GERMANY, 20 milliard mark 1.10.1923

$20.00

GERMANY, 20 milliard mark, 1.10.1923, Face: dark green on multicolor, utility design, Back: blank, watermark E: G-D stars, P118a, aVF

1 in stock

SKU: 3162112 Categories: ,

Description

The German government abandoned the gold standard during World War I, and the Weimar government continued the practice of printing more money than it had.

Aside from China, other governments started using circulating “banknotes” starting in the 17th century AD. The practice became general in the 19th century. In the 20th century value of paper money in circulation far surpassed the value of coinage. In the 21st century paper money is fading and credit transactions are growing.