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Values of the most important German Banknotes of the Inflation Period from 1920 - 1923List of the most important german banknotes from the inflation period with their values.
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 This is an 10,000 Mark banknote from Germany which was issued 1922 |
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| Germany lost 1918 world war I. The treaty of Versailles damned Germany 1919 to pay a lot of reparations to the nations that won the war. Germany had a very weak economy at this time. The young republic of Weimar had no money. So Germany printed a lot of money which lost its value from day to day. The inflation period started 1919 and became worst on November 1923. 1923 french troops occupied the German industry region the "Ruhrgebiet" because Germany didn't pay its reparations at that time. Therefore the inflation became worse and worst at this time. |
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The following table shows you the value of 1 $ at this time:
| Date | Approx. Value of 1 US $ in German Marks |
| 1/1/1920 | 50 Mark |
| 1/1/1921 | 75 Mark |
| 1/1/1922 | 190 Mark |
| 7/1/1922 | 400 Mark |
| 1/1/1923 | 9,000 Mark |
| 6/1/1923 | 100,000 Mark |
| 9/1/1923 | 10,000,000 Mark |
| 10/10/1923 | 10,000,000,000 Mark |
| 10/25/1923 | 1,000,000,000,000 Mark |
| 11/15/1923 | 4,200,000,000,000 Mark |
| The inflation ended with the issue of the German Rentenmark at November
1923. 1 Rentenmark was 1,000,000,000,000 Mark. 1 US Dollar was 4.20 Rentenmark. The banknote with the highest denomination was 100,000,000,000,000 mark (100,000 billion marks = Einhundert Billionen Mark) and had the worth of 100 Rentenmark. It was issued February 1924 and has a high value for collectors because this banknote is a rarity (value approx. 2,500 $) |
The values depend on the condition of the banknotes.
Value for condition I (= unc) and III (used condition, not torn and not very bad
cond.) in Euro. 1 Euro is about 1.10 US$
The values are average prices for the cheapest types of these banknotes that collectors may pay for these banknotes in Germany. These banknotes don't have any currency value today.
Last update 04/29/2015
| Denomination | Value for grade vf in Euro | Value for grade unc in Euro |
| 50 Mark "Fünfzig Mark" 24.6.1919 | 1 | 8 |
| 10 Mark "Zehn Mark" 6.2.1920 | 1 | 3 |
| 1 Mark 1.3.1920 | 1 | 2 |
| 2 Mark 1.3.1920 (verschiedene Typen) |
1 | 2 |
| 50 Mark "Fünfzig Mark" 23.7.1920 | 2 | 10 |
| 100 Mark "Hundert Mark" 1.11.1920 | 1 | 8 |
| 10.000 Mark, Zehntausend Mark, 19.1.1922 210 x 124 mm |
5 | 20 |
| 10.000 Mark 19.1.1922 180 x 100 mm, |
2 | 5 |
| 500 Mark "Fünfhundert Mark" 27.3.1922 | 5 | 30 |
| 500 Mark "Fünfhundert Mark" 7.7.1922 | 2 | 10 |
| 100 Mark "Hundert Mark" 4.8.1922 | 2 | 15 |
| 1 Mark 15.9.1922 | 1 | 2 |
| 2 Mark 15.9.1922 | 1 | 2 |
| 1000 Mark, Tausend Mark 15.9.1922 | 1 | 3 |
| 5000 Mark, Fünftausend Mark 16.9.1922 | 15 | 130 |
| 5000 Mark, Fünftausend Mark 19.11.1922 | 5 | 100 |
| 50.000 Mark, Fünfzigtausend Mark 19.11.1922 | 3 | 10 |
| 5000 Mark, Fünftausend Mark 2.12.1922 | 1 | 3 |
| 1000 Mark, Tausend Mark 15.12.1922 | 150 | 300 |
| 100.000 Mark, Hunderttausend Mark, 1.2.1923 | 2 | 8 |
| 20.000 Mark, Zwanzigtausend Mark 20.2.1923 | 1 | 4 |
| 1.000.000 Mark, Eine Million Mark, 20.2.1923 | 2 | 10 |
| 500.000 Mark, Fünfhunderttausend Mark, 1.5.1923 | 5 | 15 |
| 5.000.000 Mark, Fünf Millionen Mark, 1.6.1923 | 15 | 30 |
| 2.000.000 Mark, Zwei Millionen Mark, 23.7.1923 | 8 | 25 |
| 100.000 Mark, Hunderttausend Mark, 25.7.1923 | 1 | 3 |
| 500.000 Mark, Fünfhunderttausend Mark, 25.7.1923 | 1 | 4 |
| 1.000.000 Mark, Eine Million Mark, 25.7.1923 Geldschein weiß, schwarz, gelblich und nur einseitig bedruckt |
3 | 30 |
| 1.000.000 Mark, Eine Million Mark, 25.7.1923 Zweiseitig bedruckt |
10 | 50 |
| 5.000.000 Mark, Fünf Millionen Mark, 25.7.1923 | 2 | 15 |
| 10.000.000 Mark, Zehn Millionen Mark, 25.7.1923 | 2 | 15 |
| 20.000.000 Mark, Zwanzig Millionen Mark, 25.7.1923 | 1 | 5 |
| 50.000.000 Mark, Fünfzig Millionen Mark, 25.7.1923 | 1 | 5 |
| 50.000 Mark, Fünfzigtausend Mark 9.8.1923 | 3 | 8 |
| 200.000 Mark, 9.8.1923 | 1 | 3 |
| 1.000.000 Mark, Eine Million Mark, 9.8.1923 | 1 | 3 |
| 2.000.000 Mark, Zwei Millionen Mark, 9.8.1923 | 1 | 3 |
| 5.000.000 Mark, Fünf Millionen Mark, 20.8.1923 | 2 | 8 |
| 10.000.000 Mark, Zehn Millionen Mark, 22.8.1923 | 1 | 3 |
| 100.000.000 Mark, Einhundert Millionen Mark, 22.8.1923 | 2 | 5 |
| 20.000.000 Mark, Zwanzig Millionen Mark, 1.9.1923 | 2 | 5 |
| 50.000.000 Mark, Fünfzig Millionen Mark, 1.9.1923 | 1 | 3 |
| 500.000.000 Mark, Fünfhundert Millionen Mark, 1.9.1923 | 2 | 6 |
| 1.000.000.000 Mark, Eine Milliarde Mark auf 1000 Mark, 15.12.1922 | 2 | 6 |
| 1.000.000.000 Mark, Eine Milliarde Mark, 5.9.1923 | 3 | 25 |
| 5.000.000.000 Mark, Fünf Milliarden Mark, 10.9.1923 | 5 | 25 |
| 10.000.000.000 Mark, Zehn Milliarden Mark, 15.9.1923 | 10 | 35 |
| 10.000.000.000 Mark, Zehn Milliarden Mark, 1.10.1923 | 10 | 40 |
| 20.000.000.000 Mark, Zwanzig Milliarden Mark, 1.10.1923 | 10 | 30 |
| 50.000.000.000 Mark, Fünfzig Milliarden Mark, 10.10.1923 | 20 | 50 |
| 200.000.000.000 Mark, Zweihundert Milliarden Mark, 15.10.1923 | 15 | 35 |
| 1.000.000.000 Mark, Eine Milliarde Mark, 20.10.1923 | 2 | 5 |
| 5.000.000.000 Mark, Fünf Milliarden Mark, 20.10.1923 | 2 | 8 |
| 50.000.000.000 Mark, Fünfzig Milliarden Mark, 26.10.1923 | 8 | 30 |
| 100.000.000.000 Mark, Einhundert Milliarden Mark, 26.10.1923 | 8 | 25 |
| 500.000.000.000 Mark, Fünfhundert Milliarden Mark, 26.10.1923 | 20 | 50 |
| 100.000.000.000.000 Mark, Hundert Billionen Mark,
26.10.1923 Die höchste je in Deutschland ausgegebene Nominale |
1000 | 2000 |
| 1.000.000.000.000 Mark, Eine Billion Mark, 1.11.1923 | 50 | 200 |
| 5.000.000.000.000 Mark, Fünf Billionen Mark, 1.11.1923 | 300 | 600 |
| 10.000.000.000.000 Mark, Zehn Billionen Mark, 1.11.1923 Rechts steht: 10 000 Milliarden |
350 | 700 |
| 10.000.000.000.000 Mark, Zehn Billionen Mark, 1.11.1923 Rechts steht: 10 Billionen |
350 | 500 |
| 100.000.000.000 Mark, Einhundert Milliarden Mark, 5.11.1923 | 10 | 30 |
| 1.000.000.000.000 Mark, Eine Billion Mark, 5.11.1923 | 70 | 160 |
| 2.000.000.000.000 Mark, Zwei Billionen Mark, 5.11.1923 | 70 | 160 |
| 5.000.000.000.000 Mark, Fünf Billionen Mark, 7.11.1923 | 400 | 800 |
| 10.000.000.000.000 Mark, Zehn Billionen Mark, 1.2.1924 | 200 | 750 |
| 20.000.000.000.000 Mark, Zwanzig Billionen Mark, 5.2.1924 | 1000 | 2000 |
| 50.000.000.000.000 Mark, Fünfzig Billionen Mark, 10.2.1924 | 1500 | 4000 |
| 100.000.000.000.000 Mark, Hundert Billionen Mark, 15.2.1924 Die höchste je in Deutschland ausgegebene Nominale |
5000 | 10.000 |
| 5.000.000.000.000 Mark, Fünf Billionen Mark, 15.3.1924 | 200 | 500 |
Collector values of the other old German banknotes
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