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| 正面描述 | Plain cream paper note with black letterpress text throughout. The upper portion carries the issuing authority legend and a small engraved municipal coat of arms of Bad Mergentheim at centre-top, with a red serial number and series designation at upper right. To the left, a large red circular municipal seal vignette is applied, bearing the city arms surrounded by Gothic lettering. The denomination is stated in large Gothic script as 'Fünfzig Millionen Mark', with a redemption clause, place, and date of issue — Mergentheim, 21. August 1923 — below, followed by two manuscript signatures over their respective title lines and a violet circular official stamp at centre. |
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| 背面描述 | The reverse is unprinted and shows the plain cream paper stock. A blind embossed circular seal of the city of Bad Mergentheim is visible at the right, corresponding to the applied red seal on the obverse, confirming its application through the paper. The obverse text is faintly visible in show-through, with no additional printing or decoration on this side. |
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Bad Mergentheim was a small spa town in northern Württemberg — the kind of municipality that had no business printing fifty-million-mark notes, yet by August 1923 had little choice. The Reichsbank's central supply of emergency currency had completely broken down under hyperinflation, and thousands of German cities, counties, and even private firms received authorization to issue their own Notgeld to keep wages and daily commerce moving. These higher-denomination municipal issues were often printed locally with whatever materials were available, then validated with an embossed seal precisely because the printing itself was so easy to replicate.
The watermarked paper distinguishes this issue slightly — many comparable municipal notes of the period used plain stock.