1 000 000 Mark

Pirmasens issued this million-mark note during the hyperinflationary collapse of 1923, when municipal authorities across Germany were compelled to print their own emergency currency — Notgeld — simply to make payroll and conduct daily commerce. The Reichsbank's inability to supply adequate denominations fast enough meant that hundreds of cities, towns, and even private firms became de facto issuers. Pirmasens, a Palatinate city whose economy was built almost entirely on shoe manufacturing, was among them.

By the time notes of this denomination entered circulation, the figure on the face was already losing purchasing power within days of issue. The currency reform of November 1923 rendered the entire series worthless at a conversion rate of one new Rentenmark to one trillion old marks.