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50 000 000 000 Mark
| Issuer | Stadtgemeinde München (City of Munich) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Obverse description | Notgeld issued as an inflationary overprint on an earlier Munich municipal note. A large ornate Gothic initial 'F' occupies the left field, incorporating the circular arms of Munich at its base. The original denomination of 50 Millionen Mark is struck through with a heavy black bar overprint, and the new value '50 Milliarden' is typeset above in bold letterpress; a second bar cancels the numeral figure line. The issuing authority 'Stadtgemeinde München' appears at top right, the date 'München, den 28. August 1923' and authority 'Stadtrat München' are printed below, accompanied by two manuscript facsimile signatures. A vertical side-strip at left carries the denomination in Gothic script. |
|---|---|
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| Reverse description | The reverse of the underlying 50 Millionen Mark note is printed in brown on cream paper with a guilloche border of interlocking geometric patterns. A central oval vignette carries the large numeral '50' above 'MILLIONEN MARK' in bold letterpress, with a standing figure in the lower portion and 'Stadt München' beneath. Two flanking text panels carry legal notices regarding the note's validity period and the penalties for counterfeiting. A bold diagonal overprint in dark ink reads 'Fünfzig Milliarden Mark' across the entire face to reflect the revalued denomination. |
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| Comments |
Munich issued this 50-billion-Mark note during the final weeks of Weimar hyperinflation, when the Reichsbank's printing capacity was so overwhelmed that municipalities, private firms, and even railways were legally permitted to issue their own emergency currency — Notgeld. By late October 1923, a single US dollar was worth roughly 4 billion Marks; by mid-November it exceeded 4 trillion. A denomination of 50 billion, unimaginable eighteen months earlier, was barely adequate for a week's groceries.
Municipal issues like this one were generally printed on whatever paper stock was locally available and circulated only within a limited geographic area, redeemable in theory but often worthless before redemption could occur. The Rentenmark stabilization of 15 November 1923 rendered virtually all such notes void almost immediately.