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5 000 000 Mark Reichsbahndirektion
| Issuer | Reichsbahndirektion Altona |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Fünf (2) Gutschein der Reichsbahndirektion Altona über 5 MILLIONEN MARK Dieser Gutschein wird bis zum 31.August 1923 von allen Eisenbahnkassen des Reichsbahndirektionsbezirks in Zahlung genommen oder im Überweisungswege vergütet. Altona,8.August 1923. Reichsbahndirektion |
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| Protection type | Watermark |
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| Comments |
The Reichsbahndirektion Altona was one of several regional railway directorates authorized to issue emergency currency — Notgeld — during the hyperinflationary collapse of 1923. These were not banking institutions but administrative arms of the state railway system, pressed into the money-printing role simply because the Reichsbank could not supply denominations fast enough to meet payroll and daily transactions. By the time five-million-mark notes were necessary, the denomination itself would be functionally worthless within days of printing.
The watermark security feature on a note of this type is notable — most Notgeld issues at the height of hyperinflation dispensed with such measures entirely, given the pointlessness of securing currency with a shelf life measured in hours.