500 000 Mark

Hannover's municipal savings bank issued this note on its own authority during the hyperinflation spiral of 1923, when the Reichsbank's supply of emergency currency simply could not keep pace with demand. The joint issuing formula — combining the Sparkasse der Stadt with the Kapital-Versicherungs-Anstalt — was an administrative peculiarity specific to Hannover's institutional structure, not a pattern seen elsewhere.

Gebrüder Jänecke was a Hannover printing house with deep roots in commercial and securities printing, which made them a logical local contractor when notgeld production had to move fast. The embossed stamp served as the primary authentication device, applied after printing.