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| 正面铭文 | Die Stadtgemeinde Pfullendorf zahlt gegen diesen Gut-Schein den Betrag von 50 Milliarden Mark in Reichsbanknoten. Pfullendorf, den 3. November 1923 Der Gemeinderat: Für die Kontrolle: Stadtverrechnung: Die Scheine werden nach Aufruf im Pfullendorfer Anzeiger und Volksblatt bei allen städt. u. spit. Kassen, sowie bei der Sparkasse Pfullendorf eingelöst. (Translation: The Municipality of Pfullendorf will pay the sum of 50 billion marks in Reichsbanknotes against this voucher. Pfullendorf, November 3, 1923 The Municipal Council: For the control: Municipal Accounting: The notes will be redeemed at all municipal and regional cash offices, as well as at the Pfullendorf Savings Bank, after notices appearing in the Pfullendorfer Anzeiger and Volksblatt.) |
| 背面描述 | The reverse bears a halftone photographic reproduction of a traditional German half-timbered farmhouse (Fachwerkhaus), two storeys in height with a steeply pitched roof, set within a plain rectangular frame on an unprinted cream paper ground. The structure is covered with climbing vegetation and surrounded by garden growth, rendered in monochrome black ink typical of emergency currency printing of the period. |
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Pfullendorf is a small town in Baden, and like hundreds of other German municipalities in late 1923, it was forced to print its own emergency currency because Reichsbank notes were losing value faster than they could be shipped and distributed. The 50 billion Mark denomination places this squarely in the hyperinflation peak — by November 1923, a single US dollar exchanged for roughly 4.2 trillion Marks, meaning this note was worth fractions of a cent within days of issue.
Municipal Notgeld at this denomination level had an effective circulation life measured in hours, not days.