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50 000 000 000 Marks
| Issuer | Magistrat der Stadt Peine |
|---|---|
| Year | 1923 |
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| Shape | Rectangular |
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| Obverse description | Typeset Notgeld issued on plain cream paper with a fine guilloche border and a lozenge-pattern underprint in olive-green. The large numeral '50' is set at the top centre flanked on either side by the word 'Milliarden', with the issuer's title 'Notgeld der Stadt Peine' in bold letterpress below. A validity clause in small type reads 'Gültig bis auf Widerruf durch öffentliche Bekanntmachung', and the denomination in full — 'Fünfzig Milliarden Mark' — dominates the centre field; the circular heraldic seal of the Magistrat der Stadt Peine is impressed at lower centre, accompanied by a manuscript signature, a serial number at lower left, and the date 'Peine, den 24. Oktober 1923' with the authority inscription 'Der Magistrat' at lower right. |
|---|---|
| Obverse lettering | Milliarden 50 Milliarden Notgeld der Stadt Peine Gültig bis auf Widerruf durch öffentliche Bekanntmachung. Fünfzig Milliarden MARK Peine, den 24. Oktober 1923 Der Magistrat LÖFFLER & DIEHL, PEINE |
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| Comments |
Peine was a mid-sized industrial town in Lower Saxony, home to a major steelworks, and like hundreds of German municipalities in the autumn of 1923, its local government found itself issuing emergency paper in astronomical denominations simply to meet weekly payroll. The 50-billion-Mark figure is not hyperbole — by November 1923, a single U.S. dollar bought over four trillion Marks, making this note functionally small change at the time of issue.
Löffler & Diehl were a local Peine printer, not a specialist banknote house. That shows.