5 000 000 Mark

Neumarkt in der Oberpfalz was one of hundreds of German municipalities that resorted to printing their own emergency currency during the hyperinflation of 1923, when the Reichsmark was losing value faster than the Reichsdruckerei could supply notes. By the time denominations reached the millions, local treasuries — Stadtkassen — had little choice but to self-issue, often on whatever paper stock was available, with rudimentary typography and minimal security features.

The five-million mark denomination places this note firmly in the mid-to-late phase of the crisis, before the November 1923 Rentenmark stabilization rendered the entire Notgeld system obsolete almost overnight.