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20 Deutsche Mark
| Issuer | Deutsche Notenbank |
|---|---|
| Year | 1948 |
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| In circulation to | 24 July 1948 |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 20 Reichsbanknote Zwanzig Reichsmark Ausgegeben auf Grund des Bankgesetzes vom 30. August 1924. Berlin, den 22. Januar 1929 Reichsbankdirektorium -20- 1948 (Translation: Reichsbank note Twenty Reichsmark Issued on the basis of the bank law of August 30, 1924. Berlin, January 22, 1929 Reichsbank Directorate) |
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| Reverse lettering | 20 Reichsmark 20 20 Reichsbanknote 20 Wer Banknoten nachmacht oder verfälscht oder nachgemachte oder verfälschte sich verschafft und in Verkehr bringt wird mit Zuchthaus nicht unter zwei Jahren bestraft. (Translation: Whosoever copies or falsifies banknotes or acquires copied or falsified banknotes or brings them into circulation will be punished with imprisonment for not less than two years.) |
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| Comments |
The Deutsche Notenbank was the central bank of the Soviet occupation zone, and this 1948 issue preceded the formal establishment of the DDR by a year. The note was part of the currency reform that the Soviet authorities pushed through in response to the Western Allies' June 1948 Deutschmark introduction — a direct monetary countermove that hardened the division of Germany into two separate economic systems.
With just over twelve million printed, the run was modest. Eastern zone residents were permitted to exchange only limited quantities of old Reichsmark at par, with the remainder converted at punishing rates.