1000 Mark

German municipal emergency currency — Notgeld — scaled up dramatically in 1922 as hyperinflation made lower denominations functionally worthless almost as soon as they were printed. Düsseldorf, as one of the Rhineland's major industrial cities, issued high-denomination Großnotgeld through its own municipal press rather than waiting on the Reichsbank, which was itself overwhelmed. Bagel A.G. was a well-established Düsseldorf printing house with the capacity to turn these around quickly.

The watermark is the sole security feature — modest for a four-figure sum, but by mid-1922 the pace of issuance had outrun any serious attempt at counterfeiting protection.