The Reichsmark (literally in English: Reich's mark; sign: ℛℳ) was the currency in Germany from 1924 until June 20, 1948. The Reichsmark was subdivided into 100 Reichspfennig.
The Reichsmark was introduced in 1924 as a permanent replacement for the Papiermark. This was necessary due to the 1920s German inflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was 1 ℛℳ = 1012 Papiermark (one trillion in both UK and US English, one billion in German and other European languages). To stabilize the economy and to smooth the transition, the Papiermark was not directly replaced by the Reichsmark, but by the Rentenmark, an interim currency backed by the Deutsche Rentenbank, owning industrial and agricultural real estate assets.
Obverse: Portrait of a young man
Reverse: A young peasant couple; Bronze Lion Monument on the
Burgplatz, in Braunschweig in front of a Romanesque
Burgplatz, in Braunschweig in front of a Romanesque
Braunschweig Cathedral
The Reichsmark was replaced in June 1948 by the Deutsche Mark in West Germany and later in the same year by the East German Mark (colloquially also "Ostmark", since 1968 officially "Mark der DDR") in East Germany.
