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200 000 000 Mark Krupp

Issuer Fried. Krupp Aktiengesellschaft, Essen
Year 1923
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Value 200 000 000 Marks (200 000 000)
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Obverse description The obverse is printed in dark purple on an orange-brown guilloche underprint, with the main text set in elaborate blackletter (Fraktur) script across the centre. A dense rosette guilloche vignette occupies the central field, flanked by the issuer legend at top and the denomination '200 Millionen Mark' in large bold blackletter. To the right, a separate octagonal guilloche panel carries the numeral '200' with 'Millionen Mark' below. The date of issue 'Essen, 5. September 1923' appears at lower left, with the validity clause and two manuscript signatures of the Direktorium at lower centre-right.
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Reverse lettering 200 Millionen 200
200 Millionen 200
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Comments

Krupp's Essen steel works issued its own emergency currency — Notgeld — during the hyperinflation peak of 1923, when the Reichsbank simply could not print fast enough to meet payroll demands at a factory complex employing tens of thousands. A 200,000,000 Mark denomination sounds extraordinary, but by August 1923 it barely covered a day's wages. Industrial giants like Krupp had both the authority and the practical necessity to issue their own scrip, redeemable at company cashier offices.

Krupp Notgeld was denominated in Mark, not in the stabilized Rentenmark that replaced the collapsed currency in November 1923 — making this note functionally worthless within weeks of issue.

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