500,000,000 Mark Papiermark #194

Front

Weimar Republic Reichsbanknote issued during the catastrophic hyperinflation of 1923, denominated at 500 million Mark (Fünfhundert Milliarden Mark). The note bears the date 26 October 1923, Berlin, and features the Weimar eagle emblem of the German Reich flanking the denomination. The text specifies that the Reichsbankhaupitkasse in Berlin will pay the bearer and that from 1 February 1924 the note can be called in and exchanged for other legal tender. Multiple signatures of the Reichsbankdirektorium members appear below the text.

Back

Plain unprinted reverse, typical of emergency hyperinflation notes produced at extreme speed during the final months of the Papiermark collapse in 1923.

History

This 500-million-Mark note belongs to the final phase of Weimar Germany's hyperinflation, issued in October 1923 when currency values spiraled out of control daily. The Reichsbank printed emergency notes in astronomical denominations—by November 1923 a loaf of bread cost billions of marks. The note's text explicitly references its limited validity, stating it could be called in from 1 February 1924 for exchange. The hyperinflation ended when the Rentenmark was introduced in November 1923 (at 1 Rentenmark = 1 trillion Papiermark), and this currency was formally demonetized on 1 February 1924. These notes were mass-produced by the Reichsdruckerei on plain paper with minimal security features due to the urgent need for currency. They represent one of history's most extreme monetary crises.