2 000 000 000 Mark Badische Bank, overprint on 20 000 000 Mark

Badische Bank's 2-billion Mark note is not a distinct printing — it is a provisional overprint applied to existing 20-million Mark stock, the denominator having been rendered obsolete within weeks by hyperinflation accelerating faster than new plates could be prepared. This kind of surcharging was common across German regional issuers in late 1923, as Reichsbank policy simultaneously tried to stabilize the currency while regional banks scrambled to keep denominations usable at street level.

The overprint multiplies the face value by a factor of 100. By the time notes like this circulated, the daily inflation rate could render that multiplication meaningless before the note changed hands twice.