Bremen thaler was converted directly to the mark at a rate of 1 Thaler gold = or 3.32 marks. The Hamburg mark courant or currency was converted at 1 mark = 1.2 Imperial marks, and the Hamburg mark banco of the Bank of Hamburg was converted at 1 mark banco = 1.5 Imperial marks. From 1 January 1876 onwards, the mark and became the only legal tenders. Before 1914, the mark was on a gold standard with 2790 marks equal to 1 kilogram of pure gold (1 mark = 358 mg). The term was created later to retrospectively distinguish it from the (paper mark) which suffered a serious loss of value through hyperinflation following World War I during hyperinflation in the Weimar Republic. For comparison, from 1900 to 1933, the United States adhered to a gold standard as well with the gold dollar containing 23.22 grains or 1.50463 g fine gold; it was therefore worth 4.198 gold marks. The monetary hegemon of the time when the gold mark was in use, however, was the pound sterling, with £1 being valued at 20.43 gold marks. World War I reparations owed by Germany were stated in gold reserves in 1921, 1929 and 1931; this was the victorious Allies' response to their fear that vanquished Germany might try to pay off the obligation in paper currency. The actual amount of reparations that Germany was obliged to pay out was not the 132 billion marks cited in the London Schedule of 1921 but rather the 50 billion marks stipulated in the A and B Bonds. The actual total payout from 1920 to 1931 (when payments were suspended indefinitely) was 20 billion German gold marks, worth about or . Most of that money came from loans from New York bankers. Following the Nazi seizure of power in 1933, payments of reparations were officially abandoned. West Germany after World War II did not resume payment of reparations as such, but did resume the payment of debt that Germany had acquired in the inter-war period to finance its reparation payments, paying off the principal on those debts by 1980. The interest on those debts was paid off on 3 October 2010, the 20th anniversary of German reunification. Coins Coins of denominations between 1 pfennig and 1 mark were issued in standard designs for the whole empire, whilst those above 1 mark were issued by the individual states,