Rentenmark

Rentenmark

A temporary currency in Germany in the 1920s. It was introduced in 1923 as part of a successful effort to end the hyperinflation suffered by the papiermark. While it was not pegged to gold as the goldmark was, it was backed by mortgages on real estate and industrial infrastructure. For this reason, the rentenmark effectively served as a bond that was used as currency. The last rentenmarks matured in 1948 but in 1924 the Reichmark became legal tender and was used for most purposes.