100 000 Mark Württembergische Notenbank

The Württembergische Notenbank was one of four private German note-issuing banks — alongside the Bayerische Notenbank, Sächsische Bank, and Badische Bank — permitted to continue issuing circulating notes under the Reichsbank Law of 1875. By the time this 100,000 Mark note was printed in 1923, that privilege had become a burden: the inflation was accelerating so rapidly that denominations became obsolete within weeks of issue, and print runs in the millions still couldn't keep pace with demand.

The 12.175 million printed places this squarely in the mid-1923 surge, before the truly astronomical figures of the autumn Papiermark collapse.