3 000 000 Mark Reichsbahndirektion

The German railway administrations became emergency money issuers in 1923 not by choice but by necessity — the Reichsbank simply could not print and distribute inflationary currency fast enough to meet payroll and operational demands. The Reichsbahn-Direktion Dresden, like its counterparts in other cities, issued its own notgeld denominated against the collateral of railway assets and the anticipated income of a functioning transit system.

Three million marks sounds extraordinary until you recall that by mid-1923 that sum would not reliably buy a newspaper. This denomination dates from a window of weeks, not months, before even it became operationally useless and higher figures took over.