

This 1940 Reichskreditkasse 5 Reichsmark note (Pick R138a) presents in exceptional AU condition with crisp, uncirculated appearance and no visible wear, creases, or stains. The note features two male profile portraits in ornate circular frames and displays the characteristic fine engraving and intricate geometric mesh security pattern typical of high-quality German wartime currency. The pristine condition and clean margins make this an attractive example of Reichskreditkasse emergency currency from the final year of the Third Reich.
Common. The eBay price data demonstrates consistent and abundant sales across all condition grades from VF ($0.99-$4.50) through PMG 67 ($35-$58), with regular market activity spanning over a decade. Catalog values from 2008 ranged from $7 (VG) to $30 (UNC), indicating a note that was produced in substantial quantities and remains readily available to collectors. The Reichskreditkasse issued these notes in large volumes during 1940-1945, and they survive in considerable numbers today.
Issued by the Reichskreditkasse in 1940, this note represents emergency currency created during World War II to supplement regular Reichsbank notes. The classical architectural imagery on the reverse—featuring what appears to be a significant German governmental building with columns—and the two worker/citizen portraits reflect Nazi-era iconography emphasizing labor, industry, and state strength. The inscription 'Gültig nur im Inland' (valid only within the country) reflects wartime restrictions on currency movement and the increasingly isolated German economy.
The obverse presents two male profile portraits facing right in circular ornamental frames positioned at left and center-right, likely representing idealized figures of a farmer and industrial worker reflecting Nazi-era social imagery. The Reichsadler (German imperial eagle with shield) appears in the center-left area, serving as a primary state symbol. The reverse features a classical building with columned façade and triangular pediment within a central circular medallion surrounded by concentric decorative borders, flanked by ornamental lion or eagle head motifs. The entire note employs a sophisticated geometric mesh background pattern in brown, dark blue, and cream tones, with fine-line engraving throughout providing security and visual sophistication characteristic of 1940s German currency production.
FRONT: 'Fünf Reichsmark' (Five Reichsmark); 'Ausgegeben auf Grund der Verordnung über Reichskreditkallen Hauptverwaltung der Reichskreditkallen' (Issued under the regulation concerning Reichskreditkallen, Main Administration of the Reichskreditkallen); Serial number: R 9470804; Denomination: 5. BACK: 'Gültig nur im Inland' (Valid only within the country) - repeated on left and right margins.
Intaglio engraving (recess printing), the standard method for high-security banknote production. This technique produces the distinctive fine lines, depth, and tactile quality visible in the portraits, architectural details, and security mesh patterns. The Reichskreditkasse notes of this series were produced by established German security printers, likely Giesecke+Devrient or similar facilities contracted by the Reich.
Pick catalog number R138a indicates this is the first cataloged variety of the 5 Reichsmark Reichskreditkasse issue. The serial number observed (R 9470804) shows the standard 7-digit format with letter prefix 'R' typical of Reichskreditkassen issues. No special overprints, date variations, or signature variants are evident in this example. This note represents the standard wartime issue type without the additional varieties sometimes found in emergency currency (such as emergency overprints or restricted-use stamps), though an embossed stamp is noted in the reference data.