Lot of Nine 1908 to 1933 German Banknotes, Various Denominations Grades vf-au. From 1871 to 1914 the German Mark was known as the "Goldmark", as it was on the gold standard. During WWI, like most nations, Germany removed the gold backing and ceased circulation of gold coins. The Goldmark was the culmination of years of effort put into unifying the currency of Germany. In August 1914, Directly after the onset of WW1, the German Empire removed the gold backing of the mark and issued new currency. After the fall of the German Empire in 1918, the newly formed German Weimar Republic issued another new currency, known derisively as the "Paper Mark", which faced massive hyperinflation.