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| 正面描述 | Single-sided note printed in shades of black, light brown, green, and white on plain paper. A multicolored guilloche border frames the face, with the denomination 'Zwanzig Millionen Mark' and serial number positioned in the upper portion, followed by the main legal text body and the issuance date. In the lower register, four manuscript signatures appear between two circular Reichsbank stamp impressions. |
|---|---|
| 正面铭文 | Reichsbanknote Zwanzig Millionen Mark zahit die Reichsbankhauptkasse in Berlin gegen diese Banknote dem Geinlieferer, Vom 1. Januar 1924 ab kann diese Banknote aufgerufen und unter Umtausch gegen andere gesetzliche Zahlungsmittel eingezogen werden Berlin, den 1. September 1923 Reichsbankdirektorium Der Banknoten nachmacht oder verfälschte sich verschafft und in Vertehs bringt, wird mit Zuchthaus ichi untet zwet Jahten bestraft. (Translation: Note of Reichs Bank. Twenty million marks. The main office of Reichs bank in Berlin pays the consignor against this banknote. After January 1 1924, this banknote can be withdrawn and replaced by exchanging it for other legal tender. Berlin, September 1, 1923. Reichsbank Directorate Copying banknotes or falsifying them and selling them will be punished by imprisonment for two years.) |
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By the time this note was authorized in late July 1923, the Reichsbank was issuing denominations that would have seemed absurd twelve months earlier. The 20,000,000 Mark note entered circulation as a nominally large value but was rendered nearly worthless within weeks — the hyperinflationary spiral that summer moved faster than the printing schedule could accommodate.
Pick 108 is common in surviving stocks; vast quantities were printed and many were never meaningfully spent, simply overtaken by newer, higher denominations before they could be used.