300 000 Mark Anhaltische Kohlenwerke

Anhaltische Kohlenwerke was a coal mining company based in Halle an der Saale, and like hundreds of German industrial firms during the hyperinflation of 1923, it issued its own emergency currency — Notgeld — to meet payroll when the Reichsbank simply could not supply enough physical banknotes to keep pace with collapsing purchasing power. The 300,000 Mark denomination places this note squarely in the mid-1923 period, before the astronomical figures of the autumn made even million-Mark notes feel inadequate within days of issue.

Corporate Notgeld of this type was legally permissible under emergency provisions but carried no guarantee beyond the issuing firm's own solvency.