Incredible Hamptons Rare Coin Auction 24 Part 2 Day 3
By Key Date Coins
Contact auction house
Jun 1, 2023
148 Route 73 Suite 3-184 Voorhees, NJ 08043 USA, United States
Terms of sale
View demo
The auction has ended
|
LOT 111114426:
1937 Germany 1 Rentenmark Banknote P# 173b Grades vf+. The "Rentenmark" was issued in 1923 to help stop ...
more...
|
|
|
Sold for: $5
Start price:
$
5
Estimated price :
$25 - $100
Buyer's Premium: 18%
|
1937 Germany 1 Rentenmark Banknote P# 173b Grades vf+. The "Rentenmark" was issued in 1923 to help stop the hyperinflation in Weimar Germany after the "Paper Mark" had become worthless. Unlike the Goldmark, which was backed by gold, or the Papermark, which lacked the backing of a commodity, the Rentenmark was backed by the land used for agriculture and business. The Act creating the Rentenmark backed the currency by means of twice yearly payments on property, due in April and October, payable for five years. Although the Rentenmark was not initially legal tender, it was accepted by the population and its value was relatively stable.
