A Single Bread Costs 4.6 Million During Germany’s Hyperinflation in 1923

The 1921 – 1924 hyperinflation happened mainly because of three things: the ongoing internal political instability in the country, the occupation of the Ruhr district by foreign troops, and when the Weimar (modern-day Germany) government printed too much banknotes to pay reparations after the 1923 French invasion. Because the banknotes were not matched by Germany’s production, their value fell.

In 1922, a loaf of bread cost 163 marks. By September 1923, during hyperinflation, the price crawled up to 1,500,000 marks and at the peak of hyperinflation, in November 1923, a loaf of bread costs 200,000,000,000 marks.

Cash being prepared for burning
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Cash being sold by weight
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Kite made of banknotes
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Bread price: 4.60 million marks
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Cash being transported to pay salaries
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German children build a pyramid with stacks of inflated currency
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Carrying cash
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Dress made of cash
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Cash used as fuel
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1000 billion mark note
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H/T OldPicsArchive

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