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2 000 000 Mark Reichsbanknote

Issuer Reichsbank
Year 1923
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In circulation to 1923
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Obverse description Single-sided letterpress note printed in black on white paper, with the right third to half of the face overlaid with a purple-violet tint band containing embedded security fibers. A large decorative initial letter occupies the upper right corner of the tinted panel, rendered in an ornate Gothic style. The text is set in Fraktur script throughout, with the serial number printed in red at the lower center.
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Reverse description Blank, unprinted reverse, consistent with the single-sided production method employed for this emergency inflation-period issue. Show-through of the obverse impression is visible on the plain paper surface.
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Comments

By August 1923, the Reichsbank was printing notes so fast that new denominations were outdated almost before they reached circulation. The 2,000,000 Mark note belongs to this phase of hyperinflation's acceleration — a point where the psychological barrier of a million marks per note had already collapsed. Within weeks of issue, such notes were functionally useless for anything beyond minor transactions, and workers famously demanded wages in multiple daily installments to spend earnings before the afternoon exchange rate eroded them further.

The watermark is the sole security feature — an increasingly hollow gesture on a note whose lifespan in meaningful commerce was measured in days.

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