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1934E German Third Reich Silver 2 Reichsmarks (1st anniversary)

Obverse
Reverse

General

Type: German Third Reich Silver 2 Reichsmarks (1st anniversary)
Origin: Germany Cat. Num.: KM# 81
Era / Ruler: Third Reich Face Value: 2 Reichsmarks
Issued from: 1934 Issued until: 1934
Alignment: Desgr. / Engr.:
Subject: 1st Anniversary - Nazi Rule March 21, 1933
Obverse: Eagle divides dates, denomination below
Reverse: Potsdam Garrison Church

Issue

Year:
1934E
Mint: Muldenhutten
Mintage: 373,000
Scarcity:
(URS20)
Valuation:
Notes:
Grades & Prices Available 
NONE AVAILABLE

Specifications

Composition: Silver
Fineness: 0.6250
Weight(g): 8.0000g
Weight(Oz): 0.26 Oz
Net Content: 0.16 Oz (5.00g)
Bullion Value: $2.92
Diameter: 27.00mm
Thickness:

Description

The Reichsmark was introduced in 1924 as a permanent replacement for the Papiermark. This was necessary due to the 1920s German inflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was 1 RM = 1012 Papiermark (one "trillion" in US English, one "billion" in British English, German and other European languages, see long and short scales). To stabilize the economy and to smooth the transition, the Papiermark was not directly replaced by the Reichsmark, but by the Rentenmark, an interim currency backed by the Deutsche Rentenbank, owning industrial and agricultural real estate assets. The Reichsmark was put on the gold standard at the rate previously used by the Goldmark, with the U.S. dollar worth 4.2 RM.

In 1924, coins were introduced in denominations of 1, 2, 5, 10 and 50 Reichspfennig, and 1 and 3 Mark (not Reichsmark). The 1 and 2 Reichspfennig were struck in bronze, with the 5, 10 and 50 Reichspfennig in aluminium-bronze and the two highest denominations in .500 fine silver. In 1925, .500 fine silver 1 and 2 Reichsmark coins were introduced for circulation, along with the first commemorative 3 and 5 Reichsmark coins. In 1927, nickel 50 Reichspfennig coins were introduced along with regular-type 5 Reichsmark coins, followed by the 3 Reichsmark coin in 1931.

Production of silver 1 Reichsmark coins ended in 1927. In 1933, nickel 1 Reichsmark coins were introduced, and new silver 2 and 5 Reichsmark coins were introduced which were smaller but struck in .625 and .900 fineness so as to maintain the amount of silver. Production of the 3 Reichsmark coin ceased altogether. In 1935, aluminium 50 Reichspfennig coins were introduced, initially for just the one year. The nickel coins continued to be produced up to 1939. From 1936 on, all coins except the 1 Reichsmark and the first version (1935?36) of the 5 Reichsmark coin (bearing the image of the late Reichspräsident Paul von Hindenburg) bore the Nazi insignia.

Value Range 

Year Mintage G F VF EF AU UNC BU PROOF
1934E 373,000 $5.00 $9.00 $18.00 $42 $65 $110 $140 $275

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