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Description
The listing, 1920 Notgeld 25 Pfennig Benneckenstein Germany has ended.
Uncirculated. Mint Condition. Collector Quality. Free shipping. Notgeld (German for "emergency money" or "necessity money") was special money issued primarily in Germany and Austria to deal with economic crisis situations such as a shortage of small change or hyperinflation. It was not issued by the central bank (Reichsbank) but by various other institutions, e.g. town savings banks, municipalities, private and state-owned firms. It was therefore not legal tender, but rather a mutually-accepted means of payment in a particular locale or site.
Questions & Comments
After WW1 Germany was split up into states. Inflation was caused because of the cost of war.