500 000 000 Mark Reichsbanknote

By the time this note was authorized in late 1923, the Reichsbank was printing denominations that would have been unthinkable eighteen months earlier. The 500-million-Mark note belongs to the most acute phase of the Weimar hyperinflation — the period between August and November 1923 when the mark lost virtually all remaining value and new denominations were obsolete within days of issue. The Reichsdruckerei was running presses around the clock, and even private printers were contracted to meet demand.

Pick 110b is distinguished from 110a by a variation in the serial number prefix block. The watermark, a simple cross-hatched pattern, was retained more as a production convention than any meaningful anti-counterfeiting measure — forging inflated notes of this period offered little financial incentive.