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| 正面描述 | Typographically printed note on cream paper with a green underprint panel at right bearing the large denomination numeral '50' and the word 'MILLIARDEN' in bold vertical letterpress. The central text field carries the denomination 'FÜNFZIG MILLIARDEN MARK' in heavy Gothic blackletter, surmounted by the issuer title 'REICHSBANKNOTE', with the payment obligation text dated Berlin, den 10. Oktober 1923. Two Reichsbankdirektorium eagle seals flank two rows of facsimile signatures at the foot of the note, while the denomination legend 'FÜNFZIG MILLIARDEN' runs along both the upper and lower borders within a dotted guilloche frame. |
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| 正面铭文 | REICHSBANKNOTE FÜNFZIG MILLIARDEN MARK zahlt die Reichsbankhauptkasse in Berlin gegen diese Banknote dem Einlieferer. Vom 1. Januar 1924 ab kann diese Banknote aufgerufen und unter Umtausch gegen andere gesetzliche Zahlungsmittel eingezogen werden. Berlin, den 10. Oktober 1923 REICHSBANKDIREKTORIUM FÜNFZIG MILLIARDEN |
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By the time this note entered circulation in late 1923, German hyperinflation had progressed so far that fifty billion marks could not buy a loaf of bread in most cities. The Reichsbank was printing on one side only and skipping drying time to keep pace with demand — quality control had effectively collapsed. This denomination, once unthinkable, was itself obsolete within weeks of issue.
The Reichsdruckerei was running presses around the clock, and regional emergency printers (Notgelddruckereien) were simultaneously flooding the market with their own authorized overprints on older stock. The sheer volume printed means genuinely uncirculated survivors are less rare than the denomination suggests.