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Emergency money (notgeld)

Emergency money (notgeld) was issued at the beginning of the 20th century in some European countries whose economies were affected by  World War I. These are Germany, France, Belgium, Spain , etc. The need to put notgeld into circulation was due to the financial crisis in wartime and the first post-war years, rapidly developing inflation, and a shortage of small bargaining chips. Since the release of notgeld was not engaged in the central bank of the state, but local municipalities and even cooperatives, they are not considered public money and they are highlighted in a separate category. In this section we will only talk about metal notgels.