5 000 000 000 Mark

Danzig's status as a Free City under League of Nations protection from 1920 onward left it economically entangled with Weimar Germany while nominally independent — which meant it imported Germany's hyperinflation wholesale. By late 1923, municipal emergency issues were reaching denominations that would have been inconceivable two years earlier. This note, printed locally, was part of the city's own Notgeld response to the collapse in purchasing power rather than a Reichsbank instrument.

The five-billion mark denomination places this firmly in the terminal phase of the inflation crisis, issued weeks before the Rentenmark stabilization of November 1923 effectively ended the emergency.