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20 000 000 000 Mark Deutsche Reichsbahn
| Issuer | Deutsche Reichsbahn (German National Railway) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Obverse description | Printed in orange on orange-tinted paper, the face carries a central vignette of a steam locomotive in motion, with the denomination "Zwanzig Milliarden Mark" rendered in bold letterpress both horizontally across the note and vertically along the left margin. Text blocks bearing the legal tender clause and issuance authority flank the central design, with the serial number printed in a contrasting tone. |
|---|---|
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| Reverse description | Printed in dark carmine-red on light paper, the reverse is divided into five engraved vignette panels arranged around a central oval medallion encircled by an oak-leaf wreath. The central oval carries a panoramic river scene with the Niederwalddenkmal monument visible on the Rhine. The upper-left panel shows a Gothic cathedral skyline (Cologne), the upper-right a riverine city panorama with a railway bridge, the lower-left an industrial steel works with cranes and smoke stacks, and the lower-right a ruined hilltop castle. The patriotic motto "Einigkeit und Recht und Freiheit" is inscribed in a banner across the centre of the composition, flanked by decorative lace-pattern borders. |
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| Comments |
The Deutsche Reichsbahn issued its own emergency currency during the hyperinflation of 1923 because the Reichsbank simply could not print fast enough to meet demand. Railway workers needed wages, and the railway administration — like hundreds of other large German employers, municipalities, and industrial firms — was legally permitted under emergency decree to issue notgeld against its own assets. Twenty billion marks sounds extraordinary, but by the time this note circulated, that denomination barely covered a tram ride.
The Reichsbahn series escalated rapidly through late 1923 as the mark's purchasing power collapsed daily. Notes of this denomination were effectively obsolete within days of issue.