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| 正面铭文 | Gutschein Fünfhundert Milliarden Mark Bad Reichenhall, den 1. November 1923 Stadtrat Bad Reichenhall |
| 背面描述 | Plain paper reverse bearing faint show-through of the obverse letterpress text, with no intentional printed design, vignette, or lettering; the surface exhibits the aged, uncoated paper stock typical of emergency currency of the 1923 German hyperinflationary period. |
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One of the more extreme denominations to emerge from the hyperinflation peak of late 1923, when municipal and local authorities across Germany were legally empowered — and practically forced — to issue their own emergency currency, or Notgeld, because the Reichsbank simply could not print fast enough to meet demand. Bad Reichenhall, a spa town in Upper Bavaria, issued this note through its city council rather than a commercial or banking institution, which was common among smaller municipalities.
The 64 × 13 mm strip format was a deliberate paper economy — at that denomination, the physical note was worth almost nothing before the ink dried.