50 000 Mark

Ansbach issued its own emergency currency — Notgeld — during the hyperinflation of 1923, as the Reichsmark collapsed so rapidly that municipal and regional authorities across Germany were forced to print local denominations to keep commerce functional. The 50,000 Mark face value, which sounds extraordinary, was already becoming inadequate within weeks of printing; by late 1923 a single loaf of bread cost hundreds of billions of marks.

The issuer designation — Stadtrat der bayerischen Kreishauptstadt Ansbach — reflects Bavaria's distinct administrative hierarchy, which retained the Kreishauptstadt title for its regional capitals longer than most German states. Locally printed Notgeld from smaller Bavarian cities like Ansbach tends to survive in better condition than notes from industrial centers, where actual circulation was heavier.