Coin Act (German Empire)
| Basic data | |
|---|---|
| Title: | Coin Act |
| Type: | Imperial Law |
| Scope: | German Empire |
| Legal matter: | Mint right |
| Original version from: | July 9, 1873 ( RGBl. P. 233) |
| Entry into force on: | July 29, 1873 |
| Last revision from: | August 30, 1924 (RGBl. II p. 254) |
| Entry into force of the new version on: |
October 11, 1924 |
| Last change by: |
Art. 1 AA of July 5, 1934 (RGBl. I p. 574) |
| Effective date of the last change: |
July 7, 1934 (Art. 3 sentence 2 G of March 24, 1933 , RGBl. I p. 141) |
| Expiry: | June 20, 1948 (§§ 1, 2, 26 G of June 20, 1948, WiGBl. Supplement No. 5 p. 1) |
| Please note the note on the applicable legal version. | |
After the founding of the empire in 1871, eight different national currencies hindered trade and traffic between the member states in the German Empire. There were a total of eight national currencies with dollars , Vereinstaler , Konventionstaler , cruisers , Heller , penny , pence , Neugroschen , Gulden , convention florins , shillings , Mark , Pfennig , New penny , Francesco , centime , Bremer gold coins , Groten , Schwaren , Prussian or Graumann shear Reichstaler , Kuranttaler , Friedrich d'or , which were based on different gold and silver contents in their coins and made trade difficult.
Therefore, Kaiser Wilhelm I adopted the first monetary union in the German Empire .
By the law of December 4, 1871, the gold content of the new common currency "Mark" was determined with the Reichsgoldmünze and this was applied to all national currencies by the Minting Act of July 9, 1873. The mark was introduced on January 1, 1876 throughout the entire Reich.
An amendment to the Coin Act was dated June 1, 1909, but with the beginning of the First World War the gold cover was suspended and finally abolished at the end of the war in 1918. The initially gold-backed mark degenerated into worthless paper marks by November 15, 1923 , due to unaffordable reparation payments by the Weimar Republic during the hyperinflation .
During the currency reform in 1923, the new currency, Rentenmark, was based on material assets that were measured in gold marks (corresponding to 1/2790 kg of gold) according to Section 6. On August 30, 1924, the Reich government decided to liquidate the Rentenbank in favor of a new Reichsbank; the new currency, the Reichsmark, should again have gold backing (Coin Act 1924). De facto gold coins denominated in Reichsmarks were never minted and the Rentenmark banknotes were never withdrawn from general payment transactions in the Third Reich.
In fact, in 1938 all Reich gold coins were declared invalid and withdrawn.
Formally, the Coinage Act of 1924 was only valid when the currency law of 20 June 1948 ( WiGBl. Supplement No. 5, sent. 1) in the three western occupation zones the currency reform to the German mark was completed.
Web links
Individual evidence
- ↑ RGBl. 1871, pp. 404-406 of December 4, 1871
- ↑ Coin Act and RGBl. 1873, pp. 233-240 of July 9, 1873
- ↑ RGBl. 1875 p. 303 of September 22, 1875
- ↑ Coin Act RGBl. 1909, pp. 507-512 of June 1, 1909
- ↑ Establishment of the Rentenbank, RGBl. I 1923, pp. 963-966 of October 15, 1923
- ^ Liquidation of the Rentenbank, RGBl. II 1924, pp. 252-254 of August 30, 1924
- ↑ Banking Act RGBl. II 1924, pp. 235-246 of August 30, 1924
- ↑ Coin Act RGBl. II 1924, pp. 254-257 of August 30, 1924 , amended RGBl. I 1934, pp. 507-508 of July 5, 1934
- ↑ Discontinuation of the Imperial Gold Coins, RGBl. I 1938, p. 901 of July 16, 1938
- ↑ Obligation to deliver all gold coins, RGBl. I 1938, p. 902 of July 16, 1938
- ^ Currency reform June 20, 1948
