500 000 Mark Reichsbahndirektion

The Reichsbahndirektion Breslau was one of dozens of regional railway directorates that issued notgeld during the hyperinflation of 1923, when the Reichsbank simply could not produce currency fast enough to meet demand. Railway directorates across Germany became de facto emergency issuers by virtue of their payroll obligations — they needed to pay thousands of workers weekly, and waiting for official notes was not an option.

The 500,000 Mark denomination places this squarely in the summer-to-autumn 1923 window, before valuations climbed into the billions. Breslau, then the capital of Silesia, was already under significant economic and political pressure following the 1921 Upper Silesia plebiscite and partition.