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20 000 000 000 Mark Sächsische Bank
| Issuer | Sächsische Bank zu Dresden |
|---|---|
| Year | 1923 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 20 MILLIARDEN(4) SÄCHSISCHE BANKNOTE ZWANZIG MILLIARDEN MARK zahlt die Sächsische Bank zu Dresden gegen diese Banknote dem Einlieferer Dresden,den 20.Oktober 1923 SÄCHSISCHE BANK ZU DRESDEN Staatsvertreter Direktor(2) |
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| Protection description | Kleines Giesecke-Stimmgabel (Keller#49) |
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| Comments |
The Sächsische Bank zu Dresden was one of four German private note-issuing banks still operating in 1923, and like the others it found itself printing emergency denominations it had never anticipated. This 20-billion Mark note was issued during the hyperinflation peak — by October 1923, a single U.S. dollar was worth roughly 4.2 trillion Marks, meaning this note represented a fraction of a modest purchase.
Giesecke & Devrient, headquartered in Leipzig, had the geographic advantage of being the Sächsische Bank's nearest major printer. Production speed mattered far more than security at this stage; the watermark was retained largely as a holdover from pre-crisis printing standards rather than any practical anti-counterfeiting concern.