1 000 000 Mark

Bad Homburg vor der Höhe was one of hundreds of German municipalities forced into emergency currency production during the hyperinflation of 1923, when the Reichsbank could not print and distribute legal tender fast enough to keep pace with collapsing purchasing power. A million marks — an almost incomprehensible figure a few years earlier — was by mid-1923 barely sufficient for basic transactions. C. Naumanns Druckerei in Frankfurt handled the presswork, with a watermarked paper stock providing at least nominal security for a denomination that would itself be obsolete within weeks of issue.