Website | www |
Printer | |
Website | |
Mint | List
|
Website | |
Valuation | |
Inflation | 1.4%, December 2001 |
Pegged by | Bosnia and Herzegovina convertible mark, Bulgarian lev at par |
EU Exchange Rate Mechanism (ERM) | |
Since | 13 March 1979 |
Fixed rate since | 31 December 1998 |
Replaced by euro, non cash | 1 January 1999 |
Replaced by euro, cash | 1 March 2002 |
1 € = | DM 1.95583 |
This infobox shows the latest status before this currency was rendered obsolete. |
The Deutsche Mark (German: [ˈdɔʏtʃə ˈmaʁk] ⓘ; "German mark"), abbreviated "DM" or "D-Mark" ([ˈdeːˌmaʁk] ⓘ), was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" (/ˈdɔɪtʃmɑːrk/ DOYTCH-mark). One Deutsche Mark was divided into 100 pfennigs.
It was first issued under Allied occupation in 1948 to replace the Reichsmark and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1.[3] In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other eurozone states, where the euro and legacy currency circulated side by side for up to two months. Mark coins and banknotes continued to be accepted as valid forms of payment in Germany until 1 March 2002.
The Deutsche Bundesbank has guaranteed that all German marks in cash form may be changed into euros indefinitely, and one may do so in person at any branch of the Bundesbank in Germany. Banknotes and coins can even be sent to the Bundesbank by mail.[4] In 2012, it was estimated that as many as 13.2 billion marks were in circulation, with one poll from 2011 showing a narrow majority of Germans favouring the currency's restoration (although only a minority believed this would bring any economic benefit).[5][6] Polls in the early 2020s indicated only a minority of Germans supported reintroduction of the Deutsche Mark.[7]
History
[edit]Before 1871
[edit]A mark had been the currency of Germany since its original unification in 1871. Before that time, the different German states issued a variety of different currencies, the most common being the North German thaler and the South German gulden. By 1857, both currencies were linked to the Vereinsthaler, a silver coin containing 16+2⁄3 grams of pure silver. Although the German gold mark was based on gold rather than silver (at 2.79 marks per gram of fine gold), a fixed exchange rate between the Vereinsthaler and the mark of 3 marks = 1 Vereinsthaler was used for the conversion.
1873–1948
[edit]The first mark, known as the Goldmark, was introduced in 1873. With the outbreak of World War I, the mark was taken off the gold standard. The currency thus became known as the Papiermark, especially as high inflation, then hyperinflation occurred and the currency became exclusively made up of paper money. The Papiermark was replaced by the Rentenmark (RM) from 15 November 1923, and the Reichsmark (ℛ︁ℳ︁) in 1924.
Early military occupation following WWII
[edit]During the first two years of occupation the occupying powers of France, United Kingdom, United States, and the Soviet Union were not able to successfully negotiate a possible currency reform in Germany. Due to the strains between the Allies each zone was governed independently as regards monetary matters. The US occupation policy was governed by the directive JCS 1067 (in effect until July 1947), which forbade the US military governor "to take any steps to strengthen German financial structure".[8] As a consequence a separate monetary reform in the U.S. zone was not possible.[8] Each of the Allies printed its own occupation currency.
Currency reform of June 1948
[edit]The Deutsche Mark was officially introduced on Sunday 20 June 1948 by Ludwig Erhard. Large amounts were exchanged for 10 ℛ︁ℳ︁ to 65pf. In addition, each person received a per capita allowance of DM 60 in two parts, the first being DM 40 and the second DM 20.[9]
A few weeks later Erhard, acting against orders, issued an edict abolishing many economic controls which had been originally implemented by the Nazis, and which the Allies had not removed. He did this, as he often confessed, on Sunday because the offices of the American, British, and French occupation authorities were closed that day. He was sure that if he had done it when they were open, they would have countermanded the order.[10]
The introduction of the new currency was intended to protect western Germany from a second wave of hyperinflation and to stop the rampant barter and black market trade (where cigarettes were used as currency). Although the new currency was initially only distributed in the three western occupation zones outside Berlin, the move angered the Soviet authorities, who regarded it as a threat. The Soviets promptly cut off all road, rail and canal links between the three western zones and West Berlin, starting the Berlin Blockade. In response, the U.S. and Britain launched an airlift of food and coal and distributed the new currency in West Berlin as well.
Economics of 1948 currency reform
[edit]Since the 1930s, prices and wages had been controlled, but money had been plentiful. That meant that people had accumulated large paper assets, and that official prices and wages did not reflect reality, as the black market dominated the economy and more than half of all transactions were taking place unofficially. The reform replaced the old money with the new Deutsche Mark at the rate of one new per ten old. This wiped out 90% of government and private debt, as well as private savings. Prices were decontrolled, and labor unions agreed to accept a 15% wage increase, despite the 25% rise in prices. The result was the prices of German export products held steady, while profits and earnings from exports soared and were poured back into the economy. The currency reforms were simultaneous with the $1.4 billion in Marshall Plan money coming in from the United States, which primarily was used for investment. In addition, the Marshall plan forced German companies, as well as those in all of Western Europe, to modernize their business practices, and take account of the wider market.
Marshall plan funding overcame bottlenecks in the surging economy caused by remaining controls (which were removed in 1949), and opened up a greatly expanded market for German exports. Overnight, consumer goods appeared in the stores, because they could be sold for higher prices.[11][12] While the availability of consumer goods is seen as a giant success story by most historians of the present, the perception at the time was a different one: prices were so high that average people could not afford to shop, especially since prices were free-ranging but wages still fixed by law. Therefore, in the summer of 1948 a giant wave of strikes and demonstrations swept over West Germany, leading to an incident in Stuttgart where strikers were met by US tanks ("Stuttgarter Vorfälle"). Only after the wage-freeze was abandoned, Deutschmark and free-ranging prices were accepted by the population.[13]
Currency reform in the Soviet occupation zone
[edit]In the Soviet occupation zone of Germany (later the German Democratic Republic), the East German mark (also named "Deutsche Mark" from 1948 to 1964 and colloquially referred to as the Ostmark—literally Eastmark) was introduced a few days afterwards in the form of Reichsmark and Rentenmark notes with adhesive stamps to stop the flooding in of Reichsmark and Rentenmark notes from the West. In July 1948, a completely new series of East German mark banknotes was issued.
Bank deutscher Länder and the Deutsche Bundesbank
[edit]Later in 1948, the Bank deutscher Länder ("Bank of the German States") assumed responsibility, followed in 1957 by the Deutsche Bundesbank. The Deutsche Mark earned a reputation as a strong store of value at times when other national currencies succumbed to periods of inflation.[citation needed] It became a source of national pride and an anchor for the country's economic prosperity,[citation needed] particularly during the years of the Wirtschaftswunder in the 1950s.
Currency union with the Saarland
[edit]The population in the Saar Protectorate rejected in a referendum the proposal to turn it into a "European territory". Despite French pre-referendum claims that a "no" vote would mean that the Saar would remain a French protectorate it in fact resulted in the incorporation of the Saar into the Federal Republic of Germany on 1 January 1957. The new German member state of the Saarland maintained its currency, the Saar franc, which was in a currency union at par with the French franc. On 9 July 1959 the Deutsche Mark replaced the Saar franc at a ratio of 100 francs = DM 0.8507.
German reunification
[edit]The Deutsche Mark played an important role in the reunification of Germany. It was introduced as the official currency of East Germany in July 1990, replacing the East German mark (Mark der DDR), in preparation for unification on 3 October 1990. East German marks were exchanged for Deutsche Marks at a rate of 1:1 for the first M 4,000 and 2:1 for larger amounts. Before reunification, each citizen of East Germany coming to West Germany was given Begrüßungsgeld (welcome money), a per capita allowance of DM 100 in cash. The government of Germany and the Bundesbank were in major disagreement over the exchange rate between the East German mark and the German mark.
France and the United Kingdom were opposed to German reunification, and attempted to influence the Soviet Union to stop it.[14] However, in late 1989 France extracted German commitment to the Monetary Union in return for support for German reunification.[15]
Stability
[edit]The German mark had a reputation as one of the world's most stable currencies; this was based on the monetary policy of the Bundesbank. The policy was "hard" in relation to the policies of certain other central banks in Europe. The "hard" and "soft" was in respect to the aims of inflation and political interference. This policy was the foundation of the European Central Bank's present policy[clarification needed] towards the euro. The German mark's stability was greatly apparent in 1993, when speculation on the French franc and other European currencies caused a change in the European Exchange Rate Mechanism. However, it should be remembered that "hard" is relative only if it is compared to other currencies, as in its 53-year history, the purchasing power of the German mark was reduced by over 70%.
Coins
[edit]The first Deutsche Mark coins were issued by the Bank deutscher Länder in 1948 and 1949. From 1950, the inscription Bundesrepublik Deutschland (Federal Republic of Germany) appeared on the coins. These coins were issued in denominations of 1pf, 2pf, 5pf, 10pf, and 50pf. The 1pf and 2pf coins were struck in bronze clad steel (although during some years the 2pf was issued in solid bronze) while 5pf and 10pf were brass clad steel and the 50-pfennig was in cupronickel. In 1950, cupronickel DM1 coins were released, while a cupronickel DM2 and a .625 silver DM5 were released in 1951. Cupronickel replaced silver in the DM5 in 1975. The DM2 and DM5 coins have often been used for commemorative themes, though typically only the generic design for the DM5 is intended for circulation. Commemorative silver DM10 coins have also been issued which have periodically found their way into circulation. Unlike other European countries, Germany retained the use of the smallest coins (1pf and 2pf) until adoption of the euro.
Image | Denomination | Dates issued | Composition | Diameter | Reverse | Obverse[16] |
---|---|---|---|---|---|---|
1pf | 1948–2001 | 1948–1949: Bronze-plated steel 1950–2001: Copper-plated steel |
16.5 mm | Denomination between rye stalks | Oak sprig | |
2pf | 1949–2001 | 1949–1968: Bronze 1968–2001: Bronze-plated steel |
19.25 mm | Denomination between rye stalks | Oak sprig | |
5pf | 1949–2001 | Brass-plated steel | 18.5 mm | Denomination between rye stalks | Oak sprig | |
10pf | 1949–2001 | Brass-plated steel | 21.5 mm | Denomination between rye stalks | Oak sprig | |
50pf | 1949–2001 | Cupro-nickel | 20 mm | Denomination | Woman planting an oak seedling[17] | |
DM 1 | 1950–2001 | Cupro-nickel | 23.5 mm | Denomination between oak leaves | German eagle | |
DM 2 | 1951–1956 | Cupro-nickel | 25.5 mm | Denomination between rye stalks and grapes[18] | German eagle | |
1957–1971 | Cupro-nickel | 26.75 mm | Max Planck | German eagle, denomination below | ||
1969–2001 | Cupro-nickel (Cu 75% Ni 25%) | 26.75 mm | 1969–1987: Konrad Adenauer 1970–1987: Theodor Heuss 1979–1993: Kurt Schumacher 1988–2001: Ludwig Erhard 1990–2001: Franz Josef Strauss 1994–2001: Willy Brandt |
German eagle, denomination below | ||
DM 5 | 1951–1974 | .625 silver (Ag 62.5% Cu 37.5%) | 29 mm | Denomination | German eagle | |
1975–2001 | Cupro-nickel (Cu 75% Ni 25%) | 29 mm | Denomination | German eagle |
The weights and dimensions of the coins can be found in an FAQ of the Bundesbank.[19] Unlike other countries (such as Australia) there was no attempt or proposal suggested for the withdrawal of the 1pf and 2pf coins. Both coins were still in circulation in 2001 and supermarkets in particular still marked prices to the nearest pfennig. This penchant for accuracy continues with the euro (while Finland or the Netherlands for example, price to the nearest 5 cents) with the 1-cent coin still encountered in Germany.
There were a considerable number of commemorative silver DM 5 and DM 10 coins, which actually had the status of legal tender but were rarely seen outside of collectors' circles.
On 27 December 2000, the German government enacted a law authorizing the Bundesbank to issue, in 2001, a special .999 pure gold DM 1 coin commemorating the end of the German mark. The coin had the exact design and dimensions of the circulating cupro-nickel DM 1 coin, with the exception of the inscription on the reverse, which read Deutsche Bundesbank (instead of Bundesrepublik Deutschland), as the Bundesbank was the issuing authority in this case. A total of one million gold DM 1 coins were minted (200,000 at each of the five mints) and were sold beginning in mid-2001 through German coin dealers on behalf of the Bundesbank. The issue price varied by the dealer but averaged approximately US$165.
German coins bear a mint mark, indicating where the coin was minted. D indicates Munich, F Stuttgart, G Karlsruhe and J Hamburg. Coins minted during the Second World War include the mint marks A (Berlin) and B (Vienna). The mint mark A was also used for German mark coins minted in Berlin beginning in 1990 following the reunification of Germany. These mint marks have been continued on the German euro coins.
Between 1 July 1990 (the currency union with East Germany) and 1 July 1991, East German coins in denominations up to 50 pfennigs continued to circulate as Deutsche Mark coins at their face value, owing to a temporary shortage of small coins. These coins were legal tender only in the territory of the former East Germany.
Colloquial expressions
[edit]In colloquial German the 10pf coin was sometimes called a groschen (compare: groat). Likewise, sechser ('sixer') could refer to a coin of 5pf. Both colloquialisms refer to several pre-1871 currencies of the previously independent states (notably Prussia), where a groschen was subdivided into 12 pfennigs, hence half a groschen into 6. After 1871, 12 old pfennigs would be converted into 10pf of the mark, hence 10pf coins inherited the groschen name and 5pf coins inherited the sechser name. Both usages are only regional and may not be understood in areas where a groschen coin did not exist before 1871. In particular, the usage of sechser is less widespread. In northern Germany the DM 5 coin used to be also called a Heiermann, whereas in Bavaria the DM 2 coin was called Zwickl and this expression is now used for the €2 coin in the region.
Banknotes
[edit]There were four series of German mark banknotes:
- The first was issued in 1948 by the Allied military. There were denominations of DM1⁄2, DM 1, DM 2, DM 5, DM 10, DM 20, DM 50 and DM 100, with two designs of DM 20 and DM 50.
- The second series (BdL) was introduced in 1948 by the Bank deutscher Länder, an institution of the western occupation government. The designs were similar to the US Dollar and French franc, as the job of designing and printing the different denominations was shared between the Bank of France and the American Bank Note Company. There were denominations of 5pf and 10pf, DM 5, DM 10, DM 20, DM 50 and DM 100 marks. The last of the banknotes (DM 5 and DM 10) were phased out by 31 July 1966.
- The third series (I/Ia BBk) was introduced in 1960 by the Bundesbank, depicting neutral symbols, paintings by the German painters, and buildings. There were denominations of DM 5, DM 10, DM 20, DM 50, DM 100, DM 500 and DM 1,000. The series ceased to be legal tender on 30 June 1995.
- The fourth (BBk III/III a) was introduced in 1990 by the Bundesbank to counter advances in forgery technology. The notes depicted German artists and scientists together with symbols and tools of their trade. This series added a DM200 denomination, to decrease the use of DM 100 banknotes, which made up 54% of all circulating banknotes, and to fill the gap between the DM 100 and DM 500 denominations. In 1997–1998, new versions of DM 50, DM 100 and DM 200 were issued with improved security elements.
The notes with a value greater than DM 200 were rarely seen. A reserve series (BBk II) was commissioned on 1 July 1960, consisting of DM 10, DM 20, DM 50 and DM 100 banknotes. 670 million BBk II banknotes in value of 25 billion marks were printed. The notes were printed between 1963 and 1974 in fear if the Eastern Bloc would start systematically counterfeiting the BBk I series of banknotes to cripple the economy, then they would quickly be replaced by emergency notes. Another reserve series for West Berlin (BBk IIa) was commissioned on 1 July 1963, consisting of DM 5, DM 10, DM 20, DM 50 and DM 100 banknotes. 115 million West Berlin banknotes were printed, total value 4 billion marks. 15 billion marks worth of the banknotes were held in Bundesbank's custom-built underground bunker in Cochem in Rheinland-Pfalz, the rest was stored in Bundesbank's vault in Frankfurt.
Banknotes of the third series (BBk I/Ia)
[edit]In 1957, with Bank deutscher Länder and the states' central banks merging to form the Bundesbank, new banknotes were being designed, as "Bank deutscher Länder" on the previous series was no longer correct. The previous series' notes had been made out of less durable paper and had a rather short life. While previously damaged notes could be replaced from reserve stocks, this stock was also coming to an end, necessitating a reprint.
Typical security features at the time were guilloches, a multi-level head watermark and a security thread. Note numbers that fluoresced under UV light and green, yellow, and blue. 27 fluorescent fibers embedded in the paper appeared on most banknotes; however, some specimens without these features were in circulation. Starting in 1976, banknotes were equipped with machine-readable feature - a colorless inorganic oxide mixture applied to the security thread. Banknotes featuring that were designated BBk Ia within the Bundesbank. All banknotes of the third series bore the penalty for counterfeiting and forgery on the upper right corner of the reverse, from German penal code section 146: "Wer Banknoten nachmacht oder verfälscht, oder nachgemachte oder verfälschte sich verschafft und in Verkehr bringt, wird mit Zuchthaus/Freiheitsstrafe nicht unter zwei Jahren bestraft." ("Who falsifies or counterfeits banknotes, or procures falsified or counterfeit banknotes and releases them into circulation, is liable to imprisonment for at least two years".
The third series banknotes entered circulation on 10 February 1961, with the DM 20 note. DM 100 and DM 50 followed next year, and DM 5 and DM 10 in 1963. High-denomination DM 1000 and DM 500 followed in 1964 and 1965, respectively.
The banknotes were printed exclusively in West Germany; in Bundesdruckerei in West Berlin and in Giesecke+Devrient in Munich. The third series banknotes ceased to be legal tender on 30 June 1995, when the fourth series notes had been in circulation for 3–5 years. There were a total of five issues of the third series, main differences being the dates, and signatures of the Presidents and Vice Presidents of Bundesbank:[20][21]
Issue | Date | President | Vice President | Notable other changes |
---|---|---|---|---|
1 | 2 January 1960 | Karl Blessing | Heinrich Troeger | |
2 | 2 January 1970 | Karl Klasen | Otmar Emminger | "Zuchthaus" has been replaced with "Freiheitsstrafe" following 1969 Great Penal Code Reform |
3 | 1 June 1977 | Otmar Emminger | Karl Otto Pöhl | Machine-readable "M" feature, now designated BBk Ia |
4 | 2 January 1980 | Karl Otto Pöhl | Helmut Schlesinger | |
5 | 2 January 1980 | Karl Otto Pöhl | Helmut Schlesinger | "Deutsche Bundesbank" copyright notice with year of the denomination's first issue added on the bottom of the reverse |
Image | Dimensions | Paper color | Main color | Description | Date of | |||
---|---|---|---|---|---|---|---|---|
Obverse | Reverse | Obverse | Reverse | Issue | Withdrawal | |||
120×60 mm | Green | Green | Portrait of a Venetian Woman by Albrecht Dürer (1505) | A branch with oak leaves and acorns symbolizes German nature | 6/5/1963 | 30/6/1995 | ||
130×65 mm | Blue | Blue | Beardless Young Man by Lucas Cranach the Elder (1500) | Training ship Gorch Fock symbolizes German cosmopolitanism | 21/10/1963 | 30/6/1995 | ||
140×70 mm | Green | Green | Portrait of Elsbeth Tucher, née Pusch by Albrecht Dürer (1499) | A violin and a clarinet symbolizes the world of German music | 10/2/1961 | 30/6/1995 | ||
150×75 mm | Yellow | Brown | Portrait of Hans Urmiller from Portrait of Hans Urmiller and his Son by Barthel Beham (1525) | Holstentor in Lübeck symbolizes German civic pride | 18/6/1962 | 30/6/1995 | ||
160×80 mm | Blue | Blue | Cosmograph Sebastian Münster by Christoph Amberger (1552) | An eagle with stretched-out wings (Federal Eagle) symbolizes German state awareness | 26/2/1962 | 30/6/1995 | ||
170×85 mm | Yellow | Red | Portrait of a beardless man by Hans Maler zu Schwaz (1521) | Burg Eltz in Rhineland-Palatinate symbolizes German chivalry | 26/4/1965 | 30/6/1995 | ||
180×90 mm | Yellow | Brown | Portrait of Dr. Johannes Scheyring by Lucas Cranach the Elder (1529) | Limburg Cathedral symbolizes Romanesque architecture in Germany | 27/7/1964 | 30/6/1995 | ||
For table standards, see the banknote specification table. |
Banknotes of the fourth series
[edit]The design of German banknotes remained unchanged during the 1960s, 1970s and 1980s. During this period, forgery technology made significant advances and so, in the late 1980s, the Bundesbank decided to issue a new series of Deutsche Mark banknotes. The colours for each denomination remained unchanged from the previous series but the designs underwent significant changes and a DM 200 denomination was introduced. Famous national artists and scientists were chosen to be portrayed on the new banknotes. Male and female artists were chosen in equal numbers. The buildings in the background of the notes' obverses had a close relationship to the person displayed (e.g., place of birth, place of death, place of work), as well as the second background picture (Lyra and the musician Schumann). The reverses of the notes refer to the work of the person on the obverse.
The new security features were: a windowed security thread (with the notes' denominations in microprinting), watermarks, microprinting, intaglio printing (viewing-angle dependent visibility as well as a Braille representation of the notes denomination), colour-shifting ink (on the DM 500 and DM 1000 denominations), a see-through registration device and ultraviolet-visible security features.
First to be issued were the DM 100 and DM 200 denominations on 1 October 1990 (although the banknote shows "Frankfurt am Main, 2. Januar 1989"). The next denomination was DM 10 on 16 April 1991, followed by DM 50 on 30 September 1991.[23] Next was the DM 20 note on 20 March 1992 (printed on 2 August 1991). The reason for this gradual introduction was, that public should become familiar with one single denomination, before introducing a new one. The change was finished with the introduction of the DM 5, DM 500, and DM 1000 denominations on 27 October 1992. The DM 500, and DM 1000 denominations were rarely seen in circulation due to value and all were introduced in one step. With the advance of forgery technology, the Bundesbank decided to introduce additional security features on the most important denominations (DM 50, DM 100 and DM 200) as of 1996. These were a hologram foil in the center of the note's obverse, a matted printing on the note's right obverse, showing its denomination (like on the reverse of the new euro banknotes), and the EURion constellation on the note's reverse. Furthermore, the colours were changed slightly to hamper counterfeiting.
Image | Dimensions | Value in Euros (€) | Main color | Description | Date of | |||||
---|---|---|---|---|---|---|---|---|---|---|
Obverse | Reverse | Obverse | Reverse | First Printing | Issue | Withdrawal | ||||
122×62 mm | €2.56 | Green | Bettina von Arnim, historical buildings of Berlin | Brandenburg Gate | 1/8/1991 | 27/10/1992 | 31/12/2001 | |||
130×65 mm | €5.11 | Purple | Carl Friedrich Gauss, historical buildings of Göttingen | Sextant | 2/1/1989 | 16/4/1991 | 31/12/2001 | |||
138×68 mm | €10.23 | Aqua | Annette von Droste-Hülshoff, historical buildings of Meersburg | A quill pen and a European beech tree | 1/8/1991 | 20/3/1992 | 31/12/2001 | |||
146×71 mm | €25.56 | Olive Green | Balthasar Neumann, historical buildings of Würzburg | Partial view of the Würzburg Residence | 2/1/1989 | 30/9/1991 | 31/12/2001 | |||
154×74 mm | €51.13 | Blue | Clara Schumann, historical buildings of Leipzig | Grand Piano | 2/1/1989 | 1/10/1990 | 31/12/2001 | |||
162×77 mm | €102.26 | Orange | Paul Ehrlich, historical buildings of Frankfurt am Main | Microscope | 2/1/1989 | 1/10/1990 | 31/12/2001 | |||
170×80 mm | €255.65 | Red | Maria Sibylla Merian, historical buildings of Nuremberg | Dandelion, Inchworm, Butterfly | 1/8/1991 | 27/10/1992 | 31/12/2001 | |||
178×83 mm | €511.29 | Brown | Wilhelm and Jacob Grimm, historical buildings of Kassel | The 'German Dictionary', Alte Bibliothek in Berlin | 1/8/1991 | 27/10/1992 | 31/12/2001 | |||
Hologram variant | ||||||||||
As previous | 2/1/1996 | 2/2/1998 | 31/12/2001 | |||||||
2/1/1996 | 1/8/1997 | 31/12/2001 | ||||||||
2/1/1996 | 1/8/1997 | 31/12/2001 | ||||||||
For table standards, see the banknote specification table. |
Spelling and pronunciation
[edit]The German name of the currency is Deutsche Mark (fem., German pronunciation: [ˈdɔʏtʃə ˈmaʁk]); its plural form in standard German is the same as the singular. In German, the adjective "deutsche" (adjective for "German" in feminine singular nominative form) is capitalized because it is part of a proper name, while the noun "Mark", like all German nouns, is always capitalized. The English loanword "Deutschmark" has a slightly different spelling and one syllable fewer (possibly due to the frequency of silent e in English, or due to English's lack of adjectival endings), and a plural form in -s.
In Germany and other German speaking countries, the currency's name was often abbreviated as D-Mark (fem., [ˈdeːmaʁk]) or simply Mark (fem.) with the latter term also often used in English. Like Deutsche Mark, D-Mark and Mark do not take the plural in German when used with numbers (like all names of units), the singular being used to refer to any amount of money (e.g. eine (one) Mark and dreißig (thirty) Mark). Sometimes, a very colloquial plural form of Mark, Märker [ˈmɛʁkɐ] was used either as hypocoristic form or to refer to a small number of D-Mark coins or bills, e.g. Gib mir mal ein paar Märker ("Just give me a few marks") and Die lieben Märker wieder ("The lovely money again", with an ironic undertone).
The subdivision unit is spelled Pfennig (masc.; [ˈpfɛnɪç]), which unlike Mark does have a commonly used plural form: Pfennige ([ˈpfɛnɪɡə]), but the singular could also be used instead with no difference in meaning. (e.g.: ein (one) Pfennig, dreißig (thirty) Pfennige or dreißig (thirty) Pfennig). The official form is singular.
Reserve currency
[edit]Before the switch to the euro, the Deutsche Mark was the largest international reserve currency after the United States dollar.
The percental composition of currencies of official foreign exchange reserves from 1995 to 2022.[25][26][27]
Graphs are unavailable due to technical issues. Updates on reimplementing the Graph extension, which will be known as the Chart extension, can be found on Phabricator and on MediaWiki.org. |
See also
[edit]- Economy of Germany
- German adoption of the euro
- German euro coins
- German Papiermark and Notgeld
- German Reichsmark
- List of commemorative coins of the Federal Republic of Germany
References
[edit]- ^ "Kosovo adopts Deutschmark". BBC. 3 September 1999. Retrieved 22 June 2013.
- ^ Derek Boothby (January–March 2004). "The Political Challenges of Administering Eastern Slavonia". Global Governance. 10 (1). Global Governance: A Review of Multilateralism and International Organizations: 37–51 (15 pages). doi:10.1163/19426720-01001005. JSTOR 27800508.
- ^ "Determination of the euro conversion rates". European Central Bank. 1 January 1999. Archived from the original on 1 December 2007. Retrieved 20 February 2008.
- ^ "Exchanging DM for euro". Bundesbank. Archived from the original on 3 January 2015. Retrieved 4 January 2015.
- ^ "Why are Germans still using the deutsche mark?". theweek.com. 19 July 2012. Archived from the original on 13 December 2014. Retrieved 27 April 2018.
- ^ "Most Germans want Deutsche mark back, poll shows". reuters.com. 5 October 2011. Archived from the original on 21 May 2020. Retrieved 24 September 2021.
- ^ "RTL/ntv Trendbarometer: Sehnsucht nach der D-Mark geringer als noch vor zehn Jahren" (in German). Presseportal. 28 December 2021. Retrieved 9 December 2022.
- ^ a b Nicholas Balabkins, "Germany Under Direct Controls: Economic Aspects of Industrial Disarmament 1945–1948", Rutgers University Press, 1964 p. 145
- ^ Bundesbank.de Archived 2017-01-24 at the Wayback Machine Accessed 2015-01-04
- ^ Tyler Cowen, "The Marshall Plan: myths and realities" in U.S. Aid to the Developing World, A Free Market Agenda Archived 2011-01-22 at the Wayback Machine, Heritage Foundation, p.65
- ^ Tipton, Frank B. (2003). History of Modern Germany since 1815. Berkeley: University of California Press. pp. 511–13. ISBN 0-520-24050-2.
- ^ Sauermann, Heinz (1950). "The Consequences of the Currency Reform in Western Germany". Review of Politics. 12 (2): 175–196. doi:10.1017/S0034670500045009. JSTOR 1405052. S2CID 145428438.
- ^ Jörg Roesler: Die Stuttgarter Vorfälle vom Oktober 1948. Zur Entstehung der Sozialen Marktwirtschaft in der Bundesrepublik Deutschlands, in: Jahrbuch für Forschungen zur Geschichte der Arbeiterbewegung, No I/2007; Uwe Fuhrmann: Stuttgart 48 und die soziale Marktwirtschaft, in: Fuhrman et. a. (eds.): Ignoranz und Inszenierung, Münster 2012
- ^ Binyon, Michael (11 September 2009). "Thatcher told Gorbachev Britain did not want German reunification". London: Times. Retrieved 30 April 2022.
- ^ Ben Knight (8 November 2009). "Germany's neighbors try to redeem their 1989 negativity". Deutsche Welle. Archived from the original on 11 November 2009. Retrieved 9 November 2009.
- ^ "Coins of the Federal Republic of Germany". Coin and banknote collection. Archived from the original on 8 July 2009. Retrieved 2 May 2010.
- ^ The sculptor Richard Martin Werner designed the woman relief after his wife Gerda Johanna Werner (in German).
- ^ Sammler.com Archived 2018-04-27 at the Wayback Machine Withdrawn on 1 July 1958 over confusion with the similarly designed DM 1
- ^ "Deutsche Mark coins - Frequently Asked Questions (FAQ)". Deutsche Bundesbank (FAQ). 2021. Retrieved 2 June 2021.
- ^ Zeitung, Süddeutsche (17 May 2010). "DM-Mark-Scheine mit Sammlerwert". Süddeutsche.de (in German). Retrieved 23 September 2021.
- ^ "GERMANY F.R." banknote.ws. Retrieved 23 September 2021.
- ^ "Kursfähige Bundesbanknoten" (PDF). Deutsche Bundesbank. January 1986. Archived (PDF) from the original on 9 August 2019.
- ^ Linzmayer, Owen (2012). "Federal Republic of Germany". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. Archived from the original on 29 August 2012.
- ^ [1] Archived 14 July 2014 at the Wayback Machine
- ^ For 1995–99, 2006–22: "Currency Composition of Official Foreign Exchange Reserves (COFER)". Washington, DC: International Monetary Fund. 3 April 2023.
- ^ For 1999–2005: International Relations Committee Task Force on Accumulation of Foreign Reserves (February 2006), The Accumulation of Foreign Reserves (PDF), Occasional Paper Series, Nr. 43, Frankfurt am Main: European Central Bank, ISSN 1607-1484ISSN 1725-6534 (online).
- ^ Review of the International Role of the Euro (PDF), Frankfurt am Main: European Central Bank, December 2005, ISSN 1725-2210ISSN 1725-6593 (online).
External links
[edit]- Coins of the Third Reich
- Overview of German Mark from BBC online
- Historical US Dollars to German Marks currency conversion, 1913–2005
- Historical banknotes of Germany including East German banknotes
Preceded by: Reichsmark, Rentenmark, AM-Mark Reason: intended to protect West Germany from the second wave of hyperinflation and stop the rampant barter and black market trade Ratio: 1 DM = 1 RM (either) below 600 RM 1 DM = 10 RM above 600 RM and each person received 40 DM |
Currency of West Germany (incl. West Berlin) 21 (24 W-Berlin) June 1948 – 30 June 1990 Note: except of the state of the Saarland (1957–1959) |
Currency of Germany 1 July 1990 – 31 December 2001 Note: euro existed as money of account since 1 January 1999, with DM coins and banknotes being the German appearance of the euro |
Succeeded by: Euro Reason: deployment of euro cash Ratio: 1 euro = 1.95583 Deutsche Mark |
Preceded by: French franc and Saar Franc Reason: currency union (9 July 1959), after the Saarland had joined West Germany (1 January 1957) Ratio: 100 Francs = 0.8507 Deutsche Mark | |||
Preceded by: Mark of the GDR Reason: currency union (1 July 1990) preparing the German reunification (3 October 1990) Ratio: at par up to 4000 GDR marks 2 GDR marks = 1 DM above 4000 GDR marks | |||
Preceded by: Yugoslav new dinar Reason: political and economic reasons |
Currency of Kosovo, Montenegro 1999 – 31 December 2001 |