2 000 000 000 Mark

Freital was a young city when this note was printed — incorporated only in 1921 through the administrative merger of several industrial towns south of Dresden, including Döhlen, Deuben, and Potschappel. The Inflationszeit forced municipalities across Germany to issue their own emergency currency, and Freital was no exception. At two billion marks, this denomination reflects the terminal phase of the hyperinflation: by late 1923, notes of this face value were functionally worthless within weeks of printing.

Pässler's Dresden-Neustadt operation handled a significant volume of Notgeld work during this period, which is worth noting — the guilloche underprint suggests at least a nominal attempt at anti-counterfeiting, somewhat absurd given the pace at which the currency was collapsing.