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| 正面描述 | Cream-coloured emergency note (Notgeld) with an all-over circular guilloche underprint across the entire field. The denomination 'Einhunderttausend Mark' is set in large bold Gothic letterpress type within a decorative border of interlocking ornamental chain devices, preceded by the clause 'Gut für' above and redemption and validity conditions below; the issuer's name and sub-division appear in bold at the foot, beneath which two manuscript authorisation signatures are applied in violet ink. Series letter 'C' is printed at upper left, with a handstamped serial number and asterisk at upper right. |
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| 正面铭文 | 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 |
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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.