1 000 000 Mark

Crimmitschau was a textile-industry town in Saxony that had made headlines two decades earlier during the 1903–04 weavers' strike — one of the longest industrial labor disputes in German history. By 1923, the same working population was dealing with a different catastrophe entirely. Municipalities across Germany were authorized to issue their own emergency currency, Notgeld, as the Reichsbank's output simply could not keep pace with hyperinflation's daily demands. A million marks sounds staggering; by mid-1923 it was bus fare.

The watermark security feature on municipal Notgeld of this period was not universal — many towns used plain stock — making its presence here a minor point of distinction within the series.