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68-436: Constructed of stainless steel, the tower is memorable for the noticeable twist in its outer façade on a ferroconcrete core, making optimal use of the relatively small piece of ground on which it is located. Like many of Gehry's buildings, the tower was created with the most modern technology available at the time. Gehry's office first created a 1:100 model, which was then scanned and imported into CAD software to be able to compute

136-524: A Braille representation of the notes denomination), colour-shifting ink (on the DM ;500 and DM 1000 denominations), a see-through registration device and ultraviolet-visible security features. First to be issued were the DM 100 and DM 200 denominations on 1 October 1990 (although the banknote shows " Frankfurt am Main , 2. Januar 1989"). The next denomination was DM 10 on 16 April 1991, followed by DM 50 on 30 September 1991. Next

204-728: A colorless inorganic oxide mixture applied to the security thread. Banknotes featuring that were designated BBk Ia within the Bundesbank. All banknotes of the third series bore the penalty for counterfeiting and forgery on the upper right corner of the reverse, from German penal code section 146: " Wer Banknoten nachmacht oder verfälscht, oder nachgemachte oder verfälschte sich verschafft und in Verkehr bringt, wird mit Zuchthaus/Freiheitsstrafe nicht unter zwei Jahren bestraft. " ("Who falsifies or counterfeits banknotes, or procures falsified or counterfeit banknotes and releases them into circulation,

272-452: A greatly expanded market for German exports. Overnight, consumer goods appeared in the stores, because they could be sold for higher prices. While the availability of consumer goods is seen as a giant success story by most historians of the present, the perception at the time was a different one: prices were so high that average people could not afford to shop, especially since prices were free-ranging but wages still fixed by law. Therefore, in

340-778: A mint mark, indicating where the coin was minted. D indicates Munich, F Stuttgart, G Karlsruhe and J Hamburg. Coins minted during the Second World War include the mint marks A (Berlin) and B (Vienna). The mint mark A was also used for German mark coins minted in Berlin beginning in 1990 following the reunification of Germany. These mint marks have been continued on the German euro coins . Between 1 July 1990 (the currency union with East Germany ) and 1 July 1991, East German coins in denominations up to 50 pfennig s continued to circulate as Deutsche Mark coins at their face value, owing to

408-525: A new unit mark was proposed equal to a drittelthaler or 1 ⁄ 3 Vereinsthaler, also equal to 1 ⁄ 2 the Austrian gulden, but decimally divided into 100 pfennig instead of the existing 120 pfennig. Combined with a gold-silver ratio of 15.5, the new mark of 5 + 5 ⁄ 9 g fine silver was therefore equivalent to 100 ⁄ 279 g fine gold. With 5 billion gold francs (equivalent to 4.05 billion gold marks) secured from France at

476-652: A rate of 1:1 for the first M 4,000 and 2:1 for larger amounts. Before reunification, each citizen of East Germany coming to West Germany was given Begrüßungsgeld (welcome money), a per capita allowance of DM 100 in cash. The government of Germany and the Bundesbank were in major disagreement over the exchange rate between the East German mark and the German mark. France and the United Kingdom were opposed to German reunification, and attempted to influence

544-549: A rather short life. While previously damaged notes could be replaced from reserve stocks, this stock was also coming to an end, necessitating a reprint. Typical security features at the time were guilloches, a multi-level head watermark and a security thread. Note numbers that fluoresced under UV light and green, yellow, and blue. 27 fluorescent fibers embedded in the paper appeared on most banknotes; however, some specimens without these features were in circulation. Starting in 1976, banknotes were equipped with machine-readable feature -

612-540: A small number of D-Mark coins or bills, e.g. Gib mir mal ein paar Märker ("Just give me a few marks") and Die lieben Märker wieder ("The lovely money again", with an ironic undertone). The subdivision unit is spelled Pfennig ( masc. ; [ˈpfɛnɪç] ), which unlike Mark does have a commonly used plural form: Pfennige ( [ˈpfɛnɪɡə] ), but the singular could also be used instead with no difference in meaning. (e.g.: ein (one) Pfennig , dreißig (thirty) Pfennige or dreißig (thirty) Pfennig ). The official form

680-504: A standard of 5 grams silver per mark. Production of 2 and 5 mark coins ceased in 1915 while 1-mark coins continued to be issued until 1916. A few 3 mark coins were minted until 1918, and 1 ⁄ 2 mark coins continued to be issued in silver until 1919. These silver coins are token or subsidiary currency for the gold mark and are therefore legal tender only up to 20 marks. However, all silver 3-mark Vereinsthaler s issued before 1871 enjoyed unlimited legal tender status even after

748-410: A temporary shortage of small coins. These coins were legal tender only in the territory of the former East Germany. In colloquial German the 10pf coin was sometimes called a groschen (compare: groat ). Likewise, sechser ('sixer') could refer to a coin of 5pf. Both colloquialisms refer to several pre-1871 currencies of the previously independent states (notably Prussia ), where a groschen

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816-613: A troy ounce of gold was worth 86.78 ℳ︁). Gold coin production ceased in 1915. 5-mark gold coins were minted only in 1877 and 1878. Gold marks are a popular choice for Latin Currency Union coin collectors. The 20 mark is the most seen and offers a variety of different types that were mass-produced and therefore can be purchased at a low premium above each coin's melt value. However, some designs are extremely elusive given that they were struck in very low mintages. The rarest type features Adolph Friedrich V with just 1,160 pieces issued by

884-539: Is compared to other currencies, as in its 53-year history, the purchasing power of the German mark was reduced by over 70%. The first Deutsche Mark coins were issued by the Bank deutscher Länder in 1948 and 1949. From 1950, the inscription Bundesrepublik Deutschland (Federal Republic of Germany) appeared on the coins. These coins were issued in denominations of 1pf, 2pf, 5pf, 10pf, and 50pf. The 1pf and 2pf coins were struck in bronze clad steel (although during some years

952-500: Is intended for circulation. Commemorative silver DM10 coins have also been issued which have periodically found their way into circulation. Unlike other European countries, Germany retained the use of the smallest coins (1pf and 2pf) until adoption of the euro. denomination below denomination below The weights and dimensions of the coins can be found in an FAQ of the Bundesbank . Unlike other countries (such as Australia) there

1020-833: Is liable to imprisonment for at least two years". The third series banknotes entered circulation on 10 February 1961, with the DM 20 note. DM 100 and DM 50 followed next year, and DM 5 and DM 10 in 1963. High-denomination DM 1000 and DM 500 followed in 1964 and 1965, respectively. The banknotes were printed exclusively in West Germany; in Bundesdruckerei in West Berlin and in Giesecke+Devrient in Munich . The third series banknotes ceased to be legal tender on 30 June 1995, when

1088-552: Is part of a proper name, while the noun "Mark", like all German nouns, is always capitalized. The English loanword "Deutschmark" has a slightly different spelling and one syllable fewer (possibly due to the frequency of silent e in English, or due to English's lack of adjectival endings), and a plural form in -s . In Germany and other German speaking countries, the currency's name was often abbreviated as D-Mark ( fem. , [ˈdeːmaʁk] ) or simply Mark ( fem. ) with

1156-647: Is singular. Before the switch to the euro, the Deutsche Mark was the largest international reserve currency after the United States dollar . The percental composition of currencies of official foreign exchange reserves from 1995 to 2022. German mark (1871) The German mark ( German : Goldmark [ˈɡɔltmaʁk] ; sign : ℳ︁ ) was the currency of the German Empire , which spanned from 1871 to 1918. The mark

1224-594: The Papiermark (paper mark) which suffered a serious loss of value through hyperinflation following World War I during hyperinflation in the Weimar Republic . For comparison, from 1900 to 1933, the United States adhered to a gold standard as well with the gold dollar containing 1.50463 grams (23.22 grains ) fine gold; it was therefore worth 4.198 gold marks. The monetary hegemon of the time when

1292-609: The Deutsche Bundesbank . The Deutsche Mark earned a reputation as a strong store of value at times when other national currencies succumbed to periods of inflation . It became a source of national pride and an anchor for the country's economic prosperity, particularly during the years of the Wirtschaftswunder in the 1950s. The population in the Saar Protectorate rejected in a referendum

1360-643: The French franc . On 9 July 1959 the Deutsche Mark replaced the Saar franc at a ratio of 100 francs = DM 0.8507. The Deutsche Mark played an important role in the reunification of Germany. It was introduced as the official currency of 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 Deutsche Marks at

1428-659: The German gold mark was based on gold rather than silver (at 2.79 marks per gram of fine gold), a fixed exchange rate between the Vereinsthaler and the mark of 3 marks = 1 Vereinsthaler was used for the conversion. The first mark, known as the Goldmark , was introduced in 1873. With the outbreak of World War I , the mark was taken off the gold standard. The currency thus became known as the Papiermark , especially as high inflation , then hyperinflation occurred and

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1496-632: The Ostmark —literally Eastmark ) 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 was issued. Later in 1948, the Bank deutscher Länder ("Bank of the German States") assumed responsibility, followed in 1957 by

1564-693: The Papiermark ( lit.   ' Paper mark ' ) due to hyperinflation in the Weimar Republic from 1918 to 1923. The introduction of the German mark in 1873 was the culmination of decades-long efforts to unify the various currencies used by the German Confederation . The Zollverein unified in 1838 the Prussian and South German currencies at a fixed rate of 1 Prussian thaler = 1 + 3 ⁄ 4 South German gulden = 16.704 g fine silver. A larger currency convention in 1857 replaced

1632-649: The Soviet Union to stop it. However, in late 1989 France extracted German commitment to the Monetary Union in return for support for German reunification. The German mark 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"

1700-494: The Vereinsthaler being a silver standard currency, it remained unlimited legal tender for 3 gold marks until it was demonetized in 1908. The South German gulden of 4 ⁄ 7 Vereinsthaler was converted to 1 + 5 ⁄ 7 or 1.71 gold marks. The gold-based Bremen thaler was converted directly to the mark at a rate of 1 Thaler gold = 3 + 9 ⁄ 28 or 3.32 marks. The Hamburg mark courant or currency

1768-565: The end of the Franco-Prussian War , the new currency was launched in 1873 in the form of gold 10-mark and 20-mark coins as well as limited legal-tender silver marks and copper pfennigs. The German Empire 's conversion to the gold standard led to the same being adopted in the rest of Europe and North America, as well as the change in standard in the Latin Monetary Union from bimetallism to solely gold. Despite

1836-451: The 2pf was issued in solid bronze) while 5pf and 10pf were brass clad steel and the 50-pfennig was in cupronickel . In 1950, cupronickel DM1 coins were released, while a cupronickel DM2 and a .625 silver DM5 were released in 1951. Cupronickel replaced silver in the DM5 in 1975. The DM2 and DM5 coins have often been used for commemorative themes, though typically only the generic design for the DM5

1904-532: The Allies each zone was governed independently as regards monetary matters. The US occupation policy was governed by the directive JCS 1067 (in effect until July 1947), which forbade the US military governor "to take any steps to strengthen German financial structure". As a consequence a separate monetary reform in the U.S. zone was not possible. Each of the Allies printed its own occupation currency . The Deutsche Mark

1972-601: The Berlin Mint.   Banknotes were issued by the Imperial Treasury (known as "Reichskassenschein") and the Reichsbank , as well as by the banks of some of the states. Imperial Treasury notes were issued in denominations of 5, 10, 20 and 50 Mark, whilst Reichsbank notes were produced in denominations of 20, 50, 100 and 1000 Mark. The notes issued after 1914 are referred to as Papiermark . In Unicode,

2040-403: 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 DM 200 denomination was introduced. Famous national artists and scientists were chosen to be portrayed on the new banknotes. Male and female artists were chosen in equal numbers. The buildings in

2108-493: The Bundesbank in Germany. Banknotes and coins can even be sent to the Bundesbank by mail. In 2012, it was estimated that as many as 13.2 billion marks were in circulation, with one poll from 2011 showing a narrow majority of Germans favouring the currency's restoration (although only a minority believed this would bring any economic benefit). Polls in the early 2020s indicated only a minority of Germans supported reintroduction of

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2176-623: The DM 5 coin used to be also called a Heiermann , whereas in Bavaria the DM 2 coin was called Zwickl and this expression is now used for the €2 coin in the region. There were four series of German mark banknotes: The notes with a value greater than DM 200 were rarely seen. A reserve series (BBk II) was commissioned on 1 July 1960, consisting of DM 10, DM 20, DM 50 and DM 100 banknotes. 670 million BBk II banknotes in value of 25 billion marks were printed. The notes were printed between 1963 and 1974 in fear if

2244-534: The Deutsche Mark. A mark had been the currency of Germany since its original unification in 1871. Before that time, the different German states issued a variety of different currencies, the most common being the North German thaler and the South German gulden . By 1857, both currencies were linked to the Vereinsthaler , a silver coin containing 16 + 2 ⁄ 3 grams of pure silver. Although

2312-550: The Eastern Bloc would start systematically counterfeiting the BBk I series of banknotes to cripple the economy, then they would quickly be replaced by emergency notes. Another reserve series for West Berlin (BBk IIa) was commissioned on 1 July 1963, consisting of DM 5, DM 10, DM 20, DM 50 and DM 100 banknotes. 115 million West Berlin banknotes were printed, total value 4 billion marks. 15 billion marks worth of

2380-584: The Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until

2448-532: The Nazis, and which the Allies had not removed. He did this, as he often confessed, on Sunday because the offices of the American, British, and French occupation authorities were closed that day. He was sure that if he had done it when they were open, they would have countermanded the order. The introduction of the new currency was intended to protect western Germany from a second wave of hyperinflation and to stop

2516-424: The Prussian thaler with the Vereinsthaler of 16 + 2 ⁄ 3 g fine silver, equivalent to 1 North German thaler , 1 + 1 ⁄ 2 Austro-Hungarian florins , or 1 + 3 ⁄ 4 South German gulden . Unification to this system proceeded further due to German Unification in 1871 as well as monetary conventions from 1865 to 1870 expressing a desire to move to the gold standard . For this system

2584-513: The U.S. and Britain launched an airlift of food and coal and distributed the new currency in West Berlin as well. Since the 1930s, prices and wages had been controlled, but money had been plentiful. That meant that people had accumulated large paper assets, and that official prices and wages did not reflect reality, as the black market dominated the economy and more than half of all transactions were taking place unofficially. The reform replaced

2652-462: The advance of forgery technology, the Bundesbank decided to introduce additional security features on the most important denominations (DM 50, DM 100 and DM 200) as of 1996. These were a hologram foil in the center of the note's obverse, a matted printing on the note's right obverse, showing its denomination (like on the reverse of the new euro banknotes ), and the EURion constellation on

2720-495: The background of the notes' obverses had a close relationship to the person displayed (e.g., 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. The new security features were: a windowed security thread (with the notes' denominations in microprinting), watermarks, microprinting, intaglio printing (viewing-angle dependent visibility as well as

2788-622: The banknotes were held in Bundesbank's custom-built underground bunker in Cochem in Rheinland-Pfalz , the rest was stored in Bundesbank's vault in Frankfurt . In 1957, with Bank deutscher Länder and the states' central banks merging to form the Bundesbank, new banknotes were being designed, as "Bank deutscher Länder" on the previous series was no longer correct. The previous series' notes had been made out of less durable paper and had

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2856-582: The currency became exclusively made up of paper money. The Papiermark was replaced by the Rentenmark (RM) from 15 November 1923, and the Reichsmark (ℛ︁ℳ︁) in 1924. During the first two years of occupation the occupying powers of France, United Kingdom, United States, and the Soviet Union were not able to successfully negotiate a possible currency reform in Germany. Due to the strains between

2924-667: The dimensions for the individual parts, all of which vary in size and shape. Construction began in 1999, cost 8.5 million Deutsche Mark , and the building officially opened 28 June 2001. 52°22′29″N 9°43′50″E  /  52.37472°N 9.73056°E  / 52.37472; 9.73056 This article about a building or structure in Lower Saxony is a stub . You can help Misplaced Pages by expanding it . German mark The Deutsche Mark ( German: [ˈdɔʏtʃə ˈmaʁk] ; "German mark "), abbreviated " DM " or " D-Mark " ( [ˈdeːˌmaʁk] ),

2992-608: The economy. The currency reforms were simultaneous with the $ 1.4 billion in Marshall Plan money coming in from the United States, which primarily was used for investment. In addition, the Marshall plan forced German companies, as well as those in all of Western Europe, to modernize their business practices, and take account of the wider market. Marshall plan funding overcame bottlenecks in the surging economy caused by remaining controls (which were removed in 1949), and opened up

3060-459: The fourth series notes had been in circulation for 3–5 years. There were a total of five issues of the third series, main differences being the dates, and signatures of the Presidents and Vice Presidents of Bundesbank: The design of German banknotes remained unchanged during the 1960s, 1970s and 1980s. During this period, forgery technology made significant advances and so, in the late 1980s,

3128-421: The gold mark was in use, however, was the pound sterling , with the sovereign (£1) being valued at 20.43 gold marks. World War I reparations owed by Germany were stated in gold reserves in 1921, 1929 and 1931; this was the victorious Allies' response to their fear that vanquished Germany might try to pay off the obligation in paper currency. The actual amount of reparations that Germany was obliged to pay out

3196-542: The individual states, using a standard design for the reverses (the Reichsadler , the eagle insignia of the German Empire) with a design specific to the state on the obverse, generally a portrait of the monarch of the kingdom or duchy (and not that of the emperor); while the free cities of Bremen, Hamburg, and Lübeck each used the city's coat of arms. Occasionally commemorative coins were minted, in which cases

3264-549: The introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other eurozone states, where the euro and legacy currency circulated side by side for up to two months. Mark coins and banknotes continued to be accepted as valid forms of payment in Germany until 1 March 2002. The Deutsche Bundesbank has guaranteed that all German marks in cash form may be changed into euros indefinitely, and one may do so in person at any branch of

3332-414: The latter term also often used in English. Like Deutsche Mark , D-Mark and Mark do not take the plural in German when used with numbers (like all names of units), the singular being used to refer to any amount of money (e.g. eine (one) Mark and dreißig (thirty) Mark ). Sometimes, a very colloquial plural form of Mark , Märker [ˈmɛʁkɐ] was used either as hypocoristic form or to refer to

3400-410: The note's reverse. Furthermore, the colours were changed slightly to hamper counterfeiting. The German name of the currency is Deutsche Mark ( fem. , German pronunciation: [ˈdɔʏtʃə ˈmaʁk] ); its plural form in standard German is the same as the singular. In German, the adjective "deutsche" (adjective for "German" in feminine singular nominative form) is capitalized because it

3468-554: The obverse and (much more rarely) the reverse designs might depart from the usual pictorial standards. Many of the smaller states issued coins in very small numbers. Also, in general all states' coinage became very limited after the First World War began. Well-preserved examples of such low-mintage coins can be rare and valuable. The Principality of Lippe was the only state not to issue any gold coins in this period. Subsidiary silver coins were minted in .900 fineness to

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3536-406: The old money with the new Deutsche Mark at the rate of one new per ten old. This wiped out 90% of government and private debt, as well as private savings. Prices were decontrolled, and labor unions agreed to accept a 15% wage increase, despite the 25% rise in prices. The result was the prices of German export products held steady, while profits and earnings from exports soared and were poured back into

3604-412: The payment of debt that Germany had acquired in the inter-war period to finance its reparation payments, paying off the principal on those debts by 1980. The interest on those debts was paid off on 3 October 2010, the 20th anniversary of German reunification . Coins of denominations between 1 pfennig and 1 mark were issued in standard designs for the whole empire, whilst those above 1 mark were issued by

3672-583: The proposal to turn it into a "European territory". Despite French pre-referendum claims that a "no" vote would mean that the Saar would remain a French protectorate it in fact resulted in the incorporation of the Saar into the Federal Republic of Germany on 1 January 1957. The new German member state of the Saarland maintained its currency, the Saar franc , which was in a currency union at par with

3740-540: The rampant barter and black market trade (where cigarettes were used as currency). Although the new currency was initially only distributed in the three western occupation zones outside Berlin, the move angered the Soviet authorities, who regarded it as a threat. The Soviets promptly cut off all road, rail and canal links between the three western zones and West Berlin , starting the Berlin Blockade . In response,

3808-435: 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 1 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 the dealer but averaged approximately US$ 165. German coins bear

3876-405: The status of legal tender but were rarely seen outside of collectors' circles. On 27 December 2000, the German government enacted a law authorizing the Bundesbank to issue, in 2001, a special .999 pure gold DM 1 coin commemorating the end of the German mark. The coin had the exact design and dimensions of the circulating cupro-nickel DM 1 coin, with the exception of the inscription on

3944-620: The summer of 1948 a giant wave of strikes and demonstrations swept over West Germany, leading to an incident in Stuttgart where strikers were met by US tanks ("Stuttgarter Vorfälle"). Only after the wage-freeze was abandoned, Deutschmark and free-ranging prices were accepted by the population. In the Soviet occupation zone of Germany (later the German Democratic Republic ), the East German mark (also named "Deutsche Mark" from 1948 to 1964 and colloquially referred to as

4012-482: The switch-over to the gold standard . This ended with the demonetization of the Vereinsthaler in 1908 and the introduction of the new subsidiary 3-mark coins. The 5-mark coin, however, was significantly closer in value to older thalers (and other such crown-sized coins). Gold coins were minted in .900 fineness to a standard of 2,790 mark = 1 kilogram of gold (a mark was therefore about 0.3584 g of gold;

4080-551: Was converted at 1 mark = 1.2 Imperial marks, and the Hamburg mark banco of the Bank of Hamburg was converted at 1 mark banco = 1.5 Imperial marks. From 1 January 1876 onwards, the mark and vereinsthaler became the only legal tenders . Before 1914, the mark was on a gold standard with 2790 marks equal to 1 kilogram of pure gold (1 mark = 358 mg). The term Goldmark was created later to retrospectively distinguish it from

4148-629: Was in respect to the aims of inflation and political interference. This policy was the foundation of the European Central Bank 's present policy towards the euro. The German mark's stability was greatly apparent in 1993, when speculation on the French franc and other European currencies caused a change in the European Exchange Rate Mechanism . However, it should be remembered that "hard" is relative only if it

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4216-555: Was no attempt or proposal suggested for the withdrawal of the 1pf and 2pf coins. Both coins were still in circulation in 2001 and supermarkets in particular still marked prices to the nearest pfennig. This penchant for accuracy continues with the euro (while Finland or the Netherlands for example, price to the nearest 5 cents) with the 1-cent coin still encountered in Germany. There were a considerable number of commemorative silver DM 5 and DM 10 coins , which actually had

4284-682: Was not the 132 billion marks cited in the London Schedule of 1921 but rather the 50 billion marks stipulated in the A and B Bonds. The actual total payout from 1920 to 1931 (when payments were suspended indefinitely) was 20 billion German gold marks, worth about US$ 5 billion or £1 billion . Most of that money came from loans from New York bankers. Following the Nazi seizure of power in 1933, payments of reparations were officially abandoned. West Germany after World War II did not resume payment of reparations as such, but did resume

4352-405: Was officially introduced on Sunday 20 June 1948 by Ludwig Erhard . Large amounts were exchanged for 10 ℛ︁ℳ︁ to 65pf. In addition, each person received a per capita allowance of DM 60 in two parts, the first being DM 40 and the second DM 20. A few weeks later Erhard, acting against orders, issued an edict abolishing many economic controls which had been originally implemented by

4420-745: Was paired with the minor unit of the pfennig (₰); 100 pfennigs were equivalent to 1 mark. The mark was on the gold standard from 1871 to 1914, but like most nations during World War I , the German Empire removed the gold backing in August 1914, and gold coins ceased to circulate. After the fall of the Empire due to the November Revolution of 1918, the mark was succeeded by the Weimar Republic 's mark, derisively referred to as

4488-436: Was subdivided into 12 pfennig s, hence half a groschen into 6. After 1871, 12 old pfennig s would be converted into 10pf of the mark, hence 10pf coins inherited the groschen name and 5pf coins inherited the sechser name. Both usages are only regional and may not be understood in areas where a groschen coin did not exist before 1871. In particular, the usage of sechser is less widespread. In northern Germany

4556-472: Was the DM 20 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 DM 5, DM 500, and DM 1000 denominations on 27 October 1992. The DM 500, and DM 1000 denominations were rarely seen in circulation due to value and all were introduced in one step. With

4624-411: Was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the " Deutschmark " ( / ˈ d ɔɪ tʃ m ɑːr k / DOYTCH -mark ). One Deutsche Mark was divided into 100 pfennigs . It was first issued under Allied occupation in 1948 to replace the Reichsmark and served as

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