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100 000 Mark Klöckner-Werke
| Issuer | Klöckner-Werke A.-G., Abt.: Hasper Eisen- und Stahlwerk |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | 100 000 Mark (100 000) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | C No Gut für Einhunderttausend Mark einzulösen bei der Hauptkasse. Dieser Schein wird ungültig 14 Tage nach Bekanntmachung. Haspe, den 7. August 1923. Klöckner-Werke A.-G. Abt.: Hasper Eisen- und Stahlwerk |
| Reverse description | The reverse is unprinted, presenting plain cream-coloured paper stock with show-through of the obverse guilloche underprint and text visible as a faint mirror image through the thin paper. No additional text, vignette, or security device is present. |
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| Comments |
Klöckner-Werke's Hasper iron and steel works was one of hundreds of German industrial firms that issued emergency notes — Notgeld — during the hyperinflation of 1923, when the Reichsbank simply could not print currency fast enough to meet payroll demand. Factory workers needed to be paid in something, and waiting for official notes meant wages lost a measurable fraction of their value between disbursement and the walk to the nearest shop.
Notgeld issued by private industrial employers was typically redeemable only at company facilities or approved local merchants, creating a closed circulation loop that insulated it — briefly — from the worst of the open-market depreciation spiral. The 100,000 Mark denomination, unthinkable just two years earlier, was routine by mid-1923.