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Values of the most important German Banknotes of the Inflation Period from 1920 - 1923

List of the most important german banknotes from the inflation period with their values.

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Collector values of the other old German banknotes

10,000 Mark
This is an 10,000 Mark banknote from Germany which was issued 1922

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Introduction

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.

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 $)

Values of the most important German Banknotes from 1920 - 1923

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
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
20.000 Mark, Zwanzigtausend Mark 20.2.1923 1
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
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 8
200.000 Mark,  9.8.1923 1 3
1.000.000 Mark, Eine Million Mark,  9.8.1923 1
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
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 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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