German banknotes: October 1923

An economic collapse in value such as that experienced in 1923 is difficult to imagine. From 1 to 15 October four new banknotes were issued: 10,000,000,000, 20,000,000,000, 50,000,000,000 and 200,000,000 marks.

If a German wanted to buy one US dollar on 1 October, he had to pay 20,000,000,000 marks.

Only two weeks later he had to pay 100,000,000,000 marks for one US dollar.