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| 表面の説明 | The obverse is printed in dark blue-grey on pale paper and framed by a decorative letterpress border composed of oak leaves and acorns, characteristic of Weimar-era Notgeld typography. The large Gothic denomination numeral '500 000 Mark' occupies the upper central field, with the written-out legend '+ Fünfhunderttausend Mark +' immediately below, followed by a boxed payment clause in a smaller serif typeface. The lower portion carries the place and date of issue, dual authority inscriptions for the Stadtrat and Stadtkämmerei, and a serial number flanked by an asterisk, with spaces for two manuscript signatures. |
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| 裏面の説明 | The reverse is unprinted save for a faint rectangular border rule in blue at the edges, and the entire surface of the watermarked paper is clearly visible, exhibiting an all-over pattern watermark with foliate and floral motifs. No text, vignette, or additional design elements are present on this side. |
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Erlangen's Stadtkasse entered the notgeld market relatively late in the hyperinflation spiral, issuing high-denomination emergency currency as the Reichsmark's purchasing power collapsed in the summer and autumn of 1923. By the time half-million Mark notes were a practical necessity for daily transactions, the municipal treasuries producing them were struggling to keep pace with the Reichsbank's own denomination escalation — notes became obsolete within weeks of printing.
The watermarked paper is notable here: most municipal issuers at this stage were using whatever stock was available, and the presence of a security feature suggests either advance procurement or paper sourced from a commercial printer with pre-existing stock.