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| 正面铭文 | Serie III Notgeld der Stadt Saalfeld (Saale) 20 Millionen Mark zahlt die Stadthauptkasse in Saalfeld (Saale) dem Einlieferer dieses Gutscheins. Der Schein verliert seine Gültigkeit nach Aufruf in den Saalfelder Tageszeitungen Saalfeld (Saale), den 26. September 1923 Der Stadtgemeinde- vorsteher: Der Gemeinderat: Wiedemannsche Druckerei A.-G., Saalfeld a.S. |
| 背面描述 | The reverse bears no independent printed design; the thin paper stock allows a faint ghost impression of the obverse guilloche, text, and municipal arms vignette to show through in mirror image, constituting the sole visible element on this side. |
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Saalfeld an der Saale was a small Thuringian town with no business issuing its own currency under normal conditions. But by mid-1923 the Reichsbank simply could not print and distribute denominations fast enough to keep pace with hyperinflation, and hundreds of German municipalities filled the gap with their own Notgeld. This 20-million-Mark note is late-stage emergency currency — by the time it was printed, a denomination that would have been unthinkable eighteen months earlier was barely sufficient for basic transactions.
Wiedemannsche Druckerei AG was a local commercial press in Saalfeld itself, which meant turnaround was fast but quality control was minimal. Most municipal issues of this period were redeemed and pulped within weeks of the November 1923 stabilization.