200 000 Mark

Nürtingen was one of hundreds of German municipalities forced into emergency currency production during the hyperinflation of 1923, when the Reichsbank simply could not print fast enough to keep pace with collapsing purchasing power. At the 200,000 Mark denomination, this note was already obsolete almost the moment it left the press — by late 1923, billion-mark notes were in circulation elsewhere.

K. Henzler was a local printer, not a security printing house. The presence of a watermark at this level of production is worth noting; many comparable Notgeld issues from smaller municipalities dispensed with security features entirely.