50 Reichsmark Bayerische Banknote

The Bayerische Notenbank was one of the four regional German banks permitted to continue issuing notes under the 1924 Bank Law that reorganized Germany's currency following the catastrophic hyperinflation. Most issuing rights were consolidated under the Reichsbank, but Bavaria, Baden, Saxony, and Württemberg retained limited privileges — a political concession to federalist pressures rather than any financial necessity.

Giesecke & Devrient had printed Bavarian notes throughout the inflation period and continued into this stabilization series. The 1924 issues were backed by gold and foreign exchange under the Dawes Plan framework, a hard constraint that made overissuance structurally impossible for the regional banks.