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| 正面描述 | Typeset Notgeld printed entirely in red on cream paper, enclosed within a dashed rectangular border. The denomination 'Zehn Millionen Mark' is set in large blackletter script at centre, with the issuing authority's title above and validity clause below. An official municipal circular stamp and two manuscript signatures appear at foot. |
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| 背面描述 | Plain unprinted cream paper reverse, bearing only faint show-through from the obverse letterpress impression and a small handwritten notation in violet ink at upper right. |
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Laufen sits on the Salzach River directly on the Austro-Bavarian border, and by late summer 1923 that geography mattered enormously. The hyperinflation had progressed so rapidly that the municipal authority — not a bank, but the town administration itself — was issuing its own emergency currency denominated in the tens of millions. Notgeld at this scale was no longer emergency supplementary coinage; it was the functional monetary system.
J. E. Ried was a local printer, not a specialist banknote house. The limitations show.