Currencies/German reichsmark

Introduction

The Reichsmark (ℛℳ) was the official currency of Germany from 1924 to 1948. It replaced the Papiermark after the hyperinflation of the early 1920s and served as the monetary unit of the Weimar Republic, Nazi Germany, and briefly postwar occupied Germany until replaced by the Deutsche Mark.

History

The Reichsmark was introduced in 1924 under the Monetary Reform Act, which stabilized Germany’s economy following the collapse of the Papiermark. It was divided into 100 Reichspfennig and backed initially by gold and later by industrial and agricultural assets. The new currency helped restore financial stability and international confidence under the Dawes Plan.

During Nazi rule (1933–1945), the Reichsmark remained the official currency but was subject to heavy state control, foreign exchange restrictions, and wartime inflation. After Germany’s defeat in 1945, the Reichsmark continued in limited use under Allied occupation until the currency reform of 20 June 1948, when it was replaced by the Deutsche Mark in the Western zones and the East German mark in the Soviet zone.

Coins

Reichsmark coins were minted in denominations of 1, 2, 5, 10, and 50 Reichspfennig, and 1, 2, and 5 Reichsmark. Early issues (1924–1936) featured republican symbols such as the Eagle of the Weimar Republic, while later Nazi-era coins displayed the swastika and imperial eagle. Coins were made from nickel, aluminum-bronze, and silver, depending on denomination and wartime resource availability.

Banknotes

Reichsmark banknotes were issued by the Reichsbank, with denominations ranging from 1 to 1000 Reichsmark. Designs evolved from the classic Weimar motifs to more propagandistic Nazi-era imagery after 1933. During World War II, additional occupation notes and emergency issues circulated in territories under German control.

Currency

The Reichsmark was defined as 1 ℛℳ = 100 Reichspfennig. Initially pegged to gold, it later became a fiat currency tied to Germany’s industrial output. During and after the war, over-issuance led to rapid devaluation, prompting the postwar Allied authorities to introduce new currencies in 1948.

Legacy

The Reichsmark represents a central period in German monetary history, spanning from Weimar stability to Nazi control and postwar collapse. Its eventual replacement by the Deutsche Mark marked the beginning of Germany’s modern economic recovery and the foundation of the postwar financial system.