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50 000 000 Mark
| Issuer | Kreissparkasse Neuwied (Kreisausschuss des Kreises Neuwied) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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|---|---|
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| Protection type | Watermark |
| Protection description | Octagonal river pattern watermark (Keller #189, 'Achteckfluss') |
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| Comments |
Issued at the height of the German hyperinflation of 1923, this Fifty Million Mark note was produced by the Kreissparkasse Neuwied under authority of the Kreisausschuss — the district committee — of the Neuwied administrative district. Like hundreds of similar municipal and savings-bank issues that year, it exists because the Reichsbank simply could not print fast enough to keep pace with collapsing purchasing power. District-level institutions were formally permitted to issue emergency currency, known as Notgeld, to plug the gap.
By the time denominations reached the tens of millions, notes like this one had a useful circulation life measured in days before the face value became inadequate.