1 000 000 000 Mark Sächsische Staatsbank

The Sächsische Staatsbank was one of several German regional banks authorized to issue emergency currency during the hyperinflationary spiral of 1923, when the Reichsbank's own output could not keep pace with denominations climbing into the billions and trillions. Saxony's political situation that autumn added a specific urgency — the state government, briefly under SPD-KPD coalition control, was placed under Reich executive enforcement in October 1923, an intervention that effectively ended the state's administrative independence for a period. The Staatskommissar signature reflects the oversight structure imposed on Saxon institutions during this crisis.

A billion-mark note that was almost certainly inadequate by the time it reached circulation.