Basic Data:

• Country ISO Code: DDR (defunct)

• Official Language: German

• Language ISO Code: de

• Official Currency: Mark der Deutschen Demokratischen Republik (Mark der DDR)

• Currency ISO Code: unofficial (M)

Reason and History of Dissolution:

The German Democratic Republic (GDR) was established in 1949 in the Soviet occupation zone of Germany after World War II. The GDR had a socialist economy with its own currency under strict state control. On October 3, 1990, the GDR was officially dissolved and incorporated into the Federal Republic of Germany (FRG) during German reunification. The GDR currency was replaced by the Deutsche Mark (DM) of West Germany on July 1, 1990, during the economic and monetary union preceding political reunification.

Complete Financial History of the GDR

Currency: Mark der DDR (Mark of the German Democratic Republic)

• ISO Code: unofficial (M)

• Designs / Symbols:

  • Coins and banknotes featured national symbols of the GDR, including the state emblem, images of workers, peasants, industry, and socialist agriculture.

• Singular Name: Mark

• Plural Name: Mark

• Subdivision: 1 Mark = 100 Pfennig

• Fraction Singular: Pfennig

• Fraction Plural: Pfennig

• Initial Production Date: July 24, 1948 (as Deutsche Mark in Soviet zone, renamed in 1968 to Mark der DDR)

• Final Production Date: June 30, 1990

• Initial Circulation Date: July 24, 1948

• Final Circulation Date: June 30, 1990

• Mint: Various mints in East Germany

• Issuing Bank: Staatsbank der DDR (State Bank of the GDR)

Coin Denominations:

• 1, 5, 10, 20, 50 Pfennig; 1, 2, 5 Mark

Banknote Denominations:

• 5, 10, 20, 50, 100, 200, 500 Mark

Economic Historical Context:

• The GDR currency was a domestic currency, not convertible internationally, and strictly controlled in circulation with prohibitions on export and import.

• The currency underwent name changes: Deutsche Mark (1948-1964), Mark der Deutschen Notenbank (1964-1967), and finally Mark der DDR (1968-1990).

• International trade and travel used special accounting units called Valuta-Mark.

• The introduction of the West German Deutsche Mark in the GDR on July 1, 1990, marked the end of the GDR currency and initiated economic and monetary integration leading to reunification.

Mints / Production Locations:

• Mints located in East Germany

Designs / Symbols on Coins and Banknotes:

• GDR state emblem, images of workers, peasants, socialist symbols, industry, and agriculture

Production Quantities / Honorees / Seals:

• Large circulation mintages

• Some commemorative coins issued

Curiosities / Commemorative Coins:

• Commemorative coins issued for national events and anniversaries of the GDR

Current Circulation Status:

• Out of circulation since June 30, 1990

• Replaced by the West German Deutsche Mark on July 1, 1990

Issuing Authority:

• Staatsbank der DDR

Relevant Monetary Legislation:

• Strict regulations on circulation and use of domestic currency

• 1990 Economic and Monetary Union Act instituting replacement of GDR currency by Deutsche Mark

Names and Titles of Banknote Signatories:

• Varied by issue; generally signatures of the President of the Staatsbank and the Minister of Finance of the GDR

Persons Honored on Coins and Banknotes:

• Figures representing socialism, workers, and national symbols of the GDR

This report provides a complete financial history of the German Democratic Republic, highlighting the Mark der DDR as the official currency throughout the country’s existence, its characteristics, economic context, monetary changes, and replacement by the Deutsche Mark during German reunification.