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| 正面描述 | Typeset Notgeld issued on plain paper with a lilac-violet underprint of horizontal ruling and a geometric diamond-pattern border frame. The denomination is set in large Gothic blackletter script reading 'Zwanzig Milliarden Mark' across the centre, flanked on either side by the numeral '20', with series letter 'A' at upper left and a handwritten serial number at upper right. The lower portion carries the issuing authority text, the date of 25 October 1923, a circular municipal stamp of Singen-Hohentwiel, a manuscript signature on behalf of the Gemeinderat, and the printer's imprint at foot. |
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| 正面铭文 | Serie A. Notgeld der Stadt Singen-Hohentwiel. 20 Zwanzig 20 Milliarden Mark zahlt die Stadtgemeinde Singen-Hohentwiel dem Einlieferer dieses Scheines. Singen-Hohentwiel, 25. Oktober 1923. Für den Gemeinderat: Die Einlösung erfolgt bei der Stadtkasse, Bezirkssparkasse u. allen hiesigen Banken Nach Aufruf in den hiesigen Zeitungen verliert dieser Schein seine Gültigkeit. Singener Verlagsgesellschaft |
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Singen-Hohentwiel was a mid-sized industrial town in Baden, and like hundreds of German municipalities in late 1923, it issued its own emergency currency — Notgeld — when the Reichsbank simply could not produce denominations fast enough to keep pace with hyperinflation. By the time notes in the twenty-billion mark range were being printed, workers were famously being paid twice daily so wages could be spent before losing value by evening.
The Singener Verlagsgesellschaft was primarily a publishing house, not a security printer. That a local press was pressed into producing currency at this denomination tells you everything about how completely the conventional monetary infrastructure had broken down by autumn 1923.