Watch List notes:

Germany Empire Reichsschuldenverwaltung REICHSKASSENSCHEIN 5 Mark Pick 1 (Ros. 1) dated 11th July 1874 Series IX. Lit. J Fol. 161 number 0801784, Fair to Good with a 4mm oblong centre hole and numerous other small holes in the main body of the note and an Exceptionally Rare early first series of the Imperial Treasury notes. Dark blue and grey-blue featuring small cherubs and the Reich Sadler (Imperial Eagle) Coat of Arms this series was issued just 3 years after the unification of various German states into the German Empire. Currency in the already economically powerful regions were dominated by state issued coins and notes mainly of Prussia (North German Confederation) and Bavaria. Even after unification, there was no large demand to unify the currency under a single issuer, as there was a set exchange rate between the coins of each currency. Each state also continued to issue their own currency, thus both supply and demand for this early series was small. It was not until a few series later, after the majority of these notes were already redeemed, when a unified currency became the most popular type in Germany. These issues remained in circulation until 30th June 1885. The PMG Population currently holds only 6 examples of this scarce small denomination note although it would be roughly a worker's daily wage as at time it would average between 1.50 and 6 marks.

Estimate: 150-300 GBP