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| 正面描述 | Notgeld issued by Phoenix Aktien-Gesellschaft für Bergbau und Hüttenbetrieb, printed in dark brown and green on cream paper. The face is framed by a geometric border with diagonal corner panels bearing the numeral '5' and the word 'MILLIONEN'; a large green underprint of the word 'PHOENIX' in block letters fills the centre field, over which the denomination 'Fünf Millionen Mark' is set in bold Gothic blackletter script on a contrasting dark horizontal band. The lower portion carries the issuer's name, place and date of issue (Düsseldorf, 15. August 1923), two manuscript signatures, and the printer's imprint 'L. Schwann-Düsseldorf', with a handwritten serial number at lower right. |
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| 正面铭文 | PHOENIX Aktien-Gesellschaft für Bergbau u. Hüttenbetrieb Fünf Millionen Mark Dieser Gutschein hat bis einen Monat nach Widerruf Gültigkeit und wird bei den in den Tageszeitungen angegebenen Stellen eingelöst PHOENIX Aktien-Gesellschaft für Bergbau und Hüttenbetrieb Düsseldorf, 15. August 1923 L. Schwann-Düsseldorf 5 MILLIONEN |
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Phoenix AG was one of the largest integrated iron and steel concerns in the Ruhr, operating mines and smelting works across the Rhine-Westphalia industrial belt. Like dozens of other heavy industrial firms in 1923, it entered the Notgeld market not by choice but by necessity — the Reichsbank simply could not print fast enough to keep pace with hyperinflation, and companies needed physical currency to meet weekly payrolls in denominations that made arithmetic sense at the time.
L. Schwann was a natural choice: a Düsseldorf printer with long experience in commercial and industrial work, well positioned to turn around large runs quickly for Ruhr clients.