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| 正面描述 | Notgeld issued by the Reichsbahn-Direktion Dresden, printed on pale rose-tinted paper with an intricate guilloche underprint border framing the entire face. The denomination 'Hundert Millionen Mark' is set in bold Gothic blackletter script at centre, above a text passage stating the note is redeemable at Reichsbahn cashiers within the jurisdiction of the undersigned Direktion. The lower portion carries the issuing authority's circular embossed stamp bearing the Imperial eagle, flanked by manuscript signatures of the President and Hauptkasse, with the date 'Dresden, den 25. September 1923' and serial number to the right. |
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| 正面铭文 | Gutschein der Reichsbahn-Direktion Dresden Hundert Millionen Mark zahlen die Kassen der Reichsbahn im Bereiche der unterzeichneten Reichsbahn-Direktion gegen Rückgabe dieses Gutscheines. Dresden, den 25. September 1923 No 043231 Reichsbahn-Direktion Der Präsident: Hauptkasse: |
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The Reichsbahn-Direktion Dresden was one of dozens of regional railway administrations that issued emergency currency — Notgeld — during the hyperinflation of 1923, when the Reichsmark's collapse outpaced the Reichsbank's ability to supply physical notes. Railways were among the largest employers in Germany, and regional directorates were authorized to issue their own scrip to meet payroll when official currency simply wasn't available in sufficient quantities or denominations.
The embossed stamp served as the primary authentication measure — cheap to apply, difficult to fake with the equipment available to opportunistic counterfeiters in 1923. By the time this note was issued, 100 million marks bought roughly a loaf of bread.