WORLD WAR I REMEMBERED   

2014 to 2018 marks the 100th Anniversary of World War I, also known as "The Great War" or the "The War to End All Wars".   The war and its aftermath created numerous coin and currency issues.  Old empires were swept away and new nations created. The lands of the former Austro-Hungarian Empire went to the form the nations of Austria, Czechoslovakia, Hungary and with parts going to create Poland and Yugoslavia. The collapse of the Czarist government of Russia brought on by the Bolshevik Revolution allowed Finland, Estonia, Latvia, Lithuania and Poland to gain independence.  Other portions of the Russian Empire also gained temporary independence before coming back under Russian control.  From the lands of the Ottoman Empire: Turkey, Iraq, Syria, Lebanon, Palestine (now Israel, Jordan and maybe someday an independent Palestine), Kingdom of Hejaz and the Sultanate of Nejd (today Saudi Arabia), the Mutawakkilite Kingdom of Yemen, and the Arab States of the Persian Gulf were created.    The financial and political instability that followed the war helped instigate World War II. This page includes a number of historic banknotes and coins associated with World War I and its aftermath.  

THE BEGINNINGS

GERMAN EMPIRE COIN & CURRENCY SETS

In 1871 Otto Von Bismarck united the 26 independent German States under Prussian King Wilhelm I, forming the Second Reich, also known as the German Empire. During its 47 years of existence, the German Empire became the industrial, technological, and scientific giant of Europe and the world's third largest economy.  It created a colonial empire and possessed the world strongest army.  The Empire disintegrated as a result of Germany's defeat in World War I.  This six-coin set includes the silver 1 Mark, which was minted from 1873 until 1916; the silver 1/2 Mark, minted from 1905 to 1919; the copper-nickel 5 and 10 Pfennig and the copper 1 and 2 Pfennig, which were minted from 1874 to 1916.  All six coins feature the Imperial German Eagle on the reverse and the denomination on the obverse.  The coins grade Fine or Extra Fine.   The set of 3 banknotes consist of the 20 Mark, 100 Mark and 1000 Mark notes dated between 1908 and 1914. The blue 20 Mark featured a crowned imperial German Eagle at the upper right and measures 136x90mm.  The blue 100 Mark includes a large crowned imperial German Eagle on the front.  The back features two women holding a large medallion depicting a woman's head. The large note measures 160 x105mm (6.3" x 4.1"). The brown 1000 Mark note features two allegorical women representing seafaring and agriculture flanking the imperial German arms. The over-sized note is 187mm x 110mm (7.3” x 4.3”). It is printed on special ridged hemp paper containing blue silk threads.  When first issued the three notes could be redeemed for over 12 ounces of gold on demand!   After the start of World War I Germany halted the redemption of banknotes for gold - but kept on printing banknotes.  By 1922 the notes were virtually worthless due to inflation.  It is an impressive and historic currency set.

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THE WAR YEARS  1914-1918

GERMAN WORLD WAR I ERA COIN SET 

Because of the difficulty in obtaining nickel and copper needed for coins due to World War I, Germany made a number of changes in their coinage.  In 1917 the copper 1 Pfennig was switched to aluminum and shrunk in size.  It was discontinued shortly after that.  The copper 2 Pfennig was discontinued due to the war.  The copper-nickel 5 Pfennig was changed to iron in 1915 and continued to be produced until 1922.   The copper-nickel 10 Pfennig was produced in two metals: iron, starting in 1916, and zinc starting in 1917.  Both continued to be struck until 1922.  All the coins had the denomination on one side and the imperial German Eagle on the other.   This World War I era four coin set includes the aluminum 1 Pfennig, iron 5 Pfennig and both the iron and zinc 10 Pfennig in Very Fine of better condition.

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WAR MONEY FROM COBLENZ, GERMANY  

During World War I many communities in Germany issued their own coins called "Kriegsgeld" which translates as war money. We offer a set of two Kriegsgeld from the city of Coblenz (now Koblenz) dated 1918.  The iron 10 and 25 Pfennig have the same design.  One side has the city name, arms and the legend "GÜLTIG BIS 1 JAHR NACH FRIEDENSSCHLUSS" which translates as "Good for 1 Year after the conclusion of Peace".  The other side has the denomination and date.

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EMERGENCY WORLD WAR I 50 PFENNIG NOTE OF KIEL, GERMANY

Kiel is an important seaport located at the mouth of the Kiel Canal which connects the Baltic Sea to the North Sea.  It was also a major base for the German Imperial Navy.   By the beginning of 1918 the war effort was not going well for Germany.  Though the German government continued to mint silver 1/2 Mark coins, they were hoarded almost as soon as they were minted, resulting in a serious coin shortage.   To help alleviate the shortage and allow merchants and citizens to carry on commercial transactions the city of Kiel issued this emergency 50 Pfennig note dated January 1, 1918. The note measures 95 x 54mm. The front features the denomination and date in words and has a green under-printing depicting ships on the ocean.  The back features the Kiel city hall.  

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EMERGENCY WORLD WAR I BANKNOTES OF KIEL

These 5 and 10 Mark note was issued by the German city of Kiel in the closing days of World War I. They are dated October 15, 1918, less than a month before the end of the War.  Kiel, located on the strategically important Kiel Canal which connects the Baltic Sea to the North Sea, was a major base of the Imperial German Navy. By 1918 Germany was in a near hopeless position.  The Americans had entered the war against Germany. Morale of its citizens and armed forces was low.  The economy was a wreck. It could not produce food to feed its populace nor produce enough arms to continue fighting.  On October 24, 1918 the order was given for the German fleet to attack the Royal Navy in hopes of gaining a stronger negation position for favorable peace terms.  Seeing the hopelessness of their situation, sailors of the German High Seas Fleet instead mutinied. By November 4, the sailors, joined by soldiers and workers had taken over the entire city of Kiel, taking control of both military and public institutions. Revolts quickly spread to other cities throughout Germany. On November 11, Germany having been abandoned by its allies and teettering on collapse signed the armistice bringing an end to World War I.  The notes have similar designs, featuring the Kiel city hall on the back.  They are emergency issues that expired on May 1, 1919, less than seven months after their  issue date. They are little known but historic notes issued during a turbulent period of history.

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WORLD WAR I ERA GERMAN MUNICIPAL CURRENCY

As World War I drew to a close many municipalities issued currency.  These notes are called grossgeldscheine, which translates as large banknotes.  Most are full sized notes dating between October 1918 and February 1919 with denominations from 1 to 50 Mark.  We have a nice selection of these historic, hard to find notes.  Some are punch cancelled.

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WORLD WAR I RUSSIAN POSTAGE STAMP MONEY  

Russia faced a severe coin shortage during World War I.   In 1915, in order to provide for much needed small change, the government created this emergency issue of postage stamp notes.  The postage stamp notes were printed on thin cardboard using the designs of stamps issued in 1913 to commemorate the 300th anniversary of the Romanov dynasty.  The back had the imperial Russian eagle and text indicting that the stamp money should be accepted the same as silver or copper coins.  The brown 15 Kopeck features Czar Nicholas I, who reigned from 1825 to 1855. It is 24 x 13mm and has perforated edges.   Just two years after the czarist postage stamp notes were issued the Czar Nicholas II was deposed and murdered by the Bolsheviks, bringing and end to the rule of the Romanov dynasty.

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THE AFTERMATH

LAST BANKNOTE OF THE GERMAN EMPIRE  

This attractive 50 Mark note is the last note of the German Empire. It is dated June 23, 1919, some seven months after Germany's defeat in World War I and less than 7 weeks before the signing of the new constitution in Weimar which formally ended the German Empire and ushered in the weak and chaotic Weimar Republic. The large, green note measures 153x102mm and features an allegorical figure of a woman against a starry background.

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SCHLESWIG PLEBISCITE NOTE FROM FLENSBURG

After World War I, control of the Schleswig-Holstein region was disputed between Denmark and Germany.  Historically, control of various portions of the region had alternated between Denmark and Germany over the centuries.  It was decided to hold two plebiscites and let the inhabitants of the regions decide which country they wished to join.  The first plebiscite held in the northern portion elected to become part of Denmark. The southern portion elected to join Germany.  The town of Flensburg is at the northern end of the southern portion and a vast majority of its population was of German ancestry.  Shortly after the plebiscite, Flensburg issued this 25 Pfennig note showing the Danes having lost a tug-of-war with the Germans and the Germans welcoming them.  The date of the plebiscite, March 14, 1920 appears above the Danes.  The reverse consists of text.  It is an unusual note reflecting a vote.

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BANKNOTE OF UPPER AUSTRIA

After the collapse and dismemberment of the Austro-Hungarian Empire following its defeat in World War I, coins disappeared from circulation. The state of Upper Austria issued small, low denomination notes to help alleviate the coin shortage. One side of the orange 50 Heller note features the arms of Upper Austria.  The other side is blank.     Both notes are dated 1921 and were issued in Linz, the capital of Upper Austria.

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 BONN CELEBRATES BEETHOVEN  

The German city of Bonn commemorated the 150th anniversary of the birth of Ludwig van Beethoven with this 1920 10 Pfennig coin.  The coin has Beethoven's bust and the dates 1770 and 1920  on the obverse and the denomination is on the reverse. It is struck on zinc plated iron.  Beethoven was born in Bonn and studied there before moving to Vienna in 1792.  During and after World War I many German cities and towns issued their own coins, called notgeld (emergency money) to alleviate a severe coin shortage brought on by the war.

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LOW AND HIGH DENOMINATION GERMAN MUNICIPAL NOTES

Germany’s hyperinflation is clearly demonstrated in these municipal emergency banknotes.  The low denomination notes issued around the end of World War I were needed because of a shortage of small change. The second issue, done just a few years later in 1923 was needed because inflation was so bad that cities printed their own money to pay their workers.  From the City of Frankfurt is a 25 Pfennig dated November 1, 1919. It would buy about 1 loaf of bread.  A view of the city is on the back.  The Frankfurt 100 million Mark note is dated September 28, 1923.  It would buy about 2 loaves of bread.  The back of the note depicts the Imperial Cathedral of Saint Bartholomew on the left and St. Paul’s Church on the right.  Both were severely damaged in World War II.  From the City of Marburg is a 50 Pfennig note dated July 5, 1918, shortly before the end of World War I.  It depicts the Town Hall and St. George’s Column (now a fountain) on the front and the city emblem on the back. The Marburg 20 Milliarden Mark (20 Billion Mark) note is dated October 27, 1923.  It pictures St. Elizabeth’s Church and a monument on the front and is blank on the back.  They are fascinating historical symbols of Germany’s hyperinflation.

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GERMAN SET OF 9 GERMAN NOTES 1 MARK - 2 MILION MARK 1920-1923 INFLATION ERA NOTE SET

This set of nine banknotes issued by the German government vividly illustrates the 1920-1923 hyperinflation.  This set includes the 1 and 2 Mark dated March 1, 1920. The notes were needed because all silver 1 Mark coins had disappeared from circulation.  The large-size (162 x 108mm) 100 Mark note is dated November 1, 1920 and depicts the head of the Bamberg Horseman.  It was worth about $1.50 when first issued.  Also included is the 500 Mark dated July 7, 1922;  1000 Mark dated September 15, 1922; 5000 Mark dated December 2, 1922 and 20,000 Mark dated February 20, 1923. The magnificent, large 100,000 Mark is dated February 1, 1923, features a cut from Hans Holbein the Younger's portrait "The Merchant Georg Gisze".  The last note in the collection is the 2 Million Mark note dated August 9, 1923.  It was worth less than a dollar when introduced and would be virtually worthless in less than a month.
The notes grade Fine to Almost Uncirculated.  It is an impressive and historic collection showing what happens when government spending gets out of control.

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10 MILLION MARK!

This Uncirculated German 10 Million Mark note is dated August 22, 1923.  This was during the height of Germany's Post-World War I hyperinflation.  When first issued it could buy a few eggs.  By November it was virtually worthless.  The note is printed on watermarked paper.  In order to speed up production of notes, it is printed on one side only.  It is a reminder of what happens when government does not control its spending.

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CLICK HERE to see our exhibit on the coins and notes of the German Hyperinflation

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WEIMAR REPUBLIC COMMEMORATES 3rd ANNIVERSARY WITH 3 MARK

In 1922 Germany issued a circulating 3 Mark coin commemorating the 3rd Anniversary of the Weimar Constitution.  The denomination, date and mintmark are on the obverse.  A Germanic Eagle and the legend "VERFASSUNGSTAG 11. AUGUST 1922" (Constitution day, August 11, 1922) is on the other.  The aluminum coin is 28mm aluminum and 1.55mm thick. The coins catalog $25 each, but due to a fortunate purchase we can offer them for substantially less than that.   

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GERMAN NOTGELD COINS AND PAPER 

Notgeld means "emergency money" in German, and generally refers to an extensive series of locally issued coins and currency produced during and following World War I.  Notgeld was issued in paper, metal and even porcelain and other materials.  Below is a selection of this fascinating but little known collectible.

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METAL GERMAN NOTGELD COINS

Notgeld coins were struck for over 600 communities and companies in Germany between 1916 and 1922, though many are not dated.  Most are in denominated from 5 to 50 Pfennig. Typically the city arms or landmark is on one side and the denomination is on the other.  They were usually struck in zinc or iron, both of which corrode easily, so the coins may be spotted or rusted.

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ATTRACTIVE AND COLORFUL GERMAN NOTGELD NOTES

These attractive, colorful small (most less than 4 inches - 90cm long) were issued by communities throughout Germany during and after World War I.  They quickly became a popular with collectors and by 1921 many thousand different types were produced.  They have a wide variety of themes, including fairy tales, local history, monuments, and political satire.  Every lot is different, however there may be duplication between lots.  They are a fun and fascinating collectible and remarkably inexpensive considering they are over 100 years old!

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GERMANY INFLATION NOTGELD NOTES  

By the summer of 1923 inflation roared totally out of control in Germany.  The federal government couldn't print money fast enough, so municipalities and companies printed their own money to pay workers and buy supplies. Of course, only increased the money supply making inflation even worse. These notes are known as inflation notgeld (emgergency money).   In most cases the notes would only be accepted in the communities they were issued, and then, sometimes only reluctantly.   The notes clearly demonstrate what happens when governments print too much money to cover their expenses.
 We offer selections of this inflation notgeld.  Most are denominated between 100,000 Mark and 100 Milliarden (100 billion) Mark and most date between July and November 1923.   Most are full sized notes.  Some have attractive designs, others have simple designs and are printed on one side only reflecting the rush to produce the notes.   Every lot is different, though there may be some duplication between lots.

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CLICK HERE to see our exhibit on the coins and notes of the German Hyperinflation

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HISTORIC 1930 YOUNG PLAN BONDS ATTEMPT TO PAY GERMAN WAR REPARATIONS

After its defeat in World War I, Germany was saddled with heavy war reparations, the repayment of which contributed to the 1923 German hyperinflation and helped bring Hitler to power.  An attempt was made in 1924 to restructure the payments, however that quickly failed.  A second attempt was made in 1929.  The proposal was known as the Young Plan.  It was named after its chairman, American industrialist Owen D. Young, who founded the Radio Corporation of America (RCA) and was Chairman of General Electric.   The Young Plan reduced payments by about 20%, stretched payment out over 58 years, and created the Bank of International Settlements to facilitate the reparation payments.  One third of the annual reparations were to be paid by Germany from general revenue, however that payment could be postponed. Two thirds of the annual payments were to be financed by a consortium of American banks and were "unconditional".  In 1930 bonds were issued various currencies to help implement the plan.  The plan however quickly failed.  The stock market crash of 1929, the start of the Great Depression and the collapse of international trade made the plan infeasible. As might be expected, the plan was unpopular with most Germans and Hitler made repudiation of the war reparations a major element of his campaigns.  He repudiated the debt after becoming Chancellor in 1933. After Germany's defeat in World War II the payments were again restructured, and Germany finally paid off the last of its reparation debt and interest in 2020, 92 years after its defeat in World War I.  We offer ab  historic `000 Swiss Francs 1930 Young Plan Bond.   The bonds paid 5 1/2% interest.  They have texts in German, English and French.    The large sized bonds measure approximately 11.75" x 16.5" (300 x 420mm) and have been punch canceled.  The Swiss bonds include a partial sheet of 41 coupons, dating from June 1, 1945 to June 1 1965.  They are important but rarely seen financial instruments.

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REMEMBERING THE WAR

WORLD WAR I REMEMBRANCE COINS FROM CANADA

In 1915 Canadian physician Lieutenant-Colonel John McCrae wrote the immortal poem "In Flanders Fields".   The poem refers to the fields of red poppies that grew between the graves of the soldiers that died in the Battles of Ypres.  The poem first published anonymously in Great Britain, quickly grew in popularity throughout the English speaking world.  It was used in propaganda efforts and appeals to sell war bonds and recruit solders.  The red poppy became a widely recognized symbol to remember soldiers that died in conflicts.  In 2015 Canada marked the 100th anniversary of John McCrea’s famous poem with circulating commemorative 25 Cent coins.  Two versions of the copper-nickel 25 cent coin were issued, one with a realistic color depiction of a red poppy.  The other features an uncolored poppy. Queen Elizabeth is on the obverses and the coins are Uncirculated.

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Also see:
WORLD WAR II COINS & CURRENCY

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