East German mark
Mark der DDR (German) |
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| | A 100 Mark banknote from East Germany showing Karl Marx | Obverse of 1 East German mark | | | ISO 4217 Code | DDM | | User(s) | German Democratic Republic | | Pegged with | Deutsche Mark = M11 | | Subunit | | | 1/100 | pfennig | | Symbol | M | | Plural | Mark | | pfennig | Pfennig | | Coins | | | Freq. used | 1, 5, 10, 20, 50 Pfennig and 1, 2, 5 Mark | | Rarely used | 10, 20 Mark | | Banknotes | | | Freq. used | 5, 10, 20, 50, 100 Mark | | Rarely used | 200, 500 Mark | | Central bank | Staatsbank der DDR | | This infobox shows the latest status before this currency was rendered obsolete. | - Informal and artificial; the East German mark was officially a nonconvertible domestic currency
| The East German mark (German: Mark der DDR) commonly called eastern mark (Ostmark in West Germany and after the reunification), in East Germany only Mark, was the currency of the German Democratic Republic (East Germany). Its ISO 4217 currency code was DDM. The currency was known officially as the Deutsche Mark until 1964, Mark der Deutschen Notenbank until 1967 and the Mark der DDR (Mark of the GDR) after, it was referred to colloquially as simply the Mark. It was divided into 100 Pfennig (Pf). Image File history File links 100-Mark-1971. ...
DDR mark - from de. ...
A £20 Bank of England banknote. ...
Karl Heinrich Marx (May 5, 1818, Trier, Germany – March 14, 1883, London) was a German philosopher, political economist, and revolutionary. ...
“East Germany†redirects here. ...
A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ...
ISO 4217 Code DEM User(s) Germany, Montenegro, Kosovo ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 1. ...
The pfennig was a small German coin valued at 1/100 of a Deutsche Mark and other German currencies with the name Mark. ...
Look up Plural in Wiktionary, the free dictionary Plural is a grammatical number, typically referring to more than one of the referent in the real world. ...
The pfennig was a small German coin valued at 1/100 of a Deutsche Mark and other German currencies with the name Mark. ...
The Federal Republic of Germany (West Germany) and the German Democratic Republic (East Germany) German reunification (German: ) took place on October 3, 1990, when the areas of the former German Democratic Republic (GDR, in English commonly called East Germany) were incorporated into the Federal Republic of Germany (FRG, in English...
“East Germany†redirects here. ...
ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...
1964 (MCMLXIV) was a leap year starting on Wednesday (the link is to a full 1964 calendar). ...
History
On 21 June 1948, the reichsmark and the rentenmark were abolished in the western occupation zones and replaced with the Deutsche Mark issued by the Bank deutscher Länder (later the Deutsche Bundesbank). Because the Reichsmark was still legal tender in the Soviet occupation zone, the currency flooded into the east from the west where it was worthless. This caused sudden inflation, which caused the privately held cash supplies of East Germany to become worthless overnight. As an emergency measure, the Soviets affixed a seal to those Reichsmark and Rentenmark banknotes for which the owners could prove their origin. Only those marks were exchanged when the Deutsche Notenbank issued the new East German mark with the subsequent currency reform. The provisional notes were issued a few days after the changeover in the Trizone. October 31 is the 304th day of the year (305th in leap years) in the Gregorian Calendar, with 61 days remaining, as the final day of October. ...
1951 (MCMLI) was a common year starting on Monday; see its calendar. ...
July 31 is the 212th day (213th in leap years) of the year in the Gregorian Calendar, with 153 days remaining. ...
1964 (MCMLXIV) was a leap year starting on Wednesday (the link is to a full 1964 calendar). ...
August 1 is the 213th day of the year in the Gregorian Calendar (214th in leap years), with 152 days remaining. ...
1964 (MCMLXIV) was a leap year starting on Wednesday (the link is to a full 1964 calendar). ...
December 31 is the 365th day of the year (366th in leap years) in the Gregorian Calendar. ...
1967 (MCMLXVII) was a common year starting on Sunday of the Gregorian calendar (the link is to a full 1967 calendar). ...
January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ...
Year 1968 (MCMLXVIII) was a leap year starting on Monday (link will display full calendar) of the 1968 Gregorian calendar. ...
June 30 is the 181st day of the year (182nd in leap years) in the Gregorian Calendar, with 184 days remaining. ...
MCMXC redirects here; for the Enigma album, see MCMXC a. ...
June 21 is the 172nd day of the year (173rd in leap years) in the Gregorian calendar, with 193 days remaining. ...
1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ...
User(s) Germany Subunit 1/100 Reichspfennig Symbol RM Reichspfennig Rpf. ...
A 1926 5 Rentenmark banknote (http://www. ...
The Deutsche Bundesbank is the central bank of Germany and a part of the European System of Central Banks. ...
Occupation zones of Germany after 1945 The Bizone was the combination of the American and the British occupation zones during the occupation of Germany after World War II. With the addition of the French occupation zone, the entity became the Trizone. ...
In July 1948, a completely new series of East German mark was issued. It maintained the official name Deutsche Mark until 1964, but it was known, especially in the west, as the Ostmark, or East mark. For the next several years, the currency was denominated Mark der Deutschen Notenbank (MDN).
With the constitutional amendments of 1968 and 1974, the leadership of East Germany moved away from the original goal of a unified Germany, using the phrase "... of the GDR" where earlier they would simply have said "German ...". In this way the name of the currency was changed from MDN to Mark der DDR (M), or "Mark of the GDR", and the name of the state bank from Deutsche Notenbank to Staatsbank der DDR. Coins minted prior to the renaming, with the legend Deutsche Mark (i.e., in 1 and 2 DM denominations), continued to circulate for several years, but they were gradually replaced by the early 1980s by coins with the legend Mark. The flag of the German Democratic Republic, 1959–90 The German Democratic Republic (GDR), German: Deutsche Demokratische Republik (DDR), often known in English as East Germany, existed from 1949 to 1990. ...
It was officially valued by the East German government at parity with the West German mark, but it was never freely convertible. Visitors to East Germany were required to exchange a set amount of Deutsche Mark for Ostmark at this ratio every day of their stay. On the black market, though, the rate was about 5 to 10 M to one DM. The East German mark could not be spent in Intershops to acquire Western consumer goods; only hard currencies or Forum checks were accepted. Intershop brand coffee Intershops were hard currency shops in East Germany. ...
It has been suggested that Soft currency be merged into this article or section. ...
Forum checks (German: Forumscheck) were a form of hard currency in East Germany. ...
Upon adoption of the Deutsche Mark in East Germany on 1 July 1990, the GDR Mark was converted at par for wages, prices and basic savings (up to a limit of 4000 Mark except for children (less) and pensioners (more)). Larger amounts of savings, company debts and housing loans were converted at a 2:1 rate whilst so-called "speculative money", acquired shortly before unification, was converted at a rate of 3:1. This inflated exchange rate was intended as a massive subsidy for eastern Germany by the government of the Federal Republic of Germany, and remains controversial among economists, with some arguing that the exchange of currency was the most practical way of quickly unifying the German economy, and others arguing that the exchange increased the disruption of German unification beyond what they otherwise would be, by among other things, making eastern German industries uncompetitive. July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ...
MCMXC redirects here; for the Enigma album, see MCMXC a. ...
The Federal Republic of Germany (West Germany) and the German Democratic Republic (East Germany) German reunification (German: ) took place on October 3, 1990, when the areas of the former German Democratic Republic (GDR, in English commonly called East Germany) were incorporated into the Federal Republic of Germany (FRG, in English...
Circulating currency
Coins The first issue of coins in 1948 consisted of aluminium 1, 5 and 10 pfennig denominations, with aluminium-bronze 50 pfennig coins added in 1950. Aluminium 1 mark, 2 mark and 50 pfennig pieces were released for circulation in 1956, 1957 and 1958, respectively. In 1969, brass 20 pfennig coins were introduced, with nickel-bronze (later cupronickel) 5 Mark coins issued from 1968.
Banknotes Old Rentenmark and Reichsmark notes had stamps affixed in 1948 in denominations of 1, 2, 5, 10, 20, 50 and 100 Deutsche Mark. These were replaced by new notes later the same year, with all the same denominations issued, plus 50 Deutsche Pfennig and 1000 Deutsche Mark.
A second issue of 1955 contained the denominations 5, 10, 20, 50 and 100 deutsche Mark, whilst a third series of 1964 contained the denominations 5, 10, 20, 50 and 100 Mark der Deutschen Notenbank. The final series of East German banknotes carried dates of 1971 or 1975 and was in denominations of 5, 10, 20, 50 and 100 Mark der DDR.
50 Mark notes On the red 50-mark note is a picture of Friedrich Engels, the co-founder of Marxist theory. The reverse shows an industrial complex like those in the Chemical Triangle in Bitterfeld. The confusion of pipes and smokestacks in the chemical plants and power stations highlight the importance of industry in East Germany. Friedrich Engels (November 28, 1820, Wuppertal – August 5, 1895, London), a 19th-century German political philosopher, developed communist theory alongside his better-known collaborator, Karl Marx, co-authoring The Communist Manifesto (1848). ...
Marxist theory is an academic specialization in Western academias. ...
Bitterfeld is a town in Saxony-Anhalt, capital of the district Bitterfeld. ...
100 Mark notes The highest valued and best known of the notes distributed by the Staatsbank was the 100-mark denomination. The blue note shows Karl Marx on the front, and the back pictures the Palast der Republik in a scene of Unter den Linden strasse. In the background, the Berlin TV tower and the red city hall (Rathaus) can be seen. The combination of science, politics, business, and people was intended to honor the socialist system and to show the GDR as a progressive and modern country. Karl Heinrich Marx (May 5, 1818, Trier, Germany – March 14, 1883, London) was a German philosopher, political economist, and revolutionary. ...
The Palast der Republik in 2003 Inside the Palast der Republik in 2003, after asbestos and interior furnishings were removed Demolition work on the Palast der Republik, 2006 The Palast der Republik (Palace of the Republic) was a building in Berlin, on the bank of the River Spree between Schlossplatz...
A view of Unter den Linden, showing the linden trees for which it is named Unter den Linden (in English: Under the Lindens), is a street in the centre of Berlin, the capital of Germany. ...
The Berliner Fernsehturm seen from a distance. ...
200 and 500 Mark notes The state bank of the GDR had planned to issue 200- and 500-Mark notes. The notes were, in fact, printed in 1971 and in 1984 as a preparation, but were never circulated. A few examples are held by collectors. Image File history File linksMetadata Size of this preview: 800 × 600 pixels Full resolution (2304 × 1728 pixel, file size: 754 KB, MIME type: image/jpeg) This image depicts a unit of currency. ...
Image File history File linksMetadata Size of this preview: 800 × 600 pixels Full resolution (2304 × 1728 pixel, file size: 754 KB, MIME type: image/jpeg) This image depicts a unit of currency. ...
Image File history File linksMetadata No higher resolution available. ...
Image File history File linksMetadata No higher resolution available. ...
These notes differed from the lower-denomination notes in that they did not have a personality on the obverse. The 200-mark note had on its front a family with two children in front of a modern GDR high-rise. The back pictured a schoolyard with eight children and a teacher. The watermark was a dove of peace.
On the 500-mark note, the front showed the seal of the GDR (hammer and a pair of compasses in a wreath), while the back showed the State Council (Staatsrat) building of the GDR.
Destruction of the banknotes Almost all the paper money of the GDR (about 100 billion Mark, or 620 million banknotes with a volume of 4500 m³ (about 300 boxcars)), including all the currency collected at the time of the monetary union and the never-used 200 and 500-mark banknotes, was stored in 1990 and 1991 in two 300-m long sandstone caverns in the Thekenberge near Halberstadt. In total, 3000 tons of banknotes, passbooks, and checks were stored there, having been brought by military convoy from the old treasury in Berlin. With the merger of the state bank, the money went into the possession of the KfW in 1994. Liebfrauenkirche Halberstadt is a city in the German state of Saxony-Anhalt. ...
Location of Berlin within Germany / EU Coordinates Time zone CET/CEST (UTC+1/+2) Administration Country NUTS Region DE3 City subdivisions 12 boroughs Governing Mayor Klaus Wowereit (SPD) Governing parties SPD / Left. ...
Kreditanstalt für Wiederaufbau (KfW) is a development bank based in Frankfurt, Germany. ...
The 13-km tunnel system was built by prisoners of war at the end of World War II, and was used by the National People's Army under the code name "Malachit", or camp complex KL-12 NVA-Nr.16/630. It was the bunker with the largest floor space, and was used for the safeguarding of devices and munitions that would be needed for war. The money was protected from theft by two-meter-thick concrete walls and heavy steel doors. For cost reasons, the money was left to rot under the natural humidity, but it was further covered with gravel. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki TÅjÅ Casualties Military dead: 17,000,000 Civilian dead: 33,000...
The National People’s Army (German: Nationale Volksarmee) served as the military of the German Democratic Republic. ...
In July 2001, it was discovered that two Halberstadt residents had gained entry to the tunnel system through an unsecured opening and made off with numerous banknotes. The two, aged 24 and 26 were convicted of the crime and sentenced to four months in prison and three years of probation. Furthermore, they had to pay 120 euros to a non-profit organization. The uncirculated 200 and 500-mark notes still appear from time to time among collectors.
Because of the theft and the slowness of the rotting, the KfW then decided to burn the old currency. Between April and June of 2002, 298 containers of the currency remains were burned in an incinerator (6 containers per day) along with household refuse. The last container was burned 25 June 2002. June 25 is the 176th day of the year (177th in leap years) in the Gregorian Calendar, with 189 days remaining. ...
For album titles with the same name, see 2002 (album). ...
East German military currency In 1955, East Germany printed special military banknotes, which were never circulated. They were normal notes from 5 to 100 Mark in denomination, along with a handstamp for state coats of arms or "Sample Note". Preparations were made to introduce them in 1980, but they were never carried out. They were intended to be used in international missions of the National People's Army (NVA). The National People’s Army (German: Nationale Volksarmee) served as the military of the German Democratic Republic. ...
Those examples that circulate among collectors were most likely stolen when money was evacuated from East Germany in 1990.
See also Like other East European communist states, East Germany had a centrally planned economy (CPE), similar to the one in the former Soviet Union, in contrast to the more familiar market economies or mixed economies of most Western states. ...
Image File history File links Commons-logo. ...
The Wikimedia Commons (also called Wikicommons) is a repository of free content images, sound and other multimedia files. ...
User(s) Germany Subunit 1/100 Reichspfennig Symbol RM Reichspfennig Rpf. ...
A 1926 5 Rentenmark banknote (http://www. ...
Occupation zones of Germany after 1945 The Bizone was the combination of the American and the British occupation zones during the occupation of Germany after World War II. With the addition of the French occupation zone, the entity became the Trizone. ...
GDR redirects here. ...
June 24 is the 175th day of the year (176th in leap years) in the Gregorian calendar, with 190 days remaining. ...
1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ...
MCMXC redirects here; for the Enigma album, see MCMXC a. ...
ISO 4217 Code DEM User(s) Germany, Montenegro, Kosovo ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 1. ...
The Federal Republic of Germany (West Germany) and the German Democratic Republic (East Germany) German reunification (German: ) took place on October 3, 1990, when the areas of the former German Democratic Republic (GDR, in English commonly called East Germany) were incorporated into the Federal Republic of Germany (FRG, in English...
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