500 000 Mark

Arnswalde — now Choszczno in northwestern Poland — was one of hundreds of German municipalities that turned to local printers during the hyperinflation of 1923 when Reichsbank supply simply could not keep pace with the collapsing currency. This note, signed by Gerischer and Reich as municipal officials, was produced by Wendt's local print shop rather than any specialized security printer. At denominations like 500,000 Mark, the ink was barely dry before the purchasing power was gone.