1 000 000 Mark

Kaiserslautern's million-mark note belongs to the frantic summer of 1923, when German municipal and corporate bodies were legally permitted — effectively required — to print their own emergency currency to meet payroll as Reichsbank supply collapsed under hyperinflation. The Stadtgemeinde issued these notes locally; the watermarked paper was likely sourced from regional stock rather than any security printer, which is why paper quality and watermark consistency vary noticeably across surviving examples.

By November 1923, the Rentenmark stabilization rendered the entire Notgeld series worthless overnight. Most municipal stocks were pulped.