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500 000 Mark
| Issuer | Stadtgirokasse Löbau i. Sa. |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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| Obverse description | Printed on salmon-red paper, this Notgeld cheque-type emergency note is laid out in a plain letterpress style without pictorial vignettes. The issuer's name, 'Die Stadtgirokasse Löbau i. Sa.', appears in large bold type across the upper centre, with the denomination spelled out in full — 'Mark Fünfhunderttausend' — in heavy display type beneath a double rule. To the lower left, a circular stamp impression of the Städtische Sparkasse zu Löbau bears the municipal coat of arms, while the lower right carries the authorising signature of the Städt. Sparkassen-Anstalt and the printer's imprint. |
|---|---|
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| Reverse description | The reverse is entirely unprinted, consisting of plain salmon-red paper with no text, vignettes, or decorative elements of any kind. |
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| Comments |
Löbau's municipal savings institution — the Stadtgirokasse — issued this note during the summer of 1923, when German hyperinflation was accelerating fast enough that 500,000 Mark denominations were already becoming inadequate within weeks of printing. Local authorities across Saxony were authorized to issue Notgeld to keep commerce moving as Reichsbank currency became functionally worthless before it could circulate.
Paul Schmalfuß Nachf. was a regional commercial printer, not a security press. The limitations show in the typography-heavy design — there was neither time nor infrastructure for engraved plates at this scale of emergency production.