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50 000 000 000 Mark
| Issuer | Stadt Höchst am Main (Stadtverwaltung) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Obverse description | The obverse is divided into three vertical panels: a red-framed validity panel at left carrying the circulation authorization text in red letterpress, a central panel with the main text legend set against an orange crosshatch guilloche underprint, and a right panel repeating the issuer name and denomination value. The serial number in red appears at lower left of the central panel, alongside the series letter prefix. |
|---|---|
| Obverse lettering | Umlauffähig im ganzen Regierungsbe- zirk Wiesbaden. Gültig bis 1. April 1924 STADT HÖCHST AM MAIN Gutschein über FÜNFZIG MILLIARDEN MARK Dieser Schein wird für Rechnung der Stadtverwaltung von der Stadt. Sparkasse in Höchst a. M. in Reichswährung eingelöst. Der Verfalltag wird amtlich bekannt gegeben ; nach Ablauf der Einlösungsfrist verliert dieser Schein seine Gültigkeit. Höchst a. M., 25 Oktober 1923. Der Magistrat Lit.A. N° 061450 Stadt Höchst a. M. 50 Milliarden Mark |
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| Comments |
Höchst am Main was a small independent city at the time — it would not be incorporated into Frankfurt until 1928 — and like hundreds of German municipalities in late 1923, it was forced to issue its own emergency currency simply to meet payroll and conduct local commerce. By the time denominations this large were necessary, the Reichsbank's official supply couldn't keep pace with inflation that was doubling prices every few days.
The fifty-billion-mark face value dates this note to the final, most acute phase of the hyperinflation, almost certainly October or November 1923, before the Rentenmark stabilization cut the crisis off at the root on 15 November.