Search results
Results from the WOW.Com Content Network
German coins bear a mint mark, indicating where the coin was minted. D indicates Munich, F Stuttgart, G Karlsruhe and J Hamburg. Coins minted during the Second World War include the mint marks A (Berlin) and B (Vienna). The mint mark A was also used for German mark coins minted in Berlin beginning in 1990 following the reunification of Germany.
The Reichsmark was replaced by the Deutsche Mark at a rate of 10:1 (1:1 for cash and current accounts) in June 1948 in the Trizone [5] and later in the same year by the East German mark in the Soviet Occupation Zone (colloquially also "Ostmark", since 1968 officially "Mark der DDR").
The introduction of the German mark in 1873 was the culmination of decades-long efforts to unify the various currencies used by the German Confederation. [2] The Zollverein unified in 1838 the Prussian and South German currencies at a fixed rate of 1 Prussian thaler = 1 + 3 ⁄ 4 South German gulden = 16.704 g fine silver.
From August 1921, the president of the Reichsbank, Rudolf Havenstein, began a strategy of buying foreign currency with marks at any price, without any regard for inflation, and it only increased the speed of the collapse in value of the mark. [11] German officials claimed this was in order to make cash payments owed to the Allies using foreign ...
The East German mark (German: Mark der DDR [ˈmaʁk deːɐ̯ ˌdeːdeːˈʔɛʁ] ⓘ), commonly called the eastern mark (German: Ostmark [ˈɔstmaʁk] ⓘ) in West Germany and after reunification), in East Germany only Mark, was the currency of the German Democratic Republic (East Germany).
The remaining convertible mark of Bosnia and Herzegovina is a currency that officially replaced the German mark as de facto currency of the ruptured economy and hyper-inflation of local divided currencies after the Bosnian war, pegged to the German mark 1:1 at the time, and further pegged to Euro at the rate at which German mark was replaced, i ...
The Reichsbank was established by legislation of the Reichstag of 14 March 1875, and assumed its new role on 1 January 1876 when it succeeded the Bank of Prussia. Meanwhile, between 1873 and 1875 the Bank of Prussia assumed all the assets and liabilities of the Hamburger Bank, which was a major monetary anchor in Northern Germany.
30 June — The third series (BBk I/Ia) Deutsche Mark banknotes cease to be legal tender after being in circulation for 30-34 years. September - T-Online was founded in Berlin. Private company Deutsche Post was founded in Bonn.