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100 000 000 Mark Henschel & Sohn

Issuer Henschel & Sohn G.m.b.H., Kassel
Year 1923
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Value 100 000 000 Mark (100 000 000)
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Obverse description The obverse is printed on an ochre background with an ornate decorative border. A central vignette presents a period steam locomotive in profile. The denomination and issuer details are inscribed in the upper and lower registers, with the text arranged in letterpress style typical of German Notgeld issues of the hyperinflationary period.
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Reverse description The reverse presents a detailed vignette of the historic Henschel locomotive 'Drache' (factory number 1848) alongside a view of the Henschel foundry at the Müncheberg in Kassel as it appeared in 1837, evoking the firm's industrial heritage. The composition is enclosed within an ornate leaf-motif border. The denomination '100 Millionen Mark' is inscribed at the top in stylized typeface, with the issuer's name repeated at the base.
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Henschel & Sohn was one of Germany's major industrial manufacturers — locomotives, artillery, eventually tanks — and like hundreds of German firms in the summer and autumn of 1923, they were forced to issue their own emergency currency, or Notgeld, simply to meet weekly payrolls. Hyperinflation had outpaced the Reichsbank's ability to supply denominations large enough to be useful, so employers became de facto money printers. The 100,000,000 Mark figure, staggering by any pre-war measure, was already losing purchasing power by the time the ink dried.

Printed locally by Wenderodt in Kassel, the note circulated exclusively as factory scrip within Henschel's wage economy.

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