100 000 000 000 Mark

Giengen an der Brenz is a small Swabian town best known today as the birthplace of the Steiff teddy bear. In October 1923, its municipal treasury was printing hundred-billion-mark notes — a figure that would have been incomprehensible to any German five years earlier. The Stadtkasse issued this Notgeld locally through G. Schmid's print shop because the Reichsbank simply could not supply currency fast enough; by late 1923, the central presses were running around the clock and still falling behind inflation that doubled prices every few days.

The Rentenmark reform of November 1923 rendered the entire series worthless within weeks of printing.