1 000 000 Mark

Baden-Baden issued its own emergency currency — Notgeld — like hundreds of other German municipalities scrambling to fill the void left by hyperinflation that had rendered Reichsbank notes functionally worthless before they could even be spent. By mid-1923, the inflation was moving so fast that local authorities were printing million-mark denominations not as extraordinary measures but as routine payroll instruments.

The DeNG reference places this within a well-documented but sprawling series; the "d" suffix indicates a specific paper or print variant within the type. Baden-Baden's municipal issues from this period are generally less sought after than the more artistically ambitious Notgeld produced in the inflationary wave of 1921–22 — this is utility printing, not collector bait.