German banknotes 1924–1928

At the beginning of January 1924 the new currency reform came into force: 1,000,000,000,000 old marks were equal to one new mark.

Because the new law could not be implemented quickly by the German central bank, a new series of banknotes denominated in the old marks was still issued in February 1924.

The new mark was called the Rentenmark (RM); according to the original account, German land served as security for the new banknotes.

During 1924 the new notes printed by the central bank circulated alongside the old-mark notes issued in February.