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| Issuer | Stadtrat Karlsruhe (City Council of Karlsruhe) |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Mark (1914-1924) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | LANDESHAUPTSTADT KARLSRUHE FÜNF MILLIARDEN MARK GUTSCHEIN DER STADTRAT DEN 25. AUGUST 1923 Diese Schein wird von den städtischen Kassen in Zahlung genommen und nach Aufruf in den Karlsruher Zeitungen eingelöst. |
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| Protection type | Embossed stamp |
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| Comments |
Karlsruhe's city council, like hundreds of German municipal authorities in late 1923, was forced into the absurd position of issuing its own billion-mark emergency currency simply to meet payroll. The five-billion-mark denomination places this note in the final weeks of the hyperinflation peak — by November 1923, the Reichsbank's own notes were struggling to keep pace with daily price movements, and notgeld of this magnitude was already becoming obsolete before the ink dried.
The embossed stamp was a practical anti-counterfeiting measure at a time when the cost of sophisticated intaglio security made little economic sense — the note's face value would halve within days regardless.