From 1914, the value of the Mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency was stabilized in November 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1 trillion (1012) Papiermark = 1 Rentenmark. Later in 1924, the Rentenmark was replaced by the Reichsmark.
In addition to the issues of the government, emergency issues of both tokens and paper money, known as Kriegsgeld (war money) and Notgeld (emergency money), were produced by local authorities. The Papiermark was also used in the Free City of Danzig until replaced by the Danzig Gulden in late 1923. Several coins and emergency issues in papiermark were issued by the free city. [Wikipedia]
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