German Banknotes
From the early issues of the German Reich to the banknotes of the Weimar Republic, the hyperinflation period and the post-war years.
Explore by period →Illustrated historical collection
Banknotes and Notgeld from Germany and Austria
A journey through European monetary history through historic banknotes, emergency money and the currency of the hyperinflation period. Explore the collection by country, city and historical period.
Three ways to start
Explore the collection
The collection includes German state banknotes and local Notgeld issues. Each banknote tells the story of a city, a historical period and an economic transformation.
German Notgeld
Emergency money issued by German towns and communities. The collection can be explored by locality.
Explore the towns →
Austrian Notgeld
Discover Austrian local emergency-money issues and their links with the country's social and monetary history.
Explore the collection →Monetary history
What is Notgeld?
The German word Notgeld means “emergency money”. These local issues were used during periods of monetary shortage, especially during the First World War and the years immediately following it.
Many notes feature landscapes, buildings, legends, local traditions and historical events. They are therefore historical documents as well as collectable objects.
View the catalogue by locality
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Understanding historic banknotes
Introductory resources about scripts, watermarks, classification and other features of historic banknotes.