20 reichsmark 1945

Common. The eBay market data provided shows consistent trading at modest prices, with most sales ranging from $3–$40 USD depending on condition grade, and the most recent comparable sale (PMG 66) at $60 in March 2025. The 2016 catalogue values of $25 (VG), $50 (VF), and $100 (UNC) align with this pattern of modest, stable demand reflecting a widely available note. While the Kassenschein is historically significant as a late-war emergency issue, it was produced in sufficient quantity to ensure ready availability to collectors today. PMG 67 EPQ specimens command a premium within the normal range for this note type but are not exceptionally scarce.

This note represents a desperate late-stage currency measure issued just days before Germany's unconditional surrender on May 7-8, 1945. The Kassenschein was authorized by regional Reich Defense Commissioners (Reichsverwaltungsgebiete) for the territories of Sudetenland and Lower Silesia, reflecting the fragmentation of central authority as the Third Reich collapsed under Allied advances. The legal tender declaration and severe counterfeiting penalties inscribed on the reverse underscore the regime's attempt to maintain monetary control even as its territorial and political authority disintegrated.

This Kassenschein features a formal, highly decorative design typical of late Weimar and Nazi-era currency production, eschewing the realistic portraiture common on Reichsbank notes in favor of ornamental symbolism befitting an emergency issue. The front displays the denomination 'Zwanzig Reichsmark' in Gothic script within a symmetrical composition framed by elaborate corner medallions and geometric border patterns in dark brown and maroon. The reverse mirrors this design philosophy with a prominent numeral '20' enclosed in a large ornate oval frame positioned on the left side, balanced by the central legal text. The entire design is rendered in a restrained two-color scheme (dark brown/maroon on cream/beige) with fine cross-hatch security patterns visible throughout the background. The use of Gothic typography and classical decorative framing elements reflects the aesthetic preferences of official German monetary design during this period. No portraits or identifiable landmarks appear; instead, the note relies on abstract ornamental geometry and legal inscriptions to convey authority and deter counterfeiting.

FRONT: 'Serie AE' (Series AE); 'Kassenschein' (Cash Voucher/Emergency Certificate); 'No 024393' (Serial Number 024393); 'Zwanzig Reichsmark' (Twenty Reichsmarks); 'Dieser Kassenschein wird auf Grund der Anordnung der Reichsverteidigungskommissäre der Reichsverwaltungsgebiete Sudetenland und Niederschlesien vom 28 April 1945 ausgegeben und ist als gesetzliches Zahlungsmittel in Zahlung zu nehmen.' (This cash voucher is issued on the basis of the order of the Reich Defense Commissioners of the Reich Administration Territories of Sudetenland and Lower Silesia from April 28, 1945, and must be accepted as legal tender in payment.); 'Die deutsche Reichsbank' (The German Reichsbank). BACK: 'Kassenschein' (Cash Voucher); 'Zwanzig Reichsmark' (Twenty Reichsmarks); '20' (denomination numeral); 'Wer Kassenscheine nachmacht oberversälscht oder nachgemachte oder versälschte sich verschafft und in Verkehr bringt, wird mit Zuchthaus nicht unter zwei Jahren bestraft.' (Anyone who counterfeits cash vouchers, forges them, or procures counterfeit or forged ones and puts them into circulation will be punished with imprisonment for no less than two years.); '28 April 1945' (Issue Date).

This note was produced using intaglio (engraved) printing, evidenced by the crisp, fine-line definition visible in the ornate borders, security pattern cross-hatching, and Gothic script typography. The precision of the decorative corner medallions and the consistent, deep color saturation of the dark brown and maroon inks are characteristic of high-quality intaglio work. The fine background security pattern—a cross-hatch design visible throughout both sides—was applied as part of the engraved plate work rather than as a separate printing process. For Pick 187, the Reichsbank typically contracted with established German security printers (such as Giesecke+Devrient or similar firms) who maintained the sophisticated engraving capabilities necessary for such detailed work, even in the chaotic final months of World War II.

This specimen is identified as Series AE, Serial No. 024393, from the April 28, 1945 issue date—the sole documented issue date for this Pick 187 Kassenschein. Known varieties for this note type include different series prefixes (AE being observed here); serial number ranges may help distinguish printing batches. The note exhibits no visible overprints, watermarks, or secondary printing characteristics beyond the standard design. The consistent appearance across multiple PMG-graded examples suggests limited die or plate variations exist for this emergency issue, which was produced under extreme wartime constraints over a very brief window before Germany's surrender.