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2 000 000 Mark Phoenix, overstamp on 5000 Mark
| Issuer | Phoenix Aktien-Gesellschaft für Bergbau und Hüttenbetrieb, Abteilung Hoerder Verein |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | 2 000 000 Mark (2 000 000) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Gültig für den vierhundertfachen Betrag Zwei Millionen Gutschein Nr. "Phoenix" Hör. Hoerder Verein. Fünftausend Mark Hoerde i. Westf. 20. Februar 1923. "Phoenix" Aktien-Gesellschaft für Bergbau u. Hüttenbetrieb Abteilung Hoerder Verein Dieser Gutschein muß nach Aufruf bei unserer Hauptkasse in Hoerde oder bei der Städtischen Sparkasse in Hoerde oder bei der Darmstädter und Nationalbank in Dortmund zur Einlösung eingereicht werden. |
| Reverse description | The reverse is unprinted, consisting of plain white paper stock with faint show-through of the obverse guilloche underprint visible under raking light, consistent with the lightweight paper used for this Notgeld issue. |
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| Comments |
Phoenix Aktien-Gesellschaft für Bergbau und Hüttenbetrieb was one of the major Ruhr steel and mining conglomerates, and like dozens of large industrial firms during the hyperinflation peak of 1923, it issued its own emergency currency — Notgeld — to meet payroll when Reichsbank notes couldn't be printed fast enough to keep pace with collapsing purchasing power. This note is a 5,000 Mark base note overstamped to 2,000,000 Mark, a revaluation that captures precisely how rapidly denominations became obsolete that summer and autumn.
The overstamp practice was a cost-saving measure: rather than commission entirely new print runs for each new denomination, firms simply had existing stock overprinted at the factory or by the original printer. J.C. König & Ebhardt in Hannover were prolific producers of industrial Notgeld during this period.