1 Rentenmark, 1937, Germany (Pick-173)

Rentenmark banknotes were a special emergency currency introduced in Germany in late 1923 to stop the catastrophic hyperinflation that had made the old Papiermark essentially worthless. They were issued by the Rentenbank, a state-backed institution created specifically for this reform. Unlike earlier currency, the Rentenmark was not backed by gold, but by mortgages on agricultural land and industrial property, giving it credibility and stability. By the 1930s Germany effectively had a dual system:

Rentenmark (issued by the Rentenbank)
Reichsmark (official currency)

Maintaining both meant occasional reprints of Rentenmark notes were necessary to keep enough cash in circulation.

SKU bh708-w77209