Danzig gulden explained

Local Name:Danziger Gulden
Local Name Lang:de
Local Name2:Gulden gdański
Local Name Lang2:pl
Image 1:DAN-63-Bank von Danzig-20 Gulden (1937) (cropped).jpg
Image Title 1:20 gulden (1937)
Image 2:10fenigow gdansk1932.jpg
Image Title 2:10 pfennig coin
Using Countries:Free City of Danzig
Subunit Name 1:Pfennig
Plural:Gulden
Plural Subunit 1:Pfennig
Used Coins:1, 2, 5, 10 Pfennig
, 1, 2, 5, 10, 25 Gulden
Used Banknotes:10, 20, 25, 50, 100, 500, 1000 Gulden
Issuing Authority:Bank of Danzig
Obsolete:yes

The gulden, divided into 100 Pfennig, was the currency of the Free City of Danzig from 1923 to 1939.

History

From 1914 to 1923, Danzig used the German Papiermark and issued several local 'emergency notes'. Inflation during 1922–23 averaged roughly 2,440% per month. In July 1923 it was announced that a new and independent currency (the gulden) was being established with the approval of the League of Nations finance committee to replace the German mark.[1] The gulden was introduced at a value of 25 gulden = 1 pound sterling, or 9.6d sterling per gulden.[1]

Incorporation into Nazi Germany

Danzig, separated from Germany after World War I, was annexed by Nazi Germany on 1 September 1939, the day the invasion of Poland had begun[2] On the same day reichsmark coins and notes were declared legal tender alongside the Danzig gulden, with 1 gulden being equal to 70 reichspfennig (0.70 reichsmark).[3] This was a favourable exchange rate for inhabitants of Danzig, since the actual exchange rate was around 47 reichspfennig per gulden. To prevent abuse on 7 September the import of gulden coins and notes into the territory of the former free city was prohibited.[4] Bank assets were however converted at the market rate of 47 reichspfennig per gulden.[5]

With effect on 7 September 1939, coins of 1 and 2 pfennige became legal tender throughout Nazi Germany as 1 and 2 reichspfennige, and would remain in circulation until November 1940. On 30 September the reichsmark became the sole currency on the territory of the former free city. Notes and coins of 5 and 10 gulden were withdrawn that day and could be exchanged for reichsmarks until 15 October. Coins of 5 and 10 pfennig and and 1 gulden remained in circulation until 25 June 1940 and were redeemed until 25 July.

Coins

The first series of coins was issued in 1923, followed by a second in 1932. Coins were issued in denominations of 1, 2, 5 and 10 pfennige and, 1, 2, 5, 10 and 25 gulden.

The 25-gulden coins were minted in gold. Produced in very small numbers in 1923 (1,000) and 1930 (4,000), the latter date's issue was only released as a few presentation pieces. As part of the 1923 series are 200 proof coins and, while available to collectors, are very expensive.[6] The 1930 issue was essentially unobtainable until a large number appeared in the 1990s, apparently released from a Russian treasury where they had been stored since their capture at the end of World War II.[7]

First series (1923)[8]
Image Value Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse quantity minted minting issue withdrawal lapse
1 pfennig17 mm1.67 g95% Cu,
4% Sn,
1% Zn
PlainValue,
country name "Danzig"
Year,
Danzig coat of arms
11,500,0001923–193718 December 1923[9] 1 November 1940[10] 30 November 1940
2 pfennige19.5 mm2.5 g3,250,0001923–1937
5 pfennige17.5 mm2.0 g75% Cu,
25% Ni
PlainValue,
country name "Danzig"
Year,
Danzig coat of arms
4,000,0001923, 192818 December 19231 October 1932?
10 pfennige21.5 mm4.0 gValue,
country name "Freie Stadt Danzig"
5,000,0001923
gulden19.5 mm2.5 g75% Ag,
25% Cu
1/2, 1 Reeded. 2,5 Plain[11] Value,
country name "Freie Stadt Danzig",
coat of arms
cog1,400,0001923, 19271 April 1932
1 gulden23.5 mm5.0 g Value,
country name "Freie Stadt Danzig",
cog
Coat of arms held by two lions3,500,5001923
2 gulden26.5 mm10.0 g1,250,000
5 gulden35.0 mm25.0 gValue,
country name "Freie Stadt Danzig",
St. Mary's Church
860,5001923, 1927

Banknotes

The first Danzig gulden banknotes were issued by the Danzig Central Finance Department and dated 22 October 1923 with a second issue dated 1 November 1923. Denominations for both series included 1, 2, 5, 10, 25, and 50-pfennige notes, as well as 1, 2, and 5 gulden. In addition, the first issue contained 10 and 25-gulden notes, and the second issue contained 50 and 100-gulden notes. The Bank of Danzig was capitalized with £300,000 on 5 February 1924 and officially opened on 17 March 1924. The Bank of Danzig issued four series of gulden (1924, 1928–30, 1931–32, and 1937–38) with an initial issue date of 10 February 1924.

Issued by! scope="col" style="width:80px;"
IssueValueImageComments
Danzig Central Finance Department1923 first series1 pfennig
2 pfennige
5 pfennige
10 pfennige
25 pfennige
50 pfennige
1 gulden
2 gulden
5 gulden
10 gulden
25 gulden
1923 second series1 pfennig
2 pfennige
5 pfennige
10 pfennige
25 pfennige
50 pfennige
1 gulden
2 gulden
5 gulden
50 gulden
100 gulden
Bank of Danzig192410 gulden
25 gulden
100 gulden
500 guldenZeughaus (arsenal)
1,000 guldenCity Hall
1928–3010 guldenArtus Court
25 guldenSt. Mary's Church
1931–3220 guldenStockturm (local tower) part of Golden Gate (Gdańsk)
Neptune
25 guldenSt. Mary's Church
100 guldenMotława River dock scene
1937–3820 guldenArtus Court
50 guldenVorlaubenhaus

References

Sources

Notes and References

  1. News: . Danzig to Establish New Currency System. 3 . The New York Times . ProQuest Historical Newspapers: The New York Times (1851–2010). 20 July 1923.
  2. Web site: ÖNB-ALEX – Deutsches Reichsgesetzblatt Teil I 1867–1945. Österreichische Nationalbibliothek. onb.ac.at.
  3. Web site: ÖNB-ALEX – Deutsches Reichsgesetzblatt Teil I 1867–1945. Österreichische Nationalbibliothek. onb.ac.at.
  4. Web site: ÖNB-ALEX – Deutsches Reichsgesetzblatt Teil I 1867–1945. Österreichische Nationalbibliothek. onb.ac.at.
  5. Web site: Danziger Geld im 20. Jahrhundert . ostsee-urlaub-polen.de . dead . https://web.archive.org/web/20140522215010/http://www.ostsee-urlaub-polen.de/gdansk/geschichte-geld.htm . 2014-05-22 .
  6. http://www.coinworld.com/insights/Neptune-rules-on-Danzig-gold-25-gulden-coin.html Statue of Neptune basis of design on Danzig gold 25-gulden coins issued between two world wars
  7. http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3198593 A huge portion of Hitler's gold was already taken in 1945
  8. Schön G. and Schön G.: Welt Münzkatalog, 20. & 21. Jahrhundert, 1900–2010, München 2010, Battenberg Verlag.
  9. Kamiński Cz.: Ilustrowany katalog monet polskich 1916–1991, Warsaw 1992, KAW.
  10. Web site: ÖNB-ALEX – Deutsches Reichsgesetzblatt Teil I 1867–1945. Österreichische Nationalbibliothek. onb.ac.at.
  11. https://en.numista.com/catalogue/dantzig-1.html Coins from the City of Danzig