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500 000 000 Mark Hallesche Pfännerschaft
| Issuer | Hallesche Pfännerschaft Aktiengesellschaft, Halle an der Saale |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
| Value | 500 000 000 Marks (500 000 000) |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | The left half carries an oval vignette with a woodcut-style scene of two historical salt workers in period costume standing before the distinctive towers of Halle's Marktkirche. The denomination "500 000 000" appears in a cartouche at upper left, while the value in Fraktur blackletter script — "Fünf-Hundert Millionen Mark" — dominates the upper right. The issuer text in cursive Fraktur below details redemption conditions through named banking institutions, closing with the issuer signature block "Hallesche Pfännerschaft Ac.-G." and the date "Halle-S. im September 1923." |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Die Arbeit und den Nutz, darin zu Hall besteht Aus Saltzwerck, zeiget an der hier mit rosen geth. Fünf-Hundert Millionen Ws·H |
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| Comments |
The Hallesche Pfännerschaft was one of the oldest salt-producing cooperatives in central Germany, with roots going back to medieval saltworks along the Saale river. During the hyperinflation crisis of 1923, when the Reichsbank could not print currency fast enough to keep pace with collapsing purchasing power, thousands of German municipalities, companies, and private institutions were legally permitted to issue emergency money — Notgeld — denominated in the astronomical figures that had become daily reality. A salt cooperative issuing half-billion Mark notes is less surprising in that light than it first appears.
The watermark security feature is notable for notgeld of this type, suggesting a more deliberate production run than the hastily lithographed emergency issues common among smaller issuers.