3 000 000 000 Mark

Berlin's city government issued its own emergency currency — Notgeld — during the hyperinflation peak of 1923, when the Reichsbank simply could not print fast enough to meet demand. Municipal and regional authorities across Germany were legally permitted to issue their own notes to keep local commerce functioning, and the Magistrat of Berlin was among the largest such issuers.

By the time denominations reached the billions of marks, the purchasing power of any given note was effectively obsolete within days of printing. A 3 Milliarden note in late 1923 would not have bought a loaf of bread for long.