20 reichsmark 1945
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54 salesAbout This Note
This is a 20 Reichsmark Kassenschein (voucher) issued by the Reichsverteidigungskommissar (Reich Defense Commissioner) of Sudetenland and Lower Silesia on April 28, 1945, in the final weeks of World War II. The note exhibits pristine uncirculated condition with crisp printing, ornate burgundy/maroon geometric and floral designs on a cream background, and represents a rare late-war emergency currency from the collapsing Third Reich. The exemplar shown features Series AE with red serial number 021975 and bears the printer's mark of Gebrüder Stempel K.G. of Reichenberg (Sudetenland).
Common. Despite its late-war emergency nature and limited geographic circulation (Sudetenland and Lower Silesia only), this note remains common in the secondary market. eBay price data spanning 2014-2025 shows consistent sales at modest levels ($3.50-$118.50 depending on condition), with UNC specimens selling for $8.50-$16.50 during peak years (2014-2017) and averaging $10-$13 in recent transactions. The catalog value of $100 for UNC is aspirational; realized market prices for UNC examples have not approached this figure in over a decade. Large quantities of these notes survived because they were never withdrawn from circulation during the post-war monetary reform due to their Kassenschein (voucher) status rather than official currency classification.
This Kassenschein was issued under emergency decree by regional Reich Defense Commissioners as Nazi Germany faced imminent military collapse in April 1945. The denomination and design elements reflect the Reichsbank's continued operations and standardized currency protocols even in the final chaotic weeks of the war. The note's inscription specifically references the Reichsverteidigungsbezirke (Reich Defense Districts) of Sudetenland and Lower Silesia, representing an attempt to maintain financial administration in territories being evacuated ahead of advancing Soviet forces.
The note features a symmetrical, highly ornate design characteristic of late Reichsbank issues. The obverse displays elaborate corner medallions with interlocking geometric and floral patterns rendered in burgundy/maroon line work, framed by detailed borders. The central area prominently displays the denomination in large gothic/blackletter script. The reverse features a dominant ornate oval medallion with concentric circular geometric patterns containing the numeral '20' at its center, with the denomination name 'Zwanzig Reichsmark' and issuing institution name in matching gothic typography. The overall aesthetic reflects Germanic design traditions with no portraits or specific landmarks depicted—the symbolic content consists entirely of geometric ornamentation and formal typography, emphasizing the authority and legitimacy of the issue through intricate engraving work rather than figurative imagery.
{"front":{"serieAndNumber":"Serie AE / № 021975","institutionName":"Raiffeisenbank","denomination":"Darlien Reichsmark (Twenty Reichsmark)","bankIssuer":"Die deutsche Reichsbank (The German Reichsbank)","authorityAndDate":"Dieser Kassenschein wird auf Grund der Anordnung der Reichsverteidigungskommissare der Reichsverteidigungsbezirke Sudetenland und Niederschlesien vom 28. April 1945 ausgegeben und ist als gesetzliches Zahlungsmittel in Zahlung zu nehmen. (This voucher is issued on the basis of the decree of the Reich Defense Commissioners of the Reich Defense Districts of Sudetenland and Lower Silesia from April 28, 1945 and must be accepted as legal tender in payment.)"},"back":{"institutionName":"Raiffeisenbank","denomination":"Zwanzig Reichsmark (Twenty Reichsmark)","counterfeiting":"Wer Kassensteine nachmacht oder verfälscht oder nachgemachte oder verfälschte sich verschafft und in Verkehr bringt, wird mit Zuchthaus nicht unter zwei Jahren bestraft. (Whoever counterfeits or forges vouchers, or obtains counterfeit or forged ones and brings them into circulation will be punished with imprisonment for not less than two years.)","date":"28. April 1945","printer":"GEBRÜDER STEMPEL K.G. REICHENBERG (SUDETENLAND)"}}
Intaglio engraving (recess printing), evidenced by the crisp, detailed line work visible in the geometric patterns, borders, and typography. The complex concentric patterns within the medallion and fine border details show the characteristic precision of professional banknote engraving. The note was printed by Gebrüder Stempel K.G. (Brothers Stempel Company) of Reichenberg, Sudetenland, a legitimate security printer serving the Reichsbank.
Series AE is documented; other series letters (AB, AC, AD, etc.) are known to exist. The serial number prefix consists of six digits (021975 in this example). The printer identification 'Gebrüder Stempel K.G. Reichenberg (Sudetenland)' appears on the reverse of all known examples. Date fixed at 28. April 1945 on all specimens. No significant varieties have been cataloged for Pick 187; differentiation occurs primarily by series letter and serial number sequence.
