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1 000 000 000 Marks 1923 overprint on 1000 Mark P-82

Issuer Reichsbank
Year 1923
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Value 1 000 000 000 Mark (1 000 000 000)
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Obverse lettering Reichsbanknote Eine Milliarde Mark zahlt die Reichsbankhauptkasse in Berlin gegen diese Banknote dem Einlieferer Berlin, den 15. Dezember 1922 Reichsbankdirektorium
(Translation: Reichs Banknote One Billion Marks The Reichsbank Main Branch in Berlin will pay the holder of this note 1 billion Marks. Berlin, the 15th of December 1922 Reichs Bank Directorate )
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Protection type Watermark
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Comments

By late 1923, the Reichsbank was redenominating existing stock rather than waiting for fresh print runs — a practical response to inflation that was outpacing the physical capacity of every contracted printer in Germany. This note began life as a standard 1000 Mark issue and was overprinted to one billion Marks, a denomination that would itself become worthless within weeks. The Rentenmark stabilization of November 1923 came at a rate of one trillion paper Marks to one Rentenmark, which gives some measure of where this billion stood on the scale.

The overprint series is frequently misidentified in collections. P#113 is the overprint on the 1000 Mark P-82 specifically — the base note matters for attribution.

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