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| 正面描述 | Typeset Notgeld issue printed in brown on cream paper, with a double-ruled rectangular border accented by diamond ornaments at the corners and sides. The central text in calligraphic and bold letterpress reads 'Notgeld der Stadtgemeinde Baden-Baden / Eine Milliarde Mark', with the place name and issue date 'Baden-Baden, 31. Oktober 1923' at lower left. A serial number prefix 'No Z' appears at upper centre with the numeral in green ink, flanked by two facsimile signatures above the designations 'Der Oberbürgermeister' and 'Der Stadtkassendirektor'; the printer credit 'Doering-Druck' and designer name 'Puhonny' appear at lower right and lower left respectively. |
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| 正面铭文 | Dieses Notgeld wird von allen städtischen Kassen in Zahlung genommen No Z Notgeld der Stadtgemeinde Baden-Baden Eine Milliarde Mark DER OBERBÜRGERMEISTER: DER STADTKASSENDIREKTOR: Baden-Baden 31. Oktober 1923 PUHONNY DOERING-DRUCK Dieses Notgeld verliert seine Gültigkeit vier Wochen nach Aufruf |
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Baden-Baden's municipal administration issued this milliard-mark note during the most violent phase of the 1923 hyperinflation, when German cities and towns were printing their own emergency currency — Notgeld — because the Reichsbank simply could not produce denominations large enough fast enough to keep commerce moving. A billion marks was not an extraordinary sum by late 1923 standards; it barely covered a tram fare.
Ivo Puhonny, a Baden-Baden-based illustrator and poster artist, designed for this series — an unusual case of a locally recognized commercial artist working directly for his own municipality's emergency issue. Doering-Druck handled production in-house, which kept the entire operation within the city.