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| 正面描述 | The obverse of this Notgeld Gutschein is printed on a lilac-purple guilloche underprint with four octagonal medallion vignettes at the corners. The heading "Gutschein." appears in ornate Fraktur script at the top, followed by the overprint inscription "Aufgewertet auf 1,000,000 Mark" in gothic letterpress. The revalued denomination "Eine Million Mark" is boldly printed in large Fraktur type across the centre, with the issuing authority "Der Rat der Stadt Leipzig," the date "Leipzig den 10. Oktober 1918," and two manuscript signatures below. |
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| 正面铭文 | Gutschein. Aufgewertet auf 1,000,000 Mark Eine Million Mark Leipzig, den 10. August 1923 gegen Zurückgabe dieses Gutscheines. Der Rat der Stadt Leipzig |
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Leipzig's city council, like dozens of German municipal authorities in the summer of 1923, resorted to overprinting existing low-denomination stock rather than waiting for freshly printed Notgeld to arrive. The underlying 5 Mark note became worthless so rapidly that the overprint inflating it to one million marks was itself economically obsolete within days of issue — possibly hours, depending on the date of release relative to the hyperinflation curve of late August and September 1923.
Overprint issues from this period vary considerably in ink color, placement, and type quality, and Leipzig produced multiple overprint variants during the crisis. Distinguishing genuine municipal overprints from later philatelic reproductions requires close attention to ink absorption into the paper stock.