50 000 000 000 Mark

Arnswalde — today Choszczno in northwestern Poland — was one of hundreds of German municipalities forced to print their own emergency currency during the hyperinflation of 1923, as the Reichsbank's own output could not keep pace with the collapsing value of the Mark. By the time denominations reached the fifty-billion range, wages were being paid daily, sometimes twice daily, and the practical shelf life of a note between printing and worthlessness was measured in hours.

The inclusion of a watermark by a small-town printer like Buchdruckerei Wendt is worth noting — many Notgeld issues at this denomination level dispensed with security features entirely, given the futility of counterfeiting currency that would be worthless before a forgery could circulate.