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| 正面描述 | The obverse is printed in blue and red on white paper, with a decorative guilloche border composed of repeated fan and geometric motifs in red enclosing a central blue guilloche underprint. The denomination 'EINE MILLION MARK' is set in large bold letterpress type at the upper centre, above the issuing authority text and the date 'AUE I. ERZGEB., DEN 23. AUGUST 1923'. A red serial number appears at the lower left alongside a facsimile signature of the Bürgermeister, while the value '1 Million' is printed in red at the lower right, and the legend 'NOTGELD DER STADT AUE' runs across the bottom in bold capitals. |
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| 正面铭文 | EINE MILLION MARK ZAHLT DIE STADTKASSE AUE I. ERZGEB. GEGEN RÜCKGABE DIESES GUTSCHEINES AUE I. ERZGEB., DEN 23. AUGUST 1923 DER RAT DER STADT Bürgermeister 1 Million NOTGELD DER STADT AUE |
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Aue was a small Saxon mining and textile town — not a national authority, not even a regional bank — yet like hundreds of German municipalities in the summer of 1923, it was forced into the business of currency printing when Reichsbank notes simply could not be produced fast enough to keep pace with hyperinflation. This note was printed locally by the town's own press, the Auer Druck- und Verlagsgesellschaft, which under normal circumstances handled commercial jobbing work.
Municipal emergency money at this denomination was often valid for only days before becoming worthless, not from mismanagement but from arithmetic — the inflation rate in mid-1923 was doubling prices roughly every few weeks.