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10 000 000 Mark Reichsbanknote
| Issuer | Reichsbankdirektorium |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Mark (1873-1923) |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Protection type | Log in to see details |
| Protection description | Hakensterne (hooked stars) watermark, as found on the P-106a variety. |
| Variants | P#106a - Watermark: hakensterne (hooked stars) P#106b - Watermark: figures |
| Comments |
One of dozens of emergency denominations rushed into circulation during the hyperinflationary collapse of 1923, when the Reichsbank was printing faster than the economy could absorb. By the time notes of this denomination reached the public in late July 1923, their purchasing power was already eroding within hours of issue — workers were reportedly paid twice daily so wages could be spent before the next price adjustment.
The watermark was the sole security feature; everything else was sacrificed to speed. Paper quality varied noticeably across surviving examples due to raw material shortages at the mills supplying the Berlin presses.