20 000 000 000 Mark

Freital, incorporated as a city only in 1921 through the merger of several Saxon industrial communities, was barely two years old when it issued this note. The 20 billion Mark denomination places it squarely in the final weeks of Weimar hyperinflation, when municipal authorities across Germany were compelled to print their own Notgeld simply to meet payroll — Reichsbank notes were arriving so devalued that new denominations were obsolete before distribution was complete.

Johannes Pässler operated out of Dresden-Neustadt and handled emergency currency for several Saxon municipalities during this period. The note's sheer face value, routine by late October 1923, was functionally worthless within days of issue.