20 000 000 000 Mark

Flensburg's district treasury issued this note in the autumn of 1923 at the peak of Weimar hyperinflation, when municipal and district authorities across Germany were empowered to issue their own emergency currency — Notgeld — simply to keep commerce moving. Twenty billion marks was not an unusual denomination for that period; by November 1923 a single US dollar was worth roughly 4.2 trillion marks.

H. Geisel was a local Flensburg printer, and the three-signature authentication — Wallroth, Asmussen, and J. Thaysen — reflects the administrative oversight structure of the Landkreis rather than any banking institution. District-level Notgeld from Schleswig-Holstein is less commonly encountered than the more heavily produced urban issues.