1923 Germany 1 Milliarde Mark Reichsbanknote P-108 Weimar Hyperinflation Era Historic Note

1923 Germany 1 Milliarde Mark Reichsbanknote P-108 Weimar Hyperinflation Era Historic Note

This 1923 German 1 Milliarde Mark (One Billion Marks) banknote is a powerful symbol of one of the most catastrophic episodes of hyperinflation in modern history. Issued by the Reichsbank on September 5, 1923, this note captures the desperation and volatility of the Weimar Republic's collapsing monetary system, where denominations soared from thousands to billions in a matter of weeks.

Authenticity:
This is an original and authentic Reichsbanknote issued during the peak of Germany’s hyperinflation. It is not a reproduction or fantasy issue. This particular note carries the bold red serial number B-04412361, and was legally recognized tender at the time of issuance.

Historical Significance:
The post-WWI German economy spiraled into hyperinflation due to massive war reparations, political unrest, and currency overprinting. By late 1923, a single U.S. dollar was worth over 4 trillion marks. This note, denominated at 1 Milliarde Mark (1,000,000,000 Marks), was once necessary just to purchase basic goods like a loaf of bread or tram fare. It vividly illustrates how quickly confidence in currency can evaporate and how governments may respond with increasingly absurd denominations.

Design and Features:

• Obverse:

  • Gothic black text reads: "Eine Milliarde Mark" across the center.

  • Surrounded by an intricate multicolored border printed in pink and green tones.

  • Issued in Berlin, dated 5 September 1923, and signed by the Reichsbankdirektorium (Directorate of the Reichsbank).

  • Features legal disclaimer text explaining the note's exchangeability until January 1, 1924.

  • Twin Reichsbank eagle seals are printed in black, providing a strong visual presence and institutional authenticity.

  • Large vertical "1 Milliarde" printed along the right side in light teal for immediate denomination recognition.

• Reverse:

  • Unprinted, with watermark and bleed-through of front design clearly visible, common to emergency-issue notes of the era.

Catalog Number:
Pick #108 in the Standard Catalog of World Paper Money, under Germany – Weimar Republic issues.

Collector's Value:
This note is an iconic piece for anyone interested in economic history, inflation-era currency, or early 20th-century European studies. Its massive denomination, official Reichsbank issuance, and place within a historic monetary collapse make it highly collectible. Whether you're a seasoned numismatist or new to collecting, this piece offers a tangible connection to the staggering scale of Weimar hyperinflation—and serves as a timeless lesson in the fragility of fiat money.