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5 000 000 Mark Bayerische Notenbank
| Issuer | Bayerische Notenbank |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Protection type | Watermark |
| Protection description | Watermark present in the paper; specific pattern not confirmed from catalog sources. |
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| Comments |
The Bayerische Notenbank was one of four German state banks legally permitted to issue their own currency under the Reichsbank Law of 1875, a privilege that made Bavaria's inflation notes technically distinct from Reichsbank paper. By August 1923, when this 5,000,000 Mark denomination entered circulation, the figure was already nearly worthless — the hyperinflationary collapse was accelerating so rapidly that denominations in the millions became obsolete within weeks of printing.
Bavaria's separate note-issuing authority ended with the currency reform of November 1923, when the Rentenmark stabilized the system and the state banks lost their circulation privileges permanently.