en.wikipedia.org/wiki/Deutsche_Mark
eurozone nations, where the euro and legacy currency circulated side by side for up to two months. However, DM coins and banknotes continued to be accepted as valid forms of payment in Germany until 28 February 2002.
Deutsche Bundesbank has guaranteed that all DM in cash form may be changed into euros indefinitely, and one may do so at any branch of the Bundesbank and banks worldwide. From time to time, some merchants hold promotions where Deutsche Marks are accepted as payment.
Although the Mark was based on gold rather than silver, a fixed exchange rate between the Vereinsthaler and the Mark of 3 Mark = 1 Vereinsthaler was used for the conversion.
Western Allies (the USA, the United Kingdom and France). The old Reichsmark and Rentenmark were exchanged for the new currency at a rate of 1 DM = 1 RM for the essential currency such as wages, payment of rents etc, and 1 DM = 10 RM for the remainder in private non banks credit balance, with half frozen.
East German Mark (also named "Deutsche Mark" from 1948-1964) was introduced a few days afterwards in the form of Reichsmark and Rentenmark notes with adhesive stamps to stop the flooding in of Reichsmark and Rentenmark notes from the West. In July 1948, a completely new series of East German Mark banknotes were issued.
In the 1990s, opinion polls showed a majority of Germans opposed to the adoption of the euro; polls today show a significant number would prefer to return to the Mark.
East Germany in July 1990, replacing the East German Mark (Mark der DDR), in preparation for unification on 3 October 1990. East German marks were exchanged for DM at a rate of 1:1 for the first 4000 Marks and 2:1 for larger amounts. Before reunification, each citizen of East Germany coming to West Germany was given Begrungsgeld, greeting money, a per capita allowance of 100 DM in cash. The government of Germany, and the Bundesbank were in major disagreement over the exchange rate between the East German Mark and the DM.
edit Stability of the DM The DM had a reputation as one of the world's most stable currencies; this was based on the monetary policy of the Bundesbank. The policy was "hard" in relation to the policies of certain other central banks in Europe. The "hard" and "soft" was in respect to the aims of inflation and political interference. This policy is the foundation of the European Central Bank's present policy towards the euro.
legal tender but were rarely seen outside of collectors' circles. The coin had the exact design and dimensions of the circulating cupro-nickel 1 DM coin, with the exception of the inscription on the reverse, which read "Deutsche Bundesbank" (instead of "Bundesrepublik Deutschland"), as the Bundesbank was the issuing authority in this case. A total of one million gold DM coins were minted (200,000 at each of the five mints) and were sold beginning in mid-2001 through German coin dealers on behalf of the Bundesbank. The issue price varied by dealer but averaged approximately $165 in US dollars. 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 WW2 include the mint marks A (Berlin) and B (Vienna). The mint mark A was also used for DM coins minted in Berlin beginning in 1990 following the reunification of Germany.
Currency union with East Germany) and July 1, 1991 East German coins of denominations up to 50 pfennigs continued to circulate as Deutsche Mark coins at their face value, due to a temporary shortage of small coins. These coins were legal tender only in the territory of former East Germany.
Prussia), where a Groschen was subdivided into 12 Pfennigs, hence half a Groschen into 6 After 1871, 12 Pfennigs of old currency would be converted into 10 Pfennig of the Mark, hence 10 Pfennig coins inherited the "Groschen" name and 5 Pfennig coins inherited the "Sechser" name. Both usages are only regional and may not be understood in areas where a Groschen coin did not exist pre-1871. Especially the usage of "Sechser" is less widely spread. In Northern Germany the 5 Mark coin used to be also called "Heiermann" (hired man).
edit Banknotes There were four series of DM banknotes: * The first was issued in 1948 by the Allied military. There were denominations of , 1, 2, 5, 10, 20, 50 and 100 DM, with two designs of 20 and 50 DM notes.
The notes depicted German artists and scientists together with symbols and tools of their trade. This series added a 200 DM denomination, to decrease the use of 100 DM banknotes, which made up 54% of all circulating banknotes, and to fill the gap between the 100 DM and 500 DM denomination. In the latter two series, the 5 DM denomination was rarely seen, as were the ones with a value greater than 100 DM.
Carl Friedrich Gau The design of German banknotes remained unchanged during the 1960s, '70s and '80s. During this period, forgery technology made significant advances so, in the late 1980s, the Bundesbank decided to issue a new series of Deutsche Mark banknotes. The colours for each denomination remained unchanged from the previous series but the designs underwent significant changes and a 200 DM denomination was introduced. Famous national artists and scientists were chosen to be portrayed on the new banknotes. The buildings in the background of the notes' obverses had a close relationship to the person displayed (eg, place of birth, place of death, place of work), as well as the second background picture (Lyra and the musician Schumann). The reverses of the notes refer to the work of the person on the obverse.
braille representation of the notes denomination), colour-shifting ink (on the 500 and 1000 DM denominations), a see-through register and UV-visible security features.
The next denomination was 10 DM on 16 April 1991, followed by 50 DM in autumn the same year. Next was the 20 DM note on 20 March 1992 (printed on 2 August 1991). The reason for this gradual introduction was, that public should become familiar with one single denomination, before introducing a new one. The change was finished with the introduction of the 5, 500, and 1000 DM denominations on 27 October 1992. The latter three denominations were rarely seen in circulation and were introduced in one step. With the advance of forgery technology, the Bundesbank decided to introduce additional security features on the most important denominations (50, 100, and 200 DM) as of 1996.
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