100 000 Mark Reichsbanknote

February 1923. The Reichsbank was already printing denominations unthinkable two years earlier, and this 100,000 Mark note arrived as inflation was accelerating but had not yet reached its terminal velocity — that came in the autumn, when even this figure became effectively worthless within days of issue. The note belongs to a sequence of emergency high-denomination issues that the Reichsbank pushed through its own printing facilities in Berlin, unable to rely solely on outside contractors as demand overwhelmed capacity.

By November 1923, 100,000 Mark would not buy a postage stamp.