50 Mark Reichsbanknote

The P#65 was issued in the final year of the First World War, when the Reichsbank was printing heavily to fund a military effort already beyond the country's means. By 1918 the Reichsdruckerei was under enormous pressure to sustain output across multiple denominations simultaneously, and quality control across the series shows it.

Watermarking remained the primary security feature — a decision that looks thin in retrospect, given how aggressively the post-war inflationary period would expose the limits of German note security. This issue was rendered practically obsolete within four years, swallowed by the hyperinflationary collapse that made 50 Mark a trivial sum by 1922.