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5 000 000 Mark
| Issuer | Magistrat der Stadt Bad Homburg vor der Höhe |
|---|---|
| Year | 1923 |
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| Composition | Paper |
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| Obverse description | Black letterpress text on cream/yellowish paper, with the municipal coat of arms of Bad Homburg vor der Höhe positioned in the upper portion. The denomination is stated in large Gothic script at the centre, with the issuing authority text above. Signatures of Oberbürgermeister Walter Lübke and Beigeordneter Dr. Ludwig Lipp appear at the foot of the note alongside the date. |
|---|---|
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| Signature(s) | Walter Lübke and Dr. Ludwig Lipp |
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| Comments |
Bad Homburg vor der Höhe — best known as a 19th-century spa resort favored by European royalty — was among the hundreds of German municipalities forced to print their own emergency currency during the hyperinflationary collapse of 1923. By the time this 5,000,000 Mark note was issued, that denomination was already losing ground to inflation by the hour. The Reichsbank had effectively abdicated responsibility for small-denomination liquidity, leaving local authorities to fill the void through whatever printers were available.
C. Naumanns Druckerei in Frankfurt handled the job. The watermarked paper was one of the few concessions to anti-counterfeiting at a moment when the economics of forgery barely made sense.