AACHEN
Coinage began with Charlemagne and continued more or less uninterrupted
until 1801. Pretty much all pds except late dates of the copper 12
hellers, and they're reasonably common in low grade. 18th century
small silvers are occasional oats, but larger silver and gold doesn't appear.
I've never seen any high grade Aachen material.
AALEN
Never seen any.
ANHALT-BERNBERG
The duchy of Anhalt was ruled by an offshoot of the House of
Saxony. Rare bracteates issued 12th century. Ducal coins of
Bernberg issued from the 17th century. Odd examples of any 16-18th
century denomination are occasional oats. Bear coins are popular
and not all that easy to find, thus I feel that the cheap 18th and early
19th century bear coppers are underpriced in the catalog. Same is
true of the Zollverein coinage of 1839-67, not so common. Gold is
rare.
ANHALT-BERNBERG-SCHAUMBURG-HOYM
Difficult or impossible outside of Germany?
ANHALT-COTHEN
The line emerged at the start of the 17th century. Same
comments as A-Bernburg above, except that A-Cothen coins are at least twice
as scarce.
ANHALT-DESSAU
This is the culmination of the Anhalt line. 19th century
thaler denominations are pds.
ANHALT-ZERBST
Well, I've actually had some coppers, and actually in nice condition.
Oh, never mind. The coins are all pds, worth every penny you have
to pay for them.
ARENBERG
Never had any.
AUGSBURG
Charlemagne coined there. The bishops began striking 10th
c. continuing through 1775. Free City coinage began 16th c.
Augsburg is a popular location and its coinage gets a premium for that
reason All Ausburg money is pds. I've seen a lot (3 or 4) of
the thalers with various types of "problems" such as mount marks, tooled
fields, gilding, and the dealers always want an arm and a leg for them
anyway.
BADEN-BADEN
The Baden line got started 12th c. The Baden and Durlach
lines separated in the 17th. They were united in 1771 under a Durlach
and remained so until the last of the line was expelled after World War
I. First coins are 14th century hellers. The output at Baden-Baden
was rather modest through the early 18th century, and all coins are scarce.
BADEN-DURLACH
The Durlachs struck their first coins in the 16th c., and these
are as scarce as their Baden-Baden counterparts. By the 18th century
however the Durlachs had a better economy going, and there are a lot more
coins available for us to buy. They don't really get common until
the next century, but you can probably find some if you look while a similar
search for Baden-Badens will come up empty.
What is described in the SCWC as "United Baden Line" is just
the Durlachs after they obtained Baden-Baden. Copper and billon small
coins are common and turn up all the time in all grades up to AU for the
copper and BU for the billon. Big silver and gold are expensive,
but they're worth it, because they're rare.
BAMBERG
First coins 11th c. Early medieval coinage is slightly
more common than many other mints. Low grade 18th century coppers
do occur, but silver and gold are pds.
BAVARIA
The second most common state after Prussia. All ages and
all values of Bavarian coins are a lot more common than contemporary issues
of most other states. They show up in high grade back into the 17th
century. Low grade 18th century thalers are easy to buy (and hard to sell).
There is that large series of commemoratives, some of which are available.
Bavarian gold too is more common, if not necessarily cheaper, than that
of it's contemporaries.
BENTHEIM-TECKLENBURG-RHEDA
Bentheim had its own coinage from the 14th century. Rheda
in Tecklenburg had a municipal coinage in the 17th century. Both
series are pds, as are the united coins of the 18th century.
BERG
All very scarce, including the low priced coppers.
BIBERACH, BIRKENFELD, BOCHOLT
Pds.
BRANDENBURG-ANSBACH
First coins were bracteates, pds today. Later hohlpfennig
bracteates from Salzwedel have been available. In the 16-17th centuries
the Brandenburg Margraves were under the cultural and economic influence
of Poland at the height of its glory, and its coinage has both a Polish
look to it and a Polish type of availability and price structure.
Groschens, half schillings, etc. are common and make up a large part of
the coins in the market. B-Ansbach was granted to a Brandenburg younger
son in 1603. The normal range of coins was struck in billon, silver
and gold, and all are either oat or pds.
BRANDENBURG-BAYREUTH
First coins in the 17th century, line extinct 1769. Availability
as B-Ansbach, but less oat, more pds.
BRANDENBURG ANSBACH-BAYREUTH
These are the coins issued by Prussia during the Napoleonic period.
I don't think they're common.
BRAUNAU
Hitler's birthplace (to add to the price pressure). Coins
are rare.
BREMEN
First church coins 9th c., continuing until the Reformation when
the archbishop was expelled. The city coinage dates from the 14th
century: wittens and so forth. It's a somewhat available oat location,
which is good because people like the key on the escutcheon. Silver
coins in nice condition (and gold of course) are pds.
BRETZENHEIM, BRUNSWICK-BLANKENBURG
Pds.
BRUNSWICK-LUENEBURG-CELLE
Coppers are scarcish oats, silvers are pds.
BRUNSWICK-LUENEBURG-CALENBURG-HANNOVER
Though still oats, the coins are easier to find in general than
most other states. The three main types: wildman, St. Andrew, and
the leaping horse are all very popular, but enough are around to keep prices
reasonable. Even the gold is more common.
BRUNSWICK-WOLFENBUTTEL
Same comments but more so. I'd say the 19th century coppers
verge on common.
BUCHHORN, CLEVES, COESFELD
All pds.
COLOGNE
Of course the Romans coined here, and from that time through
the 17th c.Cologne money is among the most frequently found of the coins
of Germany proper. First the archbishops and later the city fathers
did good business and supported large issues of trade coinage. Low
grade is the rule, these coins went places. I actually find that 15-17th
c. coins are easier than the 18th c. stuff. That makes sense, as
by that time the city's golden age was past. The Free City issued
what I think is the last bracteate hohlpfennig in 1792 (KM-445 and pds).
CONSTANCE, CORVEY
Pds, but as with cologne, 16-17th c. material is somewhat more
available.
CRAILSHEIM
Never seen one.
DORTMUND
About the same as Constance, no, about 30% better.
E. FRIESLAND
Scarcish oats.
EICHSTADT
A very long history as a minor ecclesiastic mint. All coins
pds.
ELLWANGEN, EMDEN, ERBACH, ERFURT, ESSEN, ESSLINGEN, FRANCONIAN CIRCLE
Pds.
FRANKFURT
Coins were struck by the Carolingians. City coinage began
in the 14th c., continuous until 1866, when the city was taken by Prussia.
Early coins are not so easy to find. From the 17th c. the coins become
increasingly common. Kreuzers of the late 18th c. are reasonably
available. So are the early 19th c. coppers and the thalers and double
thalers of the 1860s. The so-called "Jew pfennigs" can also be found.
(Everyone knows these were general use tokens and not an ethnic thing,
right?)
Gold coins too are findable.
FRIEBERG, FREISING, FRIEDBERG, FUGGER
Pds.
FULDA
One actually does find Fuldan coins on occasion. The most
common are scarce oat coins.
FURSTENBERG
Pds.
FURTHER AUSTRIA
18th century coppers are occasionally found. Billons are
pds.
GOSLAR
First coins in 11th c. All coins are pds.
HALLE (in Swabia)
First coinage in 12th c. . The medieval "handelshellers"
are far more common than any later coinage. 18th c. issues are pds.
HAMBURG
One of the most common locations. You will find hohlpfennig
bracteates of the 13-14th c. through the schillings of the 17th c., all
the way up to unification. Some hoards of 19th c. small billons have
come to the market in AU-Unc. Large silvers are oats. Gold
is pds.
HAMM
Pds.
HANAU-LICHTENBERG, HANAU-MUENZENBERG
Several times in the last decade modest hoards of 17th c. groschens
in nice grade have come on the market. Later material is pds.
HANNOVER
City coins of the 14-17th c. are pds. Served as a mint
for Brunswick coinage 18th c. (oat). 19th c. coins are more available
and among them are some (late coppers, etc.) which are quite common.
Some high grade pieces have hit the market in recent years.
HEILBRONN
Issued rare medallic commemoratives only.
HENNEBERG
The Henneberg counts and their successors struck coins over a
long period. The chicken being a popular motif the coins are in demand.
Too bad they're all pds.
HESSE
First Hessian coins (pds) in 13th c. The Hesse line split
in 1567. Late 18-19th c Hesse-Cassel small coins are reasonably available,
though low grade is the rule. Silver coins are oats or pds.
The Darmstadt line was richer and struck more coins than the
Cassel line, so all types are more common. Hesse-Homburg issues are
all pds.
HILDESHEIM
First church coins 10th c. First municipal coins in 15th.
Nothing from Hildesheim is common, but you can usually find something within
a couple of months of starting your search.
HOHENLOHE
All the various permutations of this family's coinage are pds.
All were issued as demonstrations of the mint right and circulated only
incidentally.
HOHENZOLLERN
The Hohenzollern line branched in the 13th century. The
Hechingen and Siegmaringen lines went out of business in 1849. The
other line went on to become the kings of Prussia. All coins are
pds.
ISENBERG
First coins in 17th c. Pds.
ISNY
Location listed in Schon. Pds.
JEVER
First coins in 10th c. All pds.
JULICH-BERG
First coins in late 13th c., continuing sporadically until the
17th c. All the early stuff is pds. 18th c. ¬ stubers are
fairly common in low grade (and often corroded). Silver and gold
is all pds.
KAUFBEUREN, KEMPTEN, KNYPHAUSEN, KOENIGSEGG, LANDAU, LAUENBURG, LEININGEN
All pds.
LEITMERITZ, LEUTKIRCH, LINDAU
All from the Schon catalog. The first two issued medallic
gold. Lindau was a Free City and issued coins until 1712. All
very pds.
LIPPE-DETMOLD
First coins in 13th c. A somewhat scarce location.
Most common coins are 19th c. coppers in low grade.
LOWENSTEIN-WERTHEIM
Pds. I've had one Rochefort coin in my life.
LUEBECK
Church coinage began in the 12th c. and continued sporadically
until 1775. All pds. The Free City was an economic powerhouse
from the 12th century. Lubeck hohlpfennig bracteates are among the
more common types. Availability of Lubeck coinage is almost on a
par with that of Cologne through the end of the 17th c. 18th c. types
are somewhat scarcer.
MAINZ
First coins struck by Charlemagne. Ecclesiastic coins continued
in an unbroken series to the end of the 18th c. The archbishops spent
some money on their engravers so the artistic level was often high.
Odd examples are not impossible to find, but they're popular and expensive.
Siege coins of 1793 are available but always come in bad condition.
MANDERSCHEID (ex Schon), MANSFELD
Pds.
MECKLENBURG-SCHWERIN
First coins are 12th c. bracteates (pds). All the early
stuff is pds. The line split in 1701. The 18-19th c. small
coins are reasonably available, with high grades not unheard of.
Silver coins are much more difficult, and high grades are pds. Gold
is rare.
MECKLENBURG-STRELITZ
Availability is more or less equivalent to the Schwerin coins,
maybe a bit tougher, with not much in high grade..
MUHLHAUSEN
Pds.
MUNSTER
First coins are 11th c. (pds). Coinage remains pds until
the 17th c., billons of which period are mere oats. Many of the 18th
c. copper and billon types are available in low grade, with the "Cathedral
Coinage" probably most common. The big stuff is rare.
NASSAU
First coins in 12th c. Dynastic history is very involved,
with many hyphenated territorial groupings. Taken as a whole Nassau
coins are part of, let us say, the second tier of availability (Prussia
and Bavaria being the first). That is to say there are quite a few
oats.
NOSTITZ-RIENECK
Rare.
NURNBERG
Or Nuremburg if you will. First coins in 13th c.
The medieval stuff is pds. Odd oat coins of 16-18th c. Nuremberg
occur with some regularity. The town is famous for its city view
coins and the "lamb of God" type fractional gold. Examples of both
of these popular types are fairly readily available.
OETTINGEN
Pds.
OLDENBURG
Coinage more or less continuous from the 14th c. Medieval
stuff is pds. I haven't noticed a whole lot of 18-19th c. material
either, and most or all of it was in low grade.
OSNABRUCK
Episcopal coins from the 9th c. , All medieval are pds
in my opinion. The city used an interesting set of countermarks in
the 17th c., and these, along with the 18th c. coppers, are oats.
PADERBORN, PASSAU
Pds.
PFALZ
Coins of the various lines of the Palatinate date from the 10th
c. A few of the 18th c. small coins and thalers are rather scarce
oats. Everything else is pds.
POMERANIA
Pds.
PRUSSIA
Before 1701 this was Brandenburg. Prussian coins in general
are by far the most common of the "States" coins. This is true at
all levels from pfennigs through gold. The money circulated broadly
and average grade encountered is low. This is especially true for
the 18th c. Later 19th c. material is obtainable in top condition.
Prussian coins are so common that they used to be hard to sell. No
more. Now they sell like any other State, which is to say, very well
indeed.
PYRMONT. QUEDLINBURG
Pds.
REGENSBURG
Church coinage from the 10th c., city coinage from the 13th.
Medieval coins through the 18th c. can be found as oats. The coins
are popular. People like the keys.
REICHENAU
Another Schon entry of the early 18th c., pds of course.
REUSS-GREIZ
The Reuss (or "Russian") line got started in the 11th c. with
earliest coins in the 12th. All the early stuff is scarce.
All the rulers of all of the various branches were cutely named Heinrich,
and the numbers they bore were not necessarily consecutive. It's
extremely confusing. Later small coins are oats rather than pds for
this line.
REUSS-EBERSDORF, REUSS-GERA, REUSS-LOBENSTEIN, REUSS-LOBENSTEIN-EBERSDORF
Despite some low catalog values I'd say they're all pds.
REUSS-SCHLEIZ
A bit more available than the immediately preceding, but still...
pds.
RHENISH CONFEDERATION, RIETBERG
Pds.
ROSTOCK
First city coins in the 14th c. From the 17th c. the small
coins are scarcish oats. High grades are rare.
ST. ALBAN, SALM
Pds.
SAXE-ALTENBURG
Most of the subsidiary Saxon lines issued coins in moderately
large quantities. The small coins of this one are reasonably common,
but the big coins are pds.
SAXE-COBURG-SAALFELD
Not as common.
SAXE-COBURG-GOTHA
Availability is midway between the preceding and the one before.
SAXE-EISENACH, SAXE-GOTHA-ALTENBURG
Small coins of these 18th c. configurations are oats, usually
found in low grade. Larger silvers are pds.
SAXE-HENNEBERG-SCHLEUSING
Pds.
SAXE-HILDBURGHAUSEN
Availability on a par with Saxe-Eisenach, maybe a bit better.
SAXE-MEININGEN
Coinage dates from the 17th c. This is one of the common
locations, with later coppers available in high grade.
SAXE-SAALFELD, SAXE-WEIMAR
Pds.
SAXE-WEIMAR-EISENACH
Another fairly common location for small coins. A number
of Schön-listed 18th c. gold types are unlisted in the Standard Catalog.
SAXE-WEISSENFELS
This short lived line issued a number of KM-unlisted klippe style
square thalers in the late 17th and early 18th c., as well as some nice
looking gold. All are rare.
SAXONY
The dukes of Saxony contributed emperors and kings of Germany
in the middle ages. Many mints were active within their realms, and
many types were struck. The large output has led to a large survival
rate. Saxon coins are among the more commonly found pieces of the
12-15th c. The good availability hold ups through the 17-18th c.
Large silver of this period is, with Bavarian and Prussian types, among
the most common of the States. 19th c. small coins are common.
Considering their value, the large silver and gold are too.
SAYN-ALTENKIRCHEN, SAYN-HACHENBURG
Coins of the former are all pds. The latter county was
erected in 1623 and was eliminated in 1715. Two rare coins are listed
by Schon.
SCHAUMBURG-HESSEN
Earliest coins of Schaumberg proper date from the 16th c.
The county was divided in 1640. The Hessian government granted its
portion copper pfennigs from 1769 to 1832. Because of the unusual
escutcheon the coins are popular. But they are oats, and usually
low grade.
SCHAUMBURG-LIPPE
The Lippes took some pride in their part of Schaumburg and struck
a full range of coins from pfennig to gold. Small coins are oats.
Large coins are pds.
SCHLESWIG-HOLSTEIN
The Holsteins were established as a powerful line of counts in
the 12th c. The first wittens were made within their realm.
The duchy of Schleswig lay between the Holstein lands and Denmark, and
was for centuries contested by its two larger neighbors. Currently
Germany is the victor. We should probably call the place Holstein-Schleswig.
Basically I think that all the Holstein-Schleswig groupings are scarce.
I've had a few, low grade and hard to sell because of that. But only
a few.
SCHMALKALDEN, SCHOENAU
Pds.
SCHWARZBURG
The Schwarzburgs go back to the 8th c. They struck bracteates
in the 12th, and the normal range of coins through the ages. All
the early stuff is pds. In 1552 the line formed three branches: Arnstadt,
Rudolstadt, and Sonderhausen. All sruck coins. Arnstadt went
extinct in 1716, and all coins are rare. Rudolstadt is much more
available but still not that common. Sonderhausen coins are the same
except for the last copper small coins. These are oats and can be
found in high grade.
SCHWARZENBERG, SCHWEINFURT
Second is the Bavarian city listed in Schon. Both Pds.
SILESIA
Most of this territory is now in Poland and Czechoslovakia.
The Habsburgs struck there until 1740, then the Prussians. I have
noticed a steady stream of Habsburg small coins wandering through my inventory,
all low grade. Prussian coins are scarcer and usually look worse.
Big coins are pds.
SILESIA-WURTTEMBERG-OELS
Schon lists earlier Wurttemberg type coins for this place, which
he calls Wurttemberg-Oels-Bernstadt. All pds.
SINZENDORF, SOEST
Latter has coppers listed in Schon. All Pds.
SOLMS-LAUBACH
The Solms date from the 12th c. Their mint right was granted
in the 16th. 17th c. small coins of Solms-Lich are around.
The 18th c. Laubach coins are all rare and have the look of "pieces de
plaisir" for petty nobles.
SPEYER
Issued church and city coins from the 11-18th c, all pds.
SPRINZENSTEIN
Struck just a few rare types in 1705 and 1717.
STOLBERG
The counts got started in the 13th c. Stolberg had silver
mines, so output was good from the early bracteates through the thalers
and on into the 19th c. The stag motif seems to strike some deep
emotional chord in many people. The coins are intensely popular.
I believe it's this factor, rather than scarcity, which accounts for their
relatively higher catalog prices.
STRALSUND
Coins since the 13th c., all pds.
STRASBOURG
Charlemagne struck there. Early medieval church coins are
not totally impossible. Some 15-16th c. municipal issues are fairly
common. Later coins are rather scarce. The city is now in France.
STUTTGART
Schon has pictures of a few rare and beautiful gold klippes.
SWABIAN CIRCLE, TEUTONIC ORDER, THURN & TAXIS
Pds.
TRIER
Money was struck in this town from the 10th c. There are
a lot of types. I've had a few of the petermengers, even a few in
high (VF) grade. I still think they're all pds.
ULM
Pds.
WALDECK-PYRMONT
Earliest coins of the Waldeck counts are 13th c. bracteates.
The line meandered through several territorial configurations. Pyrmont
united with Waldeck in 1625. I know there are a few 19th c. coins
with low catalog values, but my feeling is that they're all pds.
WALKENRIED
Schon lists four rare coins of this abbey dated 1705 and 1717.
WALLMODEN-GIMBORN, WERDEN & HELMSTADT
Double plus pds.
WESTPHALIA
Everything relating to Napoleon is popular and this imperial
concoction fits the pattern. Many of the coins are quite available,
but grades tend to be abysmal.
WIED
The Wieds got started in the 11th c. but seem to have struck
very few coins until the 18th c. The line split in 1698 into the
Neuwied and Runkel branches. Both coined in the 18th c. I think
all the coins are pds.
WISMAR, WOLFSTEIN, WORMS
The second is represented in Schon by rare gold, the third by
3 rare commemoratives. Pds.
WUERTTEMBERG
One of the commoner states more or less on a par with Bavaria.
Some late small coins in Unc are running around.
WÜRTTEMBERG-OELS
Actually Schon lists for the 18th c. W-Moempelgard, W-Oels-Bernstadt
(KM = Silesia-Oels), and W-O-Juliusburg. I think this K-M designation
is Schön's W-O-J, though the listings are different. All pds.
WURZBURG
The bishops struck coins from the 11th c. You have a decent
chance of finding a medieval coin. 17-18th c coins are oats rather
than pds, though the grade usually leaves a lot to be desired.
KAISERREICH
At the beginning of the 19th century Prussia
and Austria were the two dominant German states. Prussia's constant
project was to kick the Habsburgs out of Germany proper and to unify Germany
under Prussian administration.
Most of the preliminary work of unification
was accomplished through annexation. By the 1860s Prussia had acquired
some two thirds of the territory of modern Germany. The remaining
states were reduced to sitting around waiting to see what Prussia would
do next.
In 1862 a conflict over military funding arose
between the Prussian War Ministry and the Diet. The king got involved
and it looked for a while as if he might abdicate. Instead he threw
caution to the winds and called Otto von Bismarck to head the government.
In 9 years Bismarck brought about unification
in Germany. His primary method was skillful use of the army.
He was a great man whose imprint is all over German culture. 1998
is the centennial of his death. Look for a coin.
The numismatic arrangements in the Imperium
called for a national currency and minor coinage. Large silver and
gold were reserved to the states, and 25 of them eventually made use of
the privilege.
The Imperial or Kaiserreich series has become
intensely popular these last couple of years. Ten years ago you could
still find unsearched lots of lower grade pieces. No longer.
Every decent Kaiserreich coin now has been looked at by someone else.
It is just like USA coins.
Prices for high grade and key material have
outstripped the SCWC listings for a many years now. There are plenty
of dealers who make a big chunk of their money buying German here and selling
it there. Buy at 70% of catalog, sell at 130%. Not too shabby.
I know. I've done some of it myself.
My guide to the Kaiserreich coins is simple
and straightforward. Use the SCWC for relative rarity. Use
European "high standard" grading (our AU is their XF, our XF is their VF,
if you can't see anything on the little shield on the eagle it's VG at
best). Add 30% to the price in XF or higher, 50% for Unc. Anything
over $100 should go in a German auction. Anything in VG or better
is worth at least 25¢. There, now you know what your Kaiserreich
coins are really worth.
Exceptions and notes. There are quantities
of late marks and half marks in Unc. Dates are generally 1914 and
'15 for the marks, 1917 and '18 for the halves, usually "A" mint, hardly
ever "J." These can often be found for less than SCWC prices.
Wartime zinc and iron coins are extremely rare in gem Unc. I think
there is no date for which the "A" mint is not the most common by far.
On to the States. Everybody wants these,
and high grades just fly right away. Unfortunately for Jane Q. Collector
many of these coins are so rare as to be practically unobtainable.
There are 169 silver types and 125 gold issued
by 22 princely holdings and 3 free cities. Of the silver probably
20 types are power coins, the kind that cost too much and all you can do
is go "Ooooh." Probably 20 more are never seen. Most were issued
to circulation, and are more often than not seen circulated.
Many of the gold coins are power items if
not very rare. For some reason the gold series is plagued with high
quality fakes of numerous types, mostly Prussian.
Proofs were made of more or less all dates
by all mints. You see them occasionally. They're all scarce
to rare.
STATE BY STATE
ANHALT
All scarce and rare
BADEN
Most of the silver types are easy enough to find, usually circulated.
Gold is pds.
BAVARIA
Third most common state after Prussia and Württemberg.
Even the gold is more available.
BREMEN
Pds.
BRUNSWICK
Pds.
HAMBURG
The silver is about as common as Bavaria. Gold is pds.
HESSE
Pds. There are two low catalog pieces, the 1904 2 mark
and the 1910 3 mark, but they're pds too.
LIPPE-DETMOLD
Only struck 2 coins, both pds.
LUBECK
These are popular coins. Despite some low prices in the
catalog, all pds.
MECKLENBURG
Pds (both of them).
OLDENBURG
Pds.
PRUSSIA
Ah yes. 9 out of 10 pieces are Prussian. Early issues
can be tough, especially in nice grade. Late issues, especially the
commemoratives, are plentiful in AU and easily available in Unc.
These had been common enough to trade at big discounts a few years ago,
but now their prices are fully inflated.
REUSS
Both very pds.
SAXE-ALTENBURG
Pds.
SAXE-COBURG-GOTHA
Pds.
SAXE-MEININGEN
Pds.
SAXE-WEIMAR-EISENACH
Despite some cheap listings, demand has made them all pds.
SAXONY
A lot of fairly common coins and one doozy (Reformation 3 mark).
SCHAUMBURG-LIPPE, THE SCHWARTZBURGS
Pds.
WALDECK-PYRMONT
Pds.
WÜRTTEMBERG
Both silver and gold are of equal availability with Bavarian
coins, excluding a few outstanding rarities.
THE WAR
The major numismatic product of the First
World War was notgeld. The dislocations of the time caused local
shortages of small change which were made up by these local emergency issues.
Notgeld was issued from 1914 to 1923. There are several hundred metal
types, several thousand in paper, and an odd smattering made of exotic
materials like coal and leather. Like all German material these are much
less common than they used to be, but there are a lot of very common notgeld
and an average circulated piece will still go for $2-3 after all these
years.
The iron military coins of 1916 are fairly easy to find in rusty
fine or so. I've never seen a perfect specimen, and I've never talked
to anyone who had ever seen a proof.
There is also a large series of prison camp
tokens. Collectors of these have recently been blessed by Lance Campbell's
wonderful reference. Some of these tokens are quite reasonable (though
the Austrian versions are, as usual, more reasonable).
WEIMAR REPUBLIC
By 1918 the war was lost. The Imperial
government collapsed and the Kaiser fled the country. A Republic
was established to preside over the mess.
The first coins of the new government were
new dates of the old Imperial types. There is the iron 5 pfennig,
10 pfennig types in iron and zinc, and the 1919 « mark. The
former are common enough as circulated types, but the silver coin is a
lot scarcer than the catalogs indicate.
Also in 1919 the Republic began issue of the
aluminum 50 pfennig series using the sheaf of wheat motif which was to
become a Weimar standard. These coins are common enough that most
will trade below catalog in Unc. They are among the few "Deutsches
Reich" coins which can still be located in quantity.
The next coins were the aluminum inflation
marks of 1922-23. These pieces, denominated 3, 200, and 500 marks,
all have rare mints, but the common ones are very common, still turning
up in junk boxes with some regularity.
At the end of 1923 a high value mark was forced
on the public. Everyone's capital disappeared, never to return.
This of course created a deep well of discontent which Hitler found himself
able to use a few years later.
The new denomination was called the rentenmark
(indicating its profitability in use) and was backed by gold. Renten
coins were issued in 1923-24, though a few rare mules exist for 1925 and
'29. Acquisition is not difficult by type, but top grades are elusive.
The tough type is the 50 rentenpfennig.
This is not merely due to its inherent moderate scarcity, but also because
it must stand duty in less well funded collections as a place holder for
the practically unobtainable 50 reichspfennig which succeeded it.
Rentenmunzen was replaced by Reichsmunzen
starting in 1924. The minor reichsmunzen types continued several
years into the Nazi period. These coins are still found in junk boxes
and often fill up several pages of dealers' browse-books. For each
minor type there is at least one date which is much more common than the
rest. AU types are easy. Gem uncirculated types can be found.
Silver coinage began in 1924 with 1 and 3 mark pieces.
The marks are common enough in low grade, but the 3s are tough in any grade.
Uncs of either are scarce.
The first "plain eagle" mark was replaced
with the "eagle with legend" design in 1925, and a 2 mark was added to
the circulation. The 2 is scarcer than the 1, but neither is too
hard to find in grades up to XF-AU. Choice Uncs are scarce.
In 1927 the nickel 50 pfennig was introduced.
This type persisted until 1938. It has some very common dates, but
not as common as the SCWC indicates. I've never heard of anyone selling
them for 25 or 50¢. If I get one with such a catalog price I
mark it up to $2.00 and sell it right away.
A similar eagle was used on the obverse of the oaktree 5 mark,
also introduced in 1927. These are not particularly common, and when
they do appear their condition is usually unsatisfying.
Then in 1931 a regular issue 3 mark was introduced.
These are scarce in circulated, rare in Unc.
Now what about those Weimar commemoratives?
Are they really such a popular series, such a good deal, a great investment?
Well, you have to admit it's a handsome, interesting series, worthy, I
think, of a somewhat detailed discussion. And the short answer to
the rhetorical questions posed above is "yes," but of course there are
some caveats.
The most important "yes-but" is that for investment
purposes the coins really have to be perfect. I mean perfect under
a 20x lens. Don't bother with MS-59 for this series. Your investment
coins have to be no-question-about-it perfect. These will be, to
say the least, hard to find.
The next caveat is that investors should concentrate
on perfect 5 marks rather than 3s, while the budget minded collector should
go for the 3s. Availability differential between the 3s and the 5s
are impressive, typically on the order of 5 or 10 to 1. Next time
you go to a medium sized or larger show look around for these coins.
You'll find lots (relatively speaking) of XF-AU 3 marks, maybe 1 or 2 5s.
Last caveat is that for each type struck at
more than one place there is one overwhelmingly common mint, usually "A."
The other mints, with a few exceptions (e.g. Zeppelin 3 marks), range from
very tough to killer.
Let's breeze quickly through the types.
RHINELAND - "common" 3m, commonest 5m (but that's not saying much).
LUBECK - 3m only, and pds.
BREMERHAVEN - both the 3 and the 5m are scarce to begin with, and the
ship motif increases the purchase pressure. Tough coins, and gems
are pretty much auction-only items.
NORDHAUSEN, MARBURG - Reasonably available scarce coins.
TUBINGEN - The portrait on these coins is overwhelmingly evocative
of the 17th century, and it's always showing up in the photo section of
big auction catalogs. They are premium coins. You'll never
find a cheap low grade example.
NAUMBURG - Scarce coin rarely seen better than AU+.
DURER - My analysis similar to Tubingen above. This coin perhaps
generates a bit less excitement when it appears but it's just as scarce.
DINKELSBUHL - A rare coin, seldom seen.
LESSING - Circulated examples of these are about as common as the Rhineland
coins, and not quite as popular. Scarce in Unc.
WALDECK-PRUSSIA - Available.
CONSTITUTION - One of the commonest of the Weimar commemoratives, and
most likely to be found in Unc.
MEISSEN - The 3 mark is not particularly common and the 5 mark is scarce.
Both are rare in Unc.
ZEPPELIN - 3 marks are very common in XF. 5 marks can be found
(in Germany, most likely). Most Uncs are soft.
VON DER VOGELWEIDE - Circulated examples are common.
RHINELAND - Fairly common in circulated.
MAGDEBURG, VON STEIN - Both are tough.
GOETHE - 3 marks are scarce. 5 marks are the keys to the series.
Investors: buy these coins in proof!
Someone dealing heavily in modern German coins told
me recently that over there they estimate that one in 5 people is going
through their pocket change to complete their booklets and a lot of them
will go on into a coin shop and buy something fairly regularly.
This growth of the collector base has been
going on for decades. I don't know about the numbers but I can testify
that even here across the ocean the buying pressure is sensible.
I have no idea why it is so. But it is. My numerous German
clients have been strong buyers of my high end material and I strive always
to make them happy.
NAZIS
Nazi coins seem to be a lot more popular with
American collectors than with Germans. I have worked with several
Americans to complete type sets (they always stop before they get to the
Schiller 5m). For a long time I held a belief that Germans just did
not buy them. Then finally this year (1994) I sent one (a "good"
one) across the Atlantic. So now I can't say that.
I won't go into the history of the Nazi seizure
of power (though some might care to disagree with the word "seizure" citing
the various elections up to 1936). Nor will I discuss the various
sad and disgusting things they did. i'm just going to deal with the
coins.
The first Nazi issues were the commemoratives
for the 450th birthday of Martin Luther. The coins were only a trifle
lighter than the Weimar coins, but the silver content was higher too so
they are smaller.
Luther 2 marks of the Berlin mint are not
too hard to find in VF or so. The other mints are much harder, and
Uncs are very difficult indeed. The 5m Luthers are tough in any grade
from any mint.
Next they issued the nickel 1 mark, a series
which endured until the start of the war. A few date-mint combinations
are fairly easy to find in circulated conditions, but this type will never
be found for 50› as noted in the SCWC. $2-3 is a minimum for this
coin.
Next, in 1934, came the Potsdam coins with
the date of Hitler's accession to the chancellery. These are the
first German coins with swastikas (though of course they were using the
symbol in India 2000 years ago.) Both 2m and 5m of this type are
not too hard to find, as long as you're willing to be satisfied with something
circulated.
That same year they also issued a Potsdam
church 5m without the date. These continued through 1935. They
are much more common than the "Marz" coins, and you'll often find a few
in the batches of circulated 5m that dealers like to bat around.
Availability is good up to AU, and true Uncs turn up too.
The last 1934 coins were the Schiller commemoratives.
The 2m can be obtained. The 5m is the showpiece of the Nazi series.
It is rare (though not the rarest) and shows up only infrequently in fancy
auctions.
1935 saw the start of the 2 year run of Hindenburg-no
swastika 5m. These too are common and make up the bulk of the large
volume of circulated 5m coins in the market. $4.00 is an average
wholesale price for these in F-aXF. Soft AU is the normal high grade.
Gems are tough.
Also in 1935 they issued the first Nazi aluminum
50p type. These are fairly common in circulated, but once again gems
are elusive.
Finally in 1936 the coinage was completely
Nazified. Swastika types were introduced for all denominations from
1p to 5m. All of the pre-war types have some common dates, and as
the prices have steadily escalated over the years batches of nice Uncs
have started to appear. Some recent appearances of quantity Uncs:
1p 1938-A, '39-A, 2p '38-A, '38-D, '38-F, 5p 1937-A. In addition
there are several dates of 2m which often show up Unc.
The tough type is the nickel swastika 50p.
It is hard to find these for under $10.00. They are usually XF or
better, but I've seen a lot with a little tiny pit or two.
During the war they cut out all the nonsense
with silver coins. Everything was switched to junky zinc, save the
50p struck in junky aluminum. Most dates of these coins are pretty
common, though the lowest grade pieces will usually get 50¢ or more.
The days of 10¢ swastica coins are over. And, as everyone knows,
the zinc coins usually come with oxide spots. Unspotted XF is a scarce
grade for these, and bright Uncs are (I don't mind saying it) rare.
The true keys to the Nazi series are those
zinc coins with center holes. These were struck for use in the occupied
territories. All anyone ever sees of these types are 1940-A coins
in XF - with or without spots. I've heard tell of no other mint or
date, nor any bright Uncs. At least I've seen the Schiller 5m offered.
Thus my assertion that these are the keys.
Another class of things I've never seen are
Nazi proofs. I've seen pictures of them, so I know they're around.
But I've never held one in my hand, nor gazed upon it in the case.
Off hand and in general, I'd say tht Nazi
coins run 20-50% ahead of SCWC prices.
THE ALLIED OCCUPATION
Germany as a whole was a mess at the close
of the war. Local conditions varied from tattered-but-intact to totally
destroyed. At the top were the occupying armies of the Allies.
The economy reflected the chaotic conditions. Barter was
the standard mode. The Allied government allowed continuation in
circulation of the old Nazi money. Some regional paper issues were
briefly permitted. For themselves they printed the well known Allied
Military Currency notes.
In late 1945 the Allied authorities permitted
the issue of "de-Nazified" versions of the current zinc coins. These
coins seem to me to be more in the nature of propaganda or demonstration
of mint right than an attempt to accomodate the needs of local petty commerce.
At any rate it's basically a scarce series.
The first version of the 1p was made from a 1944 die with the swastica
machined out. This of course is basically a pattern. I can't
remember seeing one, but they must be around, right?
The rest of the series has the redesigned
eagle and is moderately scarce. Average grade is XF, with or without
spots. Uncs are rare. They don't come in low grade. The
rare dates and mints are very rare. Maybe never seen.
By 1948 the joint Allied government had separated
into Western and Soviet zones, each with its own government and money.
The first coins on both sides were issued before the establishment of their
governments.
DEMOCRATIC REPUBLIC
In the Soviet zone the minor coinage began
and remained aluminum. There were evidently plenty of coin collectors
in the Democratic Republic, but they did not aspire to perfection and uncirculated
circulation coins are pretty hard to find.
The whole series, including the commemoratives,
is commercially available. Since unification prices have boomed,
then retreated, and are stable at an average subtantially above the SCWC
quotes. In Germany you can get quotes for complete date sets of minors
(except of course the 1949 50p), but the early minors in Unc are sky high.
As for the copper-nickel and silver coins,
commemorative or not, they too are all available. A small handful
(20th anniversary 5m, Meissen 5m, Buchenwald 5m, Youth Fest 10m, Thalmann
20m) are relatively common and cheap over here. The rest are expensive.
SCWC prices at the moment tend to reflect wholesale rather than retail
realities.
DDR proofs look to me like investment items.
I see growth potential. I have the same feeling about both proof
and mint sets. They're not around, I want them, therefore, per se,
they're desirable, right?
FEDERAL REPUBLIC
The Bank Deutscher Lander types are highly
desirable in BU and gems are hard to find in this country. The 1950-G
50p is not just hard to find, it is very rare.
A large part of any BRD bulk lot is dated
1950. Uncs of that date are not hard to find. Coins of the
later '50s and early '60s are fairly scarce, with highly inflated prices
for gems. From the '70s on most coins are common, though probably not more
than two USA dealers try to maintain a BU minor date stock. You may
have to go to to Germany. There you will find that there are numerous
semi-keys. I suggest it's time to look at the German trends to educate
the anglophones on what's hot and what's not.
And the latest twist in the minors is of course
the new BRD production from the Berlin mint. These coins seem to
be snapped up by collectors and hoarders, so that in spite of huge mintages
they are scarce both in circulation and in the hobby.
Everyone knows all about the BRD commemoratives,
right? They are all available. The first five have been great
investments, and probably still are. The rest of the DM5 coins rise
and fall in cycles like any other commodity. I've always found them
a safe bet to buy at the right price.
The DM10 coins are also readily available.
The 1972 Olympics are common as singles (sets are scarce). The later
issues are also common, but tend to retail about 25% higher than the current
SCWC quotes.
Mint sets and proof sets are not big business
in the USA. Not so surprising, now that I think about it. BRD
in general is not so big here. This is strange, because people are
making pots of money over there dealing in BRD. But look around.
How many BRD proof sets have you seen (let alone DDR!)? I think it's
safe to say that they are significantly undervalued in SCWC.
LATE DEVELOPMENTS
This was written in 1994. Since then the German
mints have been producing coins pretty much for collectors only.
This is because of the coming euro. Their attitude is "who cares?"
From 1995 on the coins are scarcer and scarcer, more and more expensive.
Decadent end of an era. They're still making coins in all the other
euro countries. Al we can do is watch it happen.
SAARLAND
These insignificant coins were part of a halfhearted
attempt by the French government to hold on to the territory. In
1955 the Saarlanders voted to join the BRD. The coins are all easily
available, 100 franken a bit scarce in Unc.
EXONUMIA
Let us end this brief sketch of German coinage with an even briefer
characterization of German tokens and medals.
Of course the German lands have always been the most prolifc
producers of all kinds of exonumia. Germany abounds in off-metal
strikes, proofs, patterns, medals, tokens, jetons, you name it. Minting
quality is often state of the art for period. Much of it is beautiful.
Material is available at all price levels. It is a field in which
one can quickly lose oneself, never to return to normal