About Notgeld
Notgeld, or Emergency Money, was issued in times when either there was no 'Small Change' in circulation or inflation was phenomenally high.
Notgeld was not issued by the Reichsbank, but by Municipalities, Savings Banks or Private Firms.
The first issue of Notgeld was due to the shortage of small denomination coins. The value of the metal from which the coins were minted was higher than the face value of the coin, leading to the requirement for the Notgeld issue.
The second issue of Notgeld was to cope with the Hyperinflation that took hold in 1922. In this case, the face value of the Notgeld was up to Billions of Marks.
http://en.wikipedia.org/wiki/Notgeld
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