500 000 Mark Reichsbanknote

This is one of the mid-tier denominations from the hyperinflation spiral of 1923, a year in which the Reichsbank was forced to issue notes in quantities and face values that rapidly became absurd. By the time P#88 entered circulation, 500,000 Mark was already losing purchasing power faster than the ink dried — the note was effectively obsolete within weeks of issue.

The 12.175 million print run sounds large until you consider that Germany was producing notes by the trainload in 1923. The Reichsbank eventually contracted over thirty private printing firms to keep pace with demand, since its own presses could not.