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| 正面描述 | Green letterpress note with a vertical left panel bearing the Bavarian coat of arms surmounted by a crown, above a scroll cartouche with the denomination numeral 5000000 and the serial number field below in red. The right panel carries the title ZAHLUNGSANWEISUNG at the top, followed by the large denomination legend FÜNF MILLIONEN MARK in bold display lettering, with the issuing terms, date Kelheim, 7. Sept. 1923, and the authority signature block STADTRAT KELHEIM / 1. Bürgermeister. A faint architectural vignette forms a light underprint across the right field. The printer's imprint of Graphische Kunstanstalt Heinr. Schiele, Regensburg appears at the foot of the left panel. |
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| 背面铭文 | STADT KELHEIM FÜNF MILLIONEN MARK 5000000 E. REICHL. (Translation: CITY OF KELHEIM FIVE MILLION MARK 5000000 E. Reichl.) |
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| 防伪类型 | 登录 以查看详情 |
| 防伪描述 | 登录 以查看详情 |
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Kelheim's five-million Mark note dates from the hyperinflation peak of summer 1923, when German municipal authorities — with no legal mandate to issue currency — did so anyway out of sheer necessity. The Reichsbank simply could not print and distribute notes fast enough to keep pace with the collapse. Hundreds of German towns issued their own Notgeld at inflating denominations, often within days of each other as the exchange rate moved by the hour.
Heinrich Schiele's Regensburg shop produced a large volume of regional emergency currency during this period. E. Reichl's design credit is unusually specific for a piece of municipal desperation printing.