10 000 000 Mark

Göppingen's municipal authority — the Amtskörperschaft rather than the city itself — issued this 10-million Mark note during the peak inflationary spiral of summer-autumn 1923, when German local bodies were legally permitted to issue emergency currency (Notgeld) to keep commerce moving after Reichsbank notes became functionally worthless faster than they could be printed and distributed.

The Keller reference 1828f indicates this is a specific variant within a closely sequenced set, suggesting the Amtskörperschaft issued multiple denominations or printings in rapid succession as the zeros multiplied. Watermarked paper was unusual for municipal Notgeld at this level and implies use of commercial-grade stock rather than purpose-printed emergency sheets.