50 000 000 000 Mark Haslach, Hausach, Schiltach and Wolfach

A joint emergency issue signed by the mayors of four small Black Forest towns — Haslach, Hausach, Schiltach, and Wolfach — acting collectively because no single municipality had the standing or resources to issue at this scale alone. By autumn 1923, the Reichsbank's printing apparatus had so completely failed to keep pace with hyperinflation that towns throughout Germany were forced into cooperative Notgeld arrangements of this kind. Fifty billion marks was not an extraordinary sum by that point; it was grocery money.

The official stamp substitutes for any more sophisticated security measure — entirely typical of the period's desperation printing.