Collection › Germany › #200
20 Mark
P-P-57
Needs review
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Where & when
What's on the note
Front: Darlehnskassenschein (loan bank note) issued to finance World War I. The note features two female allegorical figures representing aspects of German industry and commerce in profile medallions on the left and right sides, with the Imperial German eagle (Reichsadler) appearing twice at center. The text 'Berlin, den 20 Februar 1918' dates this issue to February 20, 1918, during the final year of WWI. These emergency wartime notes were issued by the German Reichsschuldenverwaltung (Imperial Debt Administration) to supplement the Reichsbanknotes and meet the enormous financing needs of the war effort.
Back: Two allegorical figures flanking the central denomination: on the left, a male figure representing labor or industry holding tools; on the right, a female figure representing Germania or agriculture holding a sheaf of wheat. Above the central '20' is the Imperial German eagle (Reichsadler) with spread wings. The intricate Gothic-style borders and lettering reflect the artistic style of German banknote design in the Imperial period. The serial numbers appear in red at the bottom corners.
How it was made
Signatures: Lütt; Dietwars; Milstan
Security features: raised_print,microprint
Germany in Europe
Germany in Europe. Other countries on the same continent shown in muted grey.
Background & history
The Darlehnskassenscheine were emergency loan bank notes issued during World War I (1914–1918) and its aftermath to supplement the circulating currency and help finance Germany's massive war expenditures. They were authorized by the Reichstag and issued by the Reichsschuldenverwaltung (Imperial Debt Administration) rather than the Reichsbank. The February 20, 1918 issue date places this note in the final months of WWI, when Germany was approaching economic collapse. These notes circulated alongside Reichsbanknotes until the hyperinflation crisis led to their replacement by the Rentenmark in 1923–1924. The elaborate allegorical imagery reflects the Imperial German artistic tradition, with classical figures representing German virtues and industrial strength.
Collector references
How it came to me
Note shows circulation wear with center fold, some staining on paper, and edge wear. Design remains clear with good color retention.
What it's worth now
Valuation history (1)
| date | low | high | currency | source | note |
|---|---|---|---|---|---|
| 2026-05-08 17:16:55 | 5.0 | 15.0 | USD | ai | from claude-sonnet-4-5 |
History & extractions
AI extractions (3)
Edits & decisions (0)
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