20 Marts Reichsvant Banknote
$20
The introduction of the German mark in 1873 was the culmination of decades-long efforts to unify the various currencies used by the German Confederation. The Zollverein unified in 1838 the Prussian and South German currencies at a fixed rate of 1 Prussian thaler = 1+3⁄4 South German gulden = 16.704 g fine silver. A larger currency convention in 1857 replaced the Prussian thaler with the Vereinsthaler of 16+2⁄3 g fine silver, equivalent to 1 North German thaler, 1+1⁄2 Austro-Hungarian florins, or 1+3⁄4 South German gulden.
Unification to this system proceeded further due to German Unification in 1871 as well as monetary conventions from 1865 to 1870 expressing a desire to move to the gold standard. For this system a new unit mark was proposed equal to a drittelthaler or 1⁄3 Vereinsthaler, also equal to 1⁄2 the Austrian gulden, but decimally divided into 100 pfennig instead of the existing 120 pfennig. Combined with a gold-silver ratio of 15.5, the new mark of 5+5⁄9 g fine silver was therefore equivalent to 100⁄279 g fine gold. With 5 billion gold francs (equivalent to 4.05 billion gold marks) secured from France at the end of the Franco-Prussian War, the new currency was launched in 1873 in the form of gold 10-mark and 20-mark coins as well as limited legal-tender silver marks and copper pfennigs. The German Empire's conversion to the gold standard led to the same being adopted in the rest of Europe and North America, as well as the change in standard in the Latin Monetary Union from bimetallism to solely gold.
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