By October 1923, German hyperinflation had advanced so far that this 100-trillion-Mark note — one of the highest face-value denominations ever issued by the Reichsbank — was worth roughly four U.S. dollars on the day of printing and considerably less by the time it crossed a shop counter. The Reichsbank was authorizing new denominations almost weekly, and the printing infrastructure could not keep pace; some notes in this period were overprinted on existing stock or issued with single-sided printing to save time.
The Rentenmark stabilization of November 15, 1923 rendered the entire Papiermark series worthless overnight. One Rentenmark exchanged at one trillion Papiermark — making this note worth one ten-thousandth of a single new unit.
By October 1923, German hyperinflation had advanced so far that this 100-trillion-Mark note — one of the highest face-value denominations ever issued by the Reichsbank — was worth roughly four U.S. dollars on the day of printing and considerably less by the time it crossed a shop counter. The Reichsbank was authorizing new denominations almost weekly, and the printing infrastructure could not keep pace; some notes in this period were overprinted on existing stock or issued with single-sided printing to save time.
The Rentenmark stabilization of November 15, 1923 rendered the entire Papiermark series worthless overnight. One Rentenmark exchanged at one trillion Papiermark — making this note worth one ten-thousandth of a single new unit.