Hamburg Mark Explained

The Hamburg mark is a unit of currency that was used in Hamburg, Germany, from 1619 to 1873. It was subdivided into 16 silver groschen.

The Hamburg mark was pegged to the silver standard, which means its value was tied to the value of silver. This meant that the amount of silver used to make a mark was fixed.

One mark was equal to 16 groschen, which were further subdivided into 24 pfennigs. This made it easy to calculate prices and exchange rates.

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The Hamburg mark was the currency of the Free and Hanseatic City of Hamburg, Germany, from 1887 to 1948. It was subdivided into 100 pfennigs.

The Hamburg mark was pegged to the German gold mark at a rate of 1 Hamburg mark = 1.2 German gold marks.

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Hamburg Mark is a unit of currency that was historically used in the Free and Hanseatic City of Hamburg, Germany.

The Hamburg Mark was first introduced in 1873, replacing the Hamburg Guldens.

It was pegged to the German Mark at a rate of 1 Hamburg Mark to 2 German Marks.

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Hamburg Mark has a rich history dating back to the 13th century. It was first introduced as a currency in the Free City of Hamburg, a trading hub in Northern Europe.

The Hamburg Mark was pegged to the German Gold Mark, which was introduced in 1873. This pegging was a result of the German government's efforts to stabilize the economy.

In 1948, the Hamburg Mark was revalued and pegged to the Deutsche Mark, which was the official currency of Germany at the time. This revaluation was necessary due to the economic instability caused by World War II.

The Hamburg Mark was eventually phased out in 1957, when it was officially replaced by the Deutsche Mark.

Lübeck ceased minting coins after 1801, but it continued to use the same currency system as Hamburg.

Hamburg currency was a dominant force in Lübeck, making up 61% of the coins in circulation by the time the German mark was introduced in 1873.

The Hamburg Mark was widely used in Lübeck, even after the city stopped minting its own coins in 1801. Lübeck continued to use the same currency system as Hamburg until German unification.

In fact, by the time the German mark was introduced in 1873, Hamburg currency made up 61% of the coins in circulation in Lübeck. This shows just how influential the Hamburg Mark was in the region.

In Hamburg, the use of the Hamburg Mark was a significant part of the city's economy.

The Hamburg Mark was used in Hamburg until German unification, and it was still widely used in the city even after the introduction of the German Mark in 1873.

Hamburg currency constituted 61% of the coins in circulation in Lübeck, a neighboring city that also used the Hamburg Mark system.

This shows just how widespread the use of the Hamburg Mark was in the region, and how it continued to be an important part of the local economy for many years.

After German unification, the Hamburg Mark was eventually phased out, but its legacy continued to be felt in the city's financial systems.

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The Hamburg Mark Banco was a reliable medium of exchange created by the Hamburger Bank in 1619. It accepted silver of verified weight from customers and credited their accounts with a Reichsthaler equivalent unit called the Hamburg Reichsthaler Banco.

The Hamburg Mark Banco was subdivided into smaller units, with 1 Reichsthaler Banco equal to 3 Marks Banco, each of 16 schillings. This made it a more manageable and practical currency for everyday transactions.

The Hamburger Bank's standards for the Reichsthaler Banco were influenced by the Bank of Amsterdam, which used a lower standard for the Dutch rijksdaalder. As a result, the Reichsthaler Banco was equivalent to 0.4 Pound Flemish, each of 20 schillings Flemish or 240 grotes Flemish.

Here's a breakdown of the Hamburg Mark Banco's subdivisions:

The Hamburg Mark Banco turned out to be one of Europe's most stable currencies, with the Hamburger Bank accepting bullion and coin from 1770.

The Hamburg Mark Courant was a local currency used in Hamburg from 1667. It was valued at a fraction of the standard units, such as the Reichsthaler and Marks Banco.

The Hamburg Mark Courant was first introduced in 1667 with a tale of 1 Cologne Mark = 10.5 thalers courant = 31.5 marks courant. This standard was later changed in 1690 to 1 Cologne Mark = 111⁄3 thalers = 34 marks courant.

In 1690, the Hamburg Mark Courant was worth 27.625/34 = 13⁄16th of a Hamburg Mark Banco, which is equivalent to 6.88 g fine silver. It was also divided into 16 schillings courant.

A similar currency system was used in Denmark, Norway, and Schleswig-Holstein, but with a slightly lower thaler courant worth 4⁄5 the Reichsthaler specie. This made the Reichsthaler specie equal 60 schillings courant.

The Hamburg Mark Courant was eventually retired in 1875 and converted to 1.2 German gold marks.

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The Hamburg mark had several variations over the years. One of the most notable was the Hamburg mark of 1648, which was used during the Thirty Years' War.

The Hamburg mark of 1648 was replaced by the Hamburg mark of 1753, which had a different design and weight standard. This new mark was used until the introduction of the decimal system in 1815.

The Hamburg mark was also used in various forms of trade, such as in the exchange of goods with other countries. For example, the Hamburg mark was used to calculate the value of goods in the Hanseatic League, a powerful trading federation in Northern Europe.

The Hamburg mark was divided into smaller units, including the Markstück and the Markpfennig. The Markstück was worth one eighth of a Hamburg mark, while the Markpfennig was worth one sixteenth.

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