Catalog
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| Issuer | Reichsbank |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | 125 × 80 mm |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Uniface letterpress note printed in black, with a purple guilloche underprint concentrated toward the right margin. The text block occupies the full face of the note, with the denomination and legal text set in a traditional German serif typeface; series letters appear in purple. No pictorial vignette is present, consistent with the emergency inflation-era production aesthetic. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Log in to see details |
| Signature(s) | Log in to see details |
| Protection type | Log in to see details |
| Protection description | P#104a: Hooked stars watermark; P#104b: Rings watermark; P#104c: Grid watermark |
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| Comments |
By August 1923, when this denomination entered circulation, the Reichsbank was printing notes faster than it could distribute them. The 2,000,000 Mark figure — grotesque by any prewar standard — was already insufficient within weeks. Retailers were quoting prices in the billions before the month was out, and notes of this value were being used in bundles simply to buy bread.
The watermark is the sole security feature, a detail that speaks to how little counterfeiting concerned authorities at this stage. Who would bother forging a note that lost most of its purchasing power between printing and distribution?