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| 正面描述 | Printed in dark red on cream paper, the note is divided into a narrow left panel and a main text field enclosed within a dotted rectangular border. The left panel carries the large numeral '20' above the word 'MILLIONEN', alongside a circular underprint vignette of a fan-like ornamental motif. The main field bears the issuer's name, a bearer clause in German, the bold letterpress denomination 'ZWANZIG MILLIONEN MARK', the date 'Frauenau, 25. August 1923', and a manuscript signature below the issuer's repeated name. |
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| 正面铭文 | NR. M. 20 000 000.— Die Krystallglasfabrik Frauenau (J. Gistl) in Frauenau zahlt dem Vorzeiger gegen diesen Gutschein ZWANZIG MILLIONEN MARK Frauenau, 25. August 1923. Krystallglasfabrik Frauenau 20 MILLIONEN |
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Frauenau's glassworks scrip is among the more obscure corners of the German hyperinflation emergency money wave. The Krystallglasfabrik, a Bavarian glass manufacturer operating in the Bavarian Forest, issued this 20,000,000 Mark note as factory-specific notgeld — wages paid in company scrip when the Reichsbank simply could not supply enough physical currency to meet payroll. By mid-1923, that was the reality for hundreds of industrial employers across Germany.
J. Gistl's operation was small enough that these circulated almost entirely within the immediate local economy — workers spending them at nearby merchants who had little choice but to accept them. Redemption records, if they survived at all, are not publicly documented.