50 000 000 Mark

Bad Reichenhall issued this 50-million Mark note at the peak of Germany's hyperinflation in 1923, when municipal and regional authorities across the country were forced to print their own emergency currency — Notgeld — because the Reichsbank simply could not produce denominations fast enough to keep pace with collapsing purchasing power. By the time notes at this face value were circulating, the figure itself was functionally trivial; prices were doubling within days.

Local Notgeld of this denomination was typically printed on whatever paper stock was available through regional suppliers, which accounts for the variation in paper quality and color saturation seen across surviving examples from different Bavarian municipalities.