50 000 000 000 Mark

One of thousands of Notgeld issues produced by German municipalities during the hyperinflationary collapse of 1923, this fifty-billion-mark note from Passau was printed locally by Ablassmayer & Penninger — a practical necessity when denominations were escalating faster than centralized printing could supply. By the time notes at this level were being circulated, the Reichsmark had lost virtually all meaning; workers were being paid twice daily so wages could be spent before the afternoon exchange rate made them worthless.

The Rentenmark reform of November 1923 rendered the entire Notgeld series obsolete almost overnight.