Background and writing
Greed is based on the American author Frank Norris's 1899 novel McTeague: A Story of San Francisco. Von Stroheim's interest in McTeague can be traced back to January 1920, when he told a journalist that he wanted to film the novel. He had lived in San Francisco in the early 1910s, living there in poverty like that of the story's characters. He eventually moved to Los Angeles, and worked his way up in the film industry from extra to acting in villainous or aristocratic roles in films. By 1919, von Stroheim had finally become a successful director in his own right at Universal Film Manufacturing Company, although one with a reputation of going over budget and over schedule.
Upon the appointment of Irving Thalberg as general manager at Universal, von Stroheim's defiance of commercial and industrial norms was no longer tolerated. After Thalberg's prior shutdown of Foolish Wives in 1921 (which had been shooting non-stop for eleven months), and after six weeks of filming on Merry-Go-Round, von Stroheim was fired from the studio on October 6, 1922. This was a step unprecedented in Hollywood, heralding a new era in which the producer and the studio would hold artistic control over actors and directors. By this time von Stroheim had received several offers of contracts with other studios, even before being fired from Universal. He had met with executives of the Goldwyn Company on September 14, 1922, less than a month before, and he formally signed with them in late November.
Von Stroheim chose his new studio because of the level of artistic freedom he was offered, which he had been denied at Universal under Thalberg. In March of that year, Frank Joseph (Joe) Godsol was elected president of Goldwyn Pictures. Board of Directors member Abe Lehr publicly promised that "each director will have his own staff and will be given every facility in putting into production his own individuality and personality." Von Stroheim signed a one-year, three-feature deal with Goldwyn on November 20, 1922. The deal stipulated that each feature would be between 4,500 and 8,500 feet (1,400 and 2,600 m) long, cost no more than $175,000 and be completed in fourteen weeks. It also promised von Stroheim $30,000 for each completed film.
Lehr initially hired von Stroheim in order to film a big-budget version of the operetta The Merry Widow, which the producer saw as a guaranteed hit; von Stroheim convinced Lehr to let him make Greed first, promising low costs. A press release of February 1923 said that although von Stroheim had "run rather freely to large sets in the past, [he] seems to have reformed—or surrendered—for it is announced that he will not build any sets at all."
Von Stroheim wrote a highly detailed 300-page script that contained camera movements, composition and tint cues. Among the changes that he made to Norris's novel was giving McTeague the first name of John and omitting Norris's antisemitism. McTeague had been filmed once before as Life's Whirlpool, a five-reel short by William A. Brady's World Pictures, starring Broadway star Holbrook Blinn as McTeague, which had been released in 1916. Film critics disliked this version and von Stroheim later criticized Blinn's performance. According to the film historian, Kevin Brownlow, Life's Whirlpool was also shot on location in Death Valley.
Von Stroheim was known for his perfectionism and his insolence towards studio executives. Working on Greed, von Stroheim set out to make a realistic film about everyday people and rejected the Hollywood tropes of glamor, happy endings and upper-class characters. Before shooting began, von Stroheim told a reporter:
It is possible to tell a great story in motion pictures in such a way that the spectator forgets he is looking at beauteous Gertie Gefelta, the producer's pet and discovers himself intensely interested, just as if he were looking out of a window at life itself. He will come to believe that what he is gazing at is real—a cameraman was present in the household and nobody knew it. They went on in their daily life with their joys, fun and tragedies and the camera stole it all, holding it up afterward for all to see.
In early January 1923, von Stroheim arrived in San Francisco, where he scouted locations and finished writing the shooting script. While researching for Greed, he attended society functions in town and met many friends of Frank Norris, including his brother Charles and his sister-in-law Kathleen. To capture the authentic spirit of the story, von Stroheim insisted on filming on location in San Francisco, the Sierra Nevada mountains, the Big Dipper Mine in Iowa Hill, and Death Valley. He rented some of the actual buildings that had inspired scenes in the novel. Other locations included Cliff House and San Francisco Bay.
Norris had similarly scouted settings for his novel and chose the upstairs of a building on the corner of Polk and California street as McTeague's dentist office, as well as many of the saloons and lunch counters in the area. Von Stroheim discovered that many of the locations that Norris had described, such as Polk Street, had been destroyed in the 1906 San Francisco earthquake, but he was able to find suitable period locations on Hayes and Laguna streets. For authenticity, von Stroheim had no sets built in San Francisco and only redecorated existing locations, such as saloons, butcher shops, and wooden shacks, thus saving on construction costs.
Despite the strict conditions of von Stroheim's initial contract, Goldwyn approved the lengthy shooting script before filming began. Production Manager J. J. Cohn later explained that "they thought they could control him when the time comes."