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10 000 000 Mark Krupp
| Issuer | Fried. Krupp Aktiengesellschaft, Essen |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Obverse description | The obverse is dominated by an intricate violet guilloche underprint covering the main field, at the centre of which the denomination numeral '10' and the word 'MILLIONEN' are set in large bold letterpress type over 'MARK'. A secondary guilloche panel to the right carries the numeral '10' above the text 'Millionen Mark.' in a decorative lozenge-shaped frame. The issuer's name, place and date of issue appear in typeset text, with two manuscript signatures of the Direktorium above the redemption clause, and a blue serial number printed in the upper right corner. |
|---|---|
| Obverse lettering | Fried. Krupp Aktiengesellschaft, Essen nimmt für 10 MILLIONEN MARK diesen Gutschein in Zahlung bis 31. Dezember 1923. Das Direktorium: ESSEN 14. August 1923. 10 Millionen Mark. |
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| Comments |
Krupp's issuance of notgeld at astronomically high denominations in 1923 was a direct consequence of the Reichsbank's inability to supply sufficient currency for payroll during the hyperinflation peak. Large industrial employers across the Ruhr were effectively forced into private money printing simply to pay their workers on time — wages were sometimes adjusted daily to keep pace with the collapsing mark.
The ten-million mark figure, staggering by any peacetime measure, was already borderline obsolete within weeks of printing. By November 1923, a single US dollar was worth over four trillion marks.