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1 000 000 Mark Phoenix, overstamp on 5000 Mark
| Issuer | Phoenix Aktien-Gesellschaft für Bergbau und Hüttenbetrieb, Abteilung Hoerder Verein |
|---|---|
| Year | 1923 |
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| Value | 1 000 000 Mark (1 000 000) |
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| Obverse description | This Notgeld Gutschein is printed on a base 5000 Mark note in dark grey-black, its face framed by an intricate guilloche border with corner rosettes each bearing the numeral '5000'. A bold red overstamp across the upper portion reads 'Eine Million Mark' and 'Gültig für den zweihundertfachen Betrag', revaluing the note to 1,000,000 Mark. The central vignette carries the original denomination 'Fünftausend Mark' in heavy Gothic letterpress within an ornate oval guilloche panel, with the issuing firm's name, date, and two manuscript signatures at lower right. |
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| Obverse lettering | Gültig für den zweihundertfachen Betrag Eine Million Mark Gutschein Nr. 058056 "Phoenix" Abt. Hoerder Verein Fünftausend Mark Hoerde i. Westf., 20. Februar 1923. "Phoenix" Aktien-Gesellschaft für Bergbau u. Hüttenbetrieb Abteilung Hoerder Verein Dieser Gutschein muß nach Aufruf bei unserer Hauptkasse in Hoerde oder bei der Städtischen Sparkasse in Hoerde oder bei der Darmstädler und Nationalbank in Dortmund zur Einlösung eingereicht werden. |
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Phoenix Aktien-Gesellschaft für Bergbau und Hüttenbetrieb was a major Ruhr steel and mining conglomerate, and like hundreds of large German industrial firms in 1923, it issued emergency currency — Notgeld — when the Reichsbank simply could not supply enough physical notes to meet hyperinflationary demand. This particular piece is a provisional: a 5,000 Mark note overstamped to read 1,000,000 Mark, a practice that became routine as denominations became obsolete within days of printing.
The Hoerder Verein division, based in Hörde near Dortmund, had deep roots in Westphalian heavy industry. Workers needed to be paid, and they needed notes they could spend the same day they received them.