Author Topic: Coinage of the German Democratic Republic  (Read 783 times)

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Offline <k>

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Re: Coinage of the German Democratic Republic
« Reply #30 on: November 07, 2019, 06:10:58 PM »




A second circulating 5 M coin (Cu 620 Zn 200 Ni 180) was first minted in 1971.

The reverse design shows the Brandenburg Gate in Berlin.

The Brandenburg Gate which was right on the sector border between West and East but located in East Berlin.

The text around the gate says “Berlin” at the bottom and “Hauptstadt der DDR” at the top.

This 5 Mark coin was minted annually until the end of the regime in 1990.



Side note: This “capital of the GDR” was an official term, and most of the GDR government was in (East) Berlin. West Berlin had close ties to the Federal Republic of Germany and used the “Western” DM, but it had a more complex political status. For instance, West Berlin had its own senate and West Berliners could not vote in the general elections of the Federal Republic. It was an occupied city, and the citizens were not allowed to have their own military, therefore there was no military conscription in West Berlin, though the West Berlin police were allowed to carry guns.

Offline <k>

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Re: Coinage of the German Democratic Republic
« Reply #31 on: November 07, 2019, 06:21:29 PM »
These final circulation coins stayed in use until the end of the GDR. However, as far as money is concerned, specifically coins, that “end” was a fairly long phase:

* On 9 November 1989 the Berlin Wall (built by the GDR in 1961) and the similarly "secured“ border between the Federal Republic and the GDR were opened.

* On 1 July 1990, the Deutsche Mark (of the Federal Republic) also became the currency of the GDR. The "Mark“ denominations lost their value and had to be exchanged into DM.

* On 3 October 1990, the states of the GDR joined the Federal Republic of Germany.

* On 1 July 1991, the Pfennig denominations lost their value; pieces still in circulation (in the eastern states) had to be exchanged.

Offline <k>

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Re: Coinage of the German Democratic Republic
« Reply #32 on: November 07, 2019, 06:47:42 PM »
- When visitors from the Federal Republic went to the GDR (including day trips to East Berlin), they had to exchange money at a 1-1 rate between December 1964 and December 1989. That was an amount of 25 DM per person and day - and a convenient source of income for the GDR regime.

- There were stores in the GDR where people could buy "luxury items“ (which could include quality coffee or perfume) but where the Mark was worthless. Those stores accepted the Deutsche Mark (West) only, or certain DM-based cheques. These places could be used by visitors from West Berlin and the Federal Republic; GDR citizens could buy there if they had the "right“ money.

- The exchange rate in 1990 was mostly 1-1 for political reasons. So for 100 Mark (GDR) one would get 100 Deutsche Mark (Fed.Rep.). Deposits on bank accounts exceeding 2,000 M however were exchanged at a 2-1 rate. Now people above 60 could exchange up to 6000 M into DM at the 1-1 rate.

Back to coins – in the Federal Republic of Germany, all Federal Republic coins that are not legal tender any more can (with one exception from the early 1950s) still be redeemed at face value. That does not apply to coins from other German countries (Deutsches Reich, Saarland, and also the GDR), however.

Offline <k>

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Re: Coinage of the German Democratic Republic
« Reply #33 on: November 08, 2019, 06:23:43 PM »



Here you see how the coins of the final series looked together.

Only the circulation 5 Mark coin is missing.

Offline <k>

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Re: Coinage of the German Democratic Republic
« Reply #34 on: November 08, 2019, 06:24:53 PM »
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