50 Milliarden - Heilbronn

Heilbronn issued this 50-milliard piece at the absolute peak of Weimar hyperinflation, when the assignation of face values had become almost absurdly iterative — denominations doubling and tripling weekly as the Reichsmark collapsed through the autumn of 1923. Metal notgeld of this period was a municipal hedge: nickel silver held intrinsic value that paper simply could not, and local authorities struck their own emergency coinage precisely because Reichsbank-issued currency was functionally worthless before it could change hands.

The Funck 638.1E designation places this among the catalogued varieties distinguished by edge or die specifics documented in the standard notgeld reference.