Notgeld

During the early 20th century special money was given out in Germany and Austria to cater for economic crisis situations. This money was not, as normally, issued by the central bank (Reichsbank), but by various other institutions, e.g. banks, municipalities, private and state-owned firms. It was therefore not a legal tender but rather a mutually accepted means of payment.

Notgeld was mainly issued in the form of (paper) banknotes.


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