200 000 000 Mark Reichsbahndirektion

The Reichsbahndirektion Frankfurt am Main was one of several regional railway directorates authorized to issue emergency currency during the hyperinflationary collapse of 1923. These were not banking institutions — they were transport bureaucracies pressed into monetary service because the Reichsbank simply could not print fast enough to meet payroll and operational demands. Railway workers needed wages denominated in figures that would have been unthinkable eighteen months earlier.

At 200,000,000 Mark, this note was already obsolescent within days of issue. By November 1923, the Rentenmark reform rendered the entire Notgeld corpus worthless overnight.