10 000 000 000 Mark Reichsbanknote

By late 1923, Germany's hyperinflationary spiral had pushed the Reichsbank into printing denominations that would have been unthinkable eighteen months earlier. This 10-billion Mark note — the Reichsbanknote zu zehntausend Millionen Mark — was itself obsolete within weeks of issue, overtaken by the 100-billion denomination that followed as the crisis peaked in November 1923.

The Reichsdruckerei was running presses around the clock, and quality control suffered accordingly. Paper stock varied between print runs, and many surviving examples show ink transfer from stacking before the sheets had fully dried.

Stabilization came on 15 November 1923 with the introduction of the Rentenmark at a conversion rate of one trillion old Marks to one new unit.