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200 000 000 Mark Deutsche Reichsbahn
| Issuer | Deutsche Reichsbahn (German State Railway) |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Paper |
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|---|---|
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| Reverse description | Unprinted plain reverse in cream-white paper, allowing the interlaced-squares watermark to show clearly; a circular official stamp and a manuscript signature appear in the lower portion, with a serial number to the lower right, consistent with emergency currency (Notgeld) administrative validation practice. |
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| Protection type | Watermark |
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| Comments |
The Deutsche Reichsbahn began issuing its own emergency currency in 1923 because the Reichsbank simply could not print fast enough to meet payroll demands. Railway workers needed to be paid — daily, in some cases — and industrial employers across Germany were authorized to produce notgeld as a stopgap. The Reichsbahn's issues are among the more institutionally credible of the lot, backed by a state enterprise with real assets rather than a municipal treasurer scrambling for paper.
By the time 200-million-mark denominations were necessary, the inflation had already destroyed most intuitive sense of value. This note would have bought roughly a loaf of bread in mid-October 1923 — and nothing at all two weeks later.