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150 Mark Bond

Issuer Hauptverwaltung der Staatsschulden (Prussian State Debt Administration)
Year 1922
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Currency Mark (1873-1923)
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Obverse description Horizontal coupon printed in olive-green and black on white paper, with intricate guilloche underprint at left and right margins. A central oval vignette bears the Prussian eagle seal of the Hauptverwaltung der Staatsschulden, flanked by the denomination '150 M.' in bold letterpress at right. A boxed date '1.7.24' appears at lower right, with multiple authorising signatures printed below the main text block.
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Reverse description Plain unprinted reverse of off-white paper, showing show-through of the obverse text. A centrally placed embossed dry stamp bears the Prussian eagle within a circular legend of the Hauptverwaltung der Staatsschulden, applied as an authentication seal.
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Comments

Prussia's Hauptverwaltung der Staatsschulden had administered sovereign debt instruments since the Napoleonic era, but by 1922 the institution was issuing obligations into a currency that was already disintegrating. The 150 Mark denomination is an odd figure — not a round sum typical of bond series — which likely reflects a consolidation of earlier fractional obligations or a deliberate intermediate tranche in a larger issuance program tied to reparations-era fiscal scrambling.

The embossed stamp and watermark security pairing was standard for Prussian debt paper, though by mid-1922 such precautions were largely academic. Hyperinflation rendered the real value of a fixed-Mark bond negligible within months of issue.

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