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Germany, Steuergutschein I/Tax Remission Certificate, 1939

Currency:USD Category:Coins & Paper Money / Paper Money - World Currency Start Price:25.00 USD Estimated At:60.00 - 120.00 USD
Germany, Steuergutschein I/Tax Remission Certificate, 1939
SOLD
25.00USDto a*****n+ buyer's premium
This item SOLD at 2024 Oct 09 @ 12:13UTC-4 : AST/EDT
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Berlin, Germany, 1939. 100 Reichsmark Tax Remission Certificate, Black on m/c underprint uniface note, S/N A1963066, XF to AU condition. Steuergutschein I were non-interest bearing certificates that could be used at face value for the payment of all taxes and customs duties after they had been held for seven months. The holders were also entitled to an additional allowance on their income and corporate taxes. The reason for issuing these certificates was the desire to raise money for the war without increasing the bonded debt of the Reich. The certificates began to be issued in May 1939. The war and the dramatic decline in value on the exchanges caused the Reichsbank to cease issuing the certificates in November 1939. In April 1940, the requirements that they be used in commercial transactions were lifted. At the end of 1939 4,672,000 RM were outstanding. Overall, they were a failure.