A phenomenal issue of Danzig guilders, now a symbol of the rarest banknotes of the Free City of Danzig of the interwar period.
To understand the essence of the rarity of these banknotes, it is necessary to refer to the overall monetary circulation of the time in the Free City of Danzig, established on November 15, 1920. The role of legal tender at the time was played by German marks and local substitute issues of the city magistrate. The decision to issue its own currency was enacted by the Senate of the Free City in late 1922. The introduction of new money into circulation, however, fell at an unfortunate time for Danzig. The crisis of the post-war years and pervasive inflation did not bypass the Free City either. In less than a year, 17 different issues of banknotes were issued in the Free City of Danzig. They began on October 31, 1922 with denominations of 100 and 500 marks, and ended on October 11, 1923 with 5 and 10 billion mark bills!
Part of the stabilization efforts in the WMG was the establishment of a Central Bank on October 19, 1923. Danzig Central Bank, which introduced the new transitional guilder currency as early as October 22, 1923. The deadline for the final exchange of all existing Danzig mark banknotes was set for November 20, 1923.
The new transitional currency consisted of banknotes in thirteen denominations, starting with 1 fenig, up to 100 guilders. The transitional issue was indeed provisional, as can be seen at first glance from its simplified layout and one-sided printing. It could not remain in circulation for long if only for the threat of counterfeiting. Once the economic situation and the money market in the WMG area had stabilized, it was to be quickly exchanged for coins and banknotes of a new design. The introduction of the new final guilder currency was handled by the Bank of Danzig, established on February 5, 1924. The exchange was carried out remarkably smoothly, finally withdrawing transitional issue banknotes from circulation on April 30, 1924.
The 50 guilder banknote was put into circulation on December 15, 1923. This was a very high denomination in a city ruined by crisis and inflation at the time. Most of the daily demand was covered by denominations of up to 1 guilder. High denominations were probably not issued to the market much, and those that were issued, due to their high purchasing power, were quickly and scrupulously exchanged for money of a new design, which was introduced in the WMG as early as mid-March 1923. At that time, a forgotten fennig could be left in the drawer, but no longer a guilder, much less a multiple of it.
The entire exchange had to be carried out very efficiently. Today, except for the 1-fenig denomination, the remaining bills of the interim issue are very rare, and the high denominations are even unique. The meticulous exchange process and the order prevailing in the Bank of Danzig at the time are also evidenced by the fact that after the exchange there were virtually no pieces left on the market, even pieces withdrawn from circulation, with the Ungültig stamp, which are also among the enormous rarities.
Pieces with the UNGÜLTIG stamp on the obverse. The highest rarity among issues of the Free City of Danzig.
A few fractures and small tears on the right edge. Natural paper, not subjected to conservation.
Rarely can a collection boast the possession of this value.
Definitely recommended!
