Proof of Story: Your Money Expired

This item represents a special type of German Notgeld with expiration time. The term "Notgeld" translates to "emergency money" in English, reflecting its purpose as a means of exchange during times of financial crisis. Because of all discussions about so called Central Bank Digital Currencies, we decided to cover similar known topic from Weimar Times in Weimar Artifacts project. The interesting thing is that of course, this item of Notgeld with expiration was privately-issued. The government normally has the power to ignore time frames and simply debase money while preserving purchasing power in a specific interval may be the best interest of private entity.

The hyperinflation reached its peak in 1923, leading to a situation where the value of the German mark was rapidly depreciating, and people needed increasingly larger amounts of money to buy everyday items. In response to this, many local governments, municipalities, and private institutions issued their own forms of currency, the Notgeld, as a way to maintain some semblance of economic stability on a local level. From "Great Inflation: Germany, 1923" by William Guttman and Patricia Meehan we can read:

In 1922 it (issuance of Emergency Money) rose to 1,295 milliards, and, in October 1923, reached the sum of 25 trillions. By the middle of November 1923, it had risen to 92 trillions, and at the same time the total amount of all kinds of emergency "Money in circulation topped the figure of 500 trillions.

These Notgeld notes were often very creatively designed and varied widely in appearance, featuring intricate artwork, unique designs, and sometimes even unusual materials. They came in various denominations, catering to different purchasing power levels. Notgeld was sometimes issued as paper bills, but it could also take the form of tokens, coins, or other objects that held a recognized value within a specific region.

References to the significance of German Notgeld from 1923 can be found in historical and economic literature. In addition to Guttman piece which is very rare, we have authors like Adam Fergusson who frequently uses Guttman as for reference in "When Money Dies".

In summary, German Notgeld from 1923 was a unique form of emergency currency issued by local authorities and private entities during a period of hyperinflation in Germany. These creatively designed notes and tokens served as a practical means of exchange in the face of rapidly depreciating national currency.