FREE: 200000 Mark 1923 Berlin -Crisis banknote

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200000 Mark 1923 - Hyperinflation in the Weimar Republic

The Weimar Republic (German: Weimarer Republik is an unofficial, historical designation for the German state as it existed between 1919 and 1933. The name derives from the city of Weimar, where its constitutional assembly first took place. The official name of the state remained Deutsches Reich, unchanged since 1871. In English, the country was usually known simply as Germany.
In 1919, one loaf of bread cost 1 mark; by 1923, the same loaf of bread cost 100 billion marks.
Since striking workers were paid benefits by the state, much additional currency was printed, fuelling a period of hyperinflation. The 1920s German inflation started when Germany had no goods to trade. The government printed money to deal with the crisis; this meant payments within Germany were made with worthless paper money, and helped formerly great industrialists to pay back their own loans. This also led to pay raises for workers and for businessmen who wanted to profit from it. Circulation of money rocketed, and soon banknotes were being overprinted to a thousand times their nominal value and every town produced its own promissory notes; many banks and industrial firms did the same