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100 Mark overstamp on 5 Mark

Issuer City of Gera (Thuringia)
Year 1922
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In circulation to 8 November 1922
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Obverse lettering Gutschein der Haupt- u. Residenzstadt Gera 100 M. Hundert Mark Gera, d. 25. Sept. 1922 Oberbürgermeister
(Translation: Voucher of the Capital- and Residential-City of Gera One Hundred Marks Gera, the 25th of September 1922 Lord Mayor)
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Reverse lettering Gutschein 100 Mark ---------------- zahlt die Kämmerei- Hauptkasse für diesen Schein bis 8. Nov. 1922 ---------------- Gutschein der Haupt- u. Residenzstadt Gera
(Translation: Voucher 100 Marks will be paid for this note by the consolidated main bank until the 8th of Nov. 1922)
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Comments

Gera's decision to overprint existing 5 Mark stock at 100 Mark was a direct response to the accelerating inflation of 1922, when municipal authorities across Thuringia were scrambling to produce emergency Notgeld of higher denominations faster than conventional printing allowed. Reusing lower-denomination sheets and stamping a new value over them was quicker and cheaper than commissioning fresh designs — the watermarked paper provided a ready-made substrate with at least nominal security.

The overprint itself is the document. What you are looking at is a municipality improvising monetary infrastructure in real time.

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