20 000 000 000 Mark Ueberlandzentrale Anhalt

Ueberlandzentrale Anhalt was a regional electricity utility, and this note is among the more unusual examples of German Notgeld in that it was issued jointly with the Städtische Kreissparkasse Dessau — a municipal savings institution acting as the redemption guarantor. The pairing of an energy company with a savings bank as co-issuers was an administrative workaround common in the Anhalt region during the hyperinflationary peak of late 1923, when municipal and quasi-public bodies scrambled to produce emergency currency faster than the Reichsbank could supply it.

The twenty-billion-mark denomination places it firmly in the final, most frantic phase of the inflation, when such face values became obsolete within days of printing.