East German Communist One Mark Coin. Circulated
East German Communist One Mark Coin. Circulated
East German Communist One Mark Coin. Circulated

East German Communist One Mark Coin. Circulated After WW2 in Communist East Germany Post Hitler and Nazi Cold War Coin. Circulated Condition (One Mark)

Product ID : 40032291
4.6 out of 5 stars

Galleon Product ID 40032291
UPC / ISBN 637769699154
Shipping Weight 0.02 lbs
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Manufacturer Don't Tell My Wife How Much I Spend
Shipping Dimension 1.3 x 0.98 x 0.59 inches
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About East German Communist One Mark Coin. Circulated

The East German mark was officially valued by the East German government at parity with the (West German) Deutsche Mark. However, due to limited convertibility and a restricted export profile, it was practically worthless outside East Germany. The few East Germans able to visit the West often found themselves having to rely on their West German relatives as a result. Beginning in 1964, the East German government instituted a Zwangsumtausch (forced exchange) (or Mindestumtausch — minimum exchange), whereby most visitors from non-socialist foreign countries were required to exchange a set amount of Deutsche Mark (or other hard currencies) for East German marks at the ratio of one Deutsche Mark to one East German mark for every day of their stay. Starting on 13 October 1980, Western visitors to the GDR were required to exchange a minimum of 25 Deutsche Mark for East German marks per day. Some exceptions were authorized: for example, tourists who booked hotel stays in the GDR that were paid in hard currency were exempted from the minimum exchange requirements. (Of course, such accommodation charges almost always exceeded the 25 mark daily exchange threshold.) At other times, West Berliners, retirees, children, and youth were granted either exemptions or were authorized reduced minimum exchange amounts. Members of the Western Allied military forces stationed in West Berlin were also exempt from these rules when visiting East Berlin, in part because the Western Allies did not recognize the authority of the GDR to regulate the activities of their military personnel in East Berlin; only the Soviet Union was considered competent to do so.