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1 000 000 Mark Ostelbisches Braunkohlensyndikat
| Issuer | Ostelbisches Braunkohlensyndikat G.m.b.H. |
|---|---|
| Year | 1923 |
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| Reference(s) | DeNG 7/8#364 |
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|---|---|
| Obverse lettering | Notgeld für den ostelbischen Braunkohlenbergbau Das Ostelbische Braunkohlensyndikat G.m.b.H., Berlin, zahlt gegen diesen Notgeldschein binnen einem Monat nach Aufruf durch öffentliche Bekanntmachung einen Betrag von Eine Million Mark (Reichspapiergeld) Genehmigt durch Verfügung des Reichsfinanzministers und des Handelsministers Berlin NW7, im August 1923 Braunkohlenhaus Ostelbisches Braunkohlensyndikat G.m.b.H. |
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| Reverse lettering | NOTGELD EINE MILLION MARK BRAUNKOHLENSYNDIKAT BERLIN NW7 |
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| Comments |
The Ostelbisches Braunkohlensyndikat — the East Elbian Brown Coal Syndicate — was one of the regional industrial associations that resorted to emergency currency during the hyperinflation of 1923, when the Reichsmark's collapse made it impossible to pay workers in legal tender fast enough to retain any value. Notgeld issued by coal syndicates and mining concerns was common in the lignite-rich regions east of the Elbe, where large workforces required weekly, sometimes daily, payroll disbursements.
The million-mark denomination places this squarely in mid-1923, before the truly astronomical figures of the autumn rendered even this sum nearly worthless within days of printing.