10 000 Mark Württembergische Notenbank

The Württembergische Notenbank was one of four German private note-issuing banks — alongside the Bayerische, Sächsische, and Badische Notenbanken — permitted to continue issuing currency alongside the Reichsbank under the German Banking Act of 1875. By early 1923, that arrangement was being stress-tested beyond anything its architects anticipated. The hyperinflationary spiral of that year forced every issuing institution in Germany to print in denominations that would have seemed absurd eighteen months earlier, and 10,000 Mark was already a transitional figure — quickly obsolete as the inflation accelerated through summer and autumn.

The Stuttgart printing location is consistent with the bank's own facilities; the Württembergische Notenbank maintained tighter geographic control over its production than some contemporaries who outsourced to Reich printers under pressure.