Imperial Germany 50 Marks 1918 Part 1

This entry is the beginning of a two-part series on the 50 mark issues of 1918, of which there are two major varieties.  Both of these notes have been given nicknames over the years, and today I will focus on the so called "Mourning Note".  The name is likely in reference to Germany's 1918 defeat in the first world war.  Overall, this note seems to have a relatively basic design and reminds me personally of the notes from the Weimar Republic of the 1920s more so than it does of the issues of Imperial Germany.

In any case, this note comes in three varieties, which are differentiated by the watermark.  Variety one has a watermark 'J', variety two has a watermark 'A', and variety 3 has a watermark 'B'.  All three of these varieties command substantially higher prices than the notes I have previously discussed, with the first variety having an approximate retail price of $100 in 'very good', $200 in 'very fine', and $350 in 'uncirculated'.  The second and third varieties should be available at about the same price as one another: $80 in 'very good', $150 in 'very fine', and $300 in 'uncirculated.

 I need barely say that the price of these notes means that only the collector knowledgeable in grading should consider purchasing; there are plenty of other, cheaper, notes for inexperienced collectors to hone their grading skills on. 

As always, here are the pictures:

Obverse (front):

Reverse (back):

Banknote Pricing in A Historical Context

First of all, I apologize for the extended hiatus.  I've been busy with other things as of late and haven't had very much time to devote to this blog.  In any case, today I'd like to briefly examine the reasons for the large differences in prices seen among notes, from different time periods and even within the same time period. 

Fist of all, as even the newer collectors among you have likely noticed, is that prices vary greatly by country as a general rule.  Some countries, such as the United States and Great Britain tend to have pricier issues, while others, such as Austria-Hungry and Imperial Russia are on the cheaper side.  In fact you'll notice that countries still standing today are as a rule more expensive than their vanquished or dissolved counterparts.  This is due to the fact that these nations still honor their currency, while non existing nations obviously do not.  My point is that you could still walk into a McDonald's restaurant and buy lunch with a five dollar note from 1917, but you wouldn't have much luck trying the same with a 10 ruble 1909 Russian issue (unless maybe the cashier is a collector!)

Another reason for the difference in pricing between notes of different national origin is that countries and empires that no longer exist often rapidly inflate their currencies as a last ditch effort to stave off economic ruin.  Naturally this results in a large quantity of notes, which in a short time being next to worthless in commerce.  History is littered with such examples, such as Imperial Russia in WWI, Imperial Japan occupation currency during WWII, and Wiemar Germany during the 1920s.

When collecting notes and looking through the pricing catalogs, it's important to examine the historical context of the notes when considering the reasons behind their valuations.

I'll end today's post with a question, answer in the comments and  get special mention in the next post.  "Why are Russian notes issued before 1898 very expensive to acquire?"

Imperial Russia 100 Rubles 1910

The Russian 100 ruble issue of 1910 is a rather large sized note at 260 by 122 millimeters and is printed in dark brown on a multicolored underprint.  The front features the Imperial Russian coat of arms in addition to a watermark of Catherine II, while the back features a portrait of the Tzarista along with an allegorical male figure.

These notes were, like many of the others that I've previously examined, issued largely during the rampant inflationary period immediately preceding and encompassing World War I.  As such, prices are relatively cheap, making this a very affordable specimen for most collectors.  Take care to find an example that hasn't been folded, as due to the large size I've seen this occur before at shows.   The Konshin variety is available in the following grades for roughly the following prices: VG:$15, VF:$30, UNC: $50, while the Shipov can be expected to retail for the following: VG: $8, VF: $15, UNC: $30.  As usual, here are the pictures:

Front:

 Back:

Austria-Hungary 20 Kronen 1907

This is an example of a relatively affordable note from the Austro-Hungarian Empire.  Like the German, Russian, and Ottoman empires, the Austro-Hungarian Empire dissolved following the end of World War I.  Due to inflation, and the relatively large numbers of surviving notes, many specimens can be acquired at modest prices and provide a new dimension to one's world banknote collection from a fallen empire.  The 20 kronen example is printed in blue on a red-brown and green underprint, as can be seen in the photographs.  The piece measures 153 by 91 millimeters, and could likely be acquired for the following prices based on condition( all prices approximate and in USD): Good: $6.00, Fine: $15.00, Extra fine: $50.00.  Please refer to my earlier post for determining the condition of a note.  Here are the pics:

Front:

Back: