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100 000 000 000 Mark
| Issuer | Landeshauptstadt Karlsruhe (City of Karlsruhe) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | Landeshauptstadt Karlsruhe 100 MILLIARDEN MILLIARDEN MARK MARK Diese Schein wird von den Städt. Kassen in Zahlung genommen und eingelöst auf Anruf in den Karlsruher Zeitungen NOVEMBER 1923 DER STADTRAT A.KUSCHE DRUCK F.THIERGARTEN |
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| Reverse lettering | LANDESHAUPTSTADT KARLSRUHE GUTSCHEIN 100 Milliarden MARK 100 |
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| Comments |
By the time Karlsruhe issued this 100-billion Mark note in late 1923, the Reichsbank had effectively lost control of the money supply and authorized municipalities, private firms, and regional authorities to print their own emergency currency — Notgeld — simply to keep commerce functioning. Karlsruhe was among hundreds of German cities issuing paper in denominations that would have been considered absurd twelve months earlier.
Thiergarten was a local Karlsruhe printer, not a specialist security press, which is typical of the desperation economics driving late-phase hyperinflation notgeld. Kusche's design credit is unusually specific for municipal emergency issues of this period.