10 000 000 Mark

Lichtenstein-Callnberg — a small Saxon textile town, not the principality — issued this note at the absolute peak of the Weimar hyperinflation spiral. By late 1923, municipal treasuries across Saxony were printing their own emergency currency simply to make payroll; the Reichsbank could not supply denominations fast enough to keep pace with daily price movements. The Ratsdruckerei R. Dulce in nearby Glauchau handled production for several regional issuers during this period, which means the printing quality is competent but not elaborate.

The watermarked paper is the only meaningful security feature — a reasonable precaution given how rapidly such notes were counterfeited in this period, even at denominations that would be worthless within weeks.