Description: During and after WWI, money, especially small change, was in short supply and this was down to several reasons. There had been an expansion of the German occupied territories and too much ‘real money’ had flowed to those new areas. Nickel coins were gradually withdrawn from circulation so that the metal could be used in the war efforts and people's natural tendency to hold onto something of value, (ie) coins and banknotes, furthered the shortage. The value and price of silver had also risen dramatically so all the silver coins vanished from circulation, as their intrinsic value was higher than their face value. There had been a lack of small face-value regular change since 1916 and this was felt throughout the entire country. The striking of 50pf coins had taken far too long, it was stated by the national bank.....possibly due to lack of workers because of the war. The coinage was now being made from zinc and iron.........and today, there are still many metal notgeld coins from around 1917 that can be found by the collector.To alleviate this problem of the shortage of small change that was needed for day-to-day business, the state bank (Reichsbank) appears to have agreed to allow towns, villages and municipalities to issue their own money. These issues, initially were actual emergency issues. The word does not mean emergency or necessity and geld means money. so notgeld means emergency money...... These highly collectable German Gems. interesting old banknotes, with their different colourful motifs and designs, can usually be found at flea markets etc. and will fascinate the collectors out there!! Notgeld (German for "emergency money" or "necessity money") refers to money issued by an institution in a time of economic or political crisis. The issuing institution is usually one without official sanction from the central government. This occurs usually when sufficient state-produced money is not available from the central bank. Most notably, notgeld generally refers to money produced in Germany and Austria during World War I and the Interbellum. Issuing institutions could be a town's savings banks, municipality and private or state-owned firms. Nearly all issues contained an expiry date, after which time they were invalid. Issues without dates ordinarily had an expiry announced in a newspaper or at the place of issuance.Notgeld was mainly issued in the form of (paper) banknotes. Sometimes other forms were used, as well: coins, leather, silk, linen, wood, postage stamps, aluminium foil, coal, and porcelain; there are also reports of elemental sulfur being used, as well as all sorts of re-used paper and carton material (e.g. playing cards). These pieces made from playing cards are extremely rare and are known as Spielkarten, the German word for "playing card".Notgeld was a mutually-accepted means of payment in a particular region or locality, but notes could travel widely. Some cases of Notgeld could better be defined as scrip, which were essentially coupons redeemable only at specific businesses. However, the immense volume of issues produced by innumerable municipalities, firms, businesses, and individuals across Germany blurred the definition. Collectors tend to categorize by region or era rather than issuing authority (see below). Notgeld is different from occupation money that is issued by an occupying army during a war.
Price: 11.95 USD
Location: Atlanta, Georgia
End Time: 2024-12-05T19:57:07.000Z
Shipping Cost: 0 USD
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Item Specifics
Restocking Fee: No
Return shipping will be paid by: Seller
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
Circulated/Uncirculated: Uncirculated
Type: Banknotes
Year: 1921
Country: Germany
Grade: Ungraded
Country/Region of Manufacture: Germany
Certification: Uncertified
