Sunday, July 27, 2014

1950-2001 1 Pfennig Deutscher Lander FACT

Currency reform of June 1948

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The Deutsche Mark was introduced on Sunday, June 20, 1948 by Ludwig Erhard. The old Reichsmark and Rentenmark were exchanged for the new currency at a rate of DM 1 = RM 1 for the essential currency such as wages, payment of rents etc., and DM 1 = RM 10 for the remainder in private non-bank credit balances, with half frozen. Large amounts were exchanged for RM 10 to 65 Pfennig. In addition, each person received a per capita allowance of DM 60 in two parts, the first being DM 40 and the second DM 20.

A few weeks later Erhard, acting against orders, issued an edict abolishing many economic controls which had been originally implemented by the Nazis, and which the Allies had not removed. He did this, as he often confessed, on Sunday because the offices of the American, British, and French occupation authorities were closed that day. He was sure that if he had done it when they were open, they would have countermanded the order.

The introduction of the new currency was intended to protect western Germany from a second wave of hyperinflation and to stop the rampant barter and black market trade (where American cigarettes acted as currency). Although the new currency was initially only distributed in the three western occupation zones outside Berlin, the move angered the Soviet authorities, who regarded it as a threat. The Soviets promptly cut off all road, rail and canal links between the three western zones and West Berlin, starting the Berlin Blockade. In response, the U.S. and Britain launched an airlift of food and coal and distributed the new currency in West Berlin as well.

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Related To: 

Germany - 1 Pfennig
Germany








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1968-1999 - Elizabeth II - Canadian Quarter FACT

1973 Canadian 25 Cent Small vs Large Bust

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1973 Canadian 25 Cent
Small Bust vs Large Bust
(The Mountie Quarter)


There are very slight variations between them. These variations are somewhat noticeable in the Queen's hair. The hair on the (small bust) piece shows more detail than the hair on the (large bust) piece.
Referenced From CoinQuest.com


Coin Varieties:

Being a 1 year type coin one would not expect any major varieties to exist but one does. These varieties exist due to two different obverse dies that were used. A new design with a smaller bust of Queen Elizabeth II was to be used but some coins were minted with an older obverse die giving way to a large bust variety.

One way to tell them apart is by the circle of beads surrounding the design. Some reference books may refer to them as Large Bust (132 beads) and Small Bust (120 beads). But, to count the number of beads will make you cross-eyed after awhile so we highly recommend that you not do this! Instead, the easier way to identify the difference is by simply looking at how close the beading is to the edge or rim of the coin. Large bust beading is extremely close to the rim while small bust design has beading that is further away from the rim.

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Related To: 

Canada - Twenty Cents
Canada








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