1923 Germany 10 Milliarden Mark Reichsbanknote PCGS AU50 – Pick 117a Hyperinflation Era

1923 Germany 10 Milliarden Mark Reichsbanknote PCGS AU50 – Pick 117a Hyperinflation Era

Offered here is a fascinating artifact of Weimar Germany's economic collapse — a 1923 10 Milliarden (10 Billion) Mark Reichsbanknote, graded PCGS About Uncirculated 50 Details (Edge Tear) and cataloged as Pick #117a. This is a Seventh Issue emergency note printed during the absolute height of the infamous hyperinflation crisis that consumed Germany in the autumn of 1923.

With a staggering face value of 10,000,000,000 Marks, this note was once part of daily transactions when prices doubled every few days and wheelbarrows of cash were needed to buy a loaf of bread. These emergency notes were printed and circulated so rapidly that they often feature minimal security features and large, bold denominations.

Key Details:

• Country: Germany (Weimar Republic)

• Year: 1923

• Denomination: 10 Milliarden Mark (10 Billion Marks)

• Pick Number: 117a

• Issue: Seventh Issue

• Serial Number: FG-21 111422 (Red Ink)

• Grade: PCGS AU50 Details – Edge Tear

• Watermark: Type E – Stars & Z’s

• Printer: Reichsdruckerei, Berlin

• Date on Note: 1 October 1923

Design & Features:

Obverse:

• Dominated by bold black print proclaiming "Zehn Milliarden Mark", backed by a geometric guilloché pattern of red and green.

• Two Reichsbank eagle seals adorn the lower corners.

• Large red serial number at lower right: 111422

• Redemption text promising value in Berlin by the Reichsbankdirektorium, dated October 1, 1923.

• Denomination printed vertically along the left margin: 10 Milliarden Mark

Reverse:

• Unprinted aside from watermark bleed-through and mirror text impressions — typical of later hyperinflation notes where printing costs and speed outweighed design embellishments.

• The paper is thin, fragile, and hastily produced — a testament to the economic desperation of the time.

Historical Context:

By October 1923, the Weimar Republic’s currency was spiraling out of control. The 10 Milliarden Mark note — which would have seemed unfathomable just months earlier — was barely enough to cover daily essentials. Just a few weeks later, even this astronomical sum would be obsolete as the government prepared to issue trillion-mark denominations before introducing a new currency, the Rentenmark, in November.

These notes are physical remnants of one of history’s greatest monetary collapses — a cautionary tale of unchecked inflation, war reparations, and political instability.

Collector’s Value:

Despite a minor edge tear, this PCGS AU50 note retains sharp print clarity, rich coloration, and full structural integrity — making it a top-tier survivor from the hyperinflation period. Notes of this denomination in high grade are increasingly sought after by collectors of:

• German financial history

• Extreme denomination banknotes

• Hyperinflation-era monetary systems

This 10 Milliarden Mark note is not just currency — it's an emblem of the fragility of trust in money, and an essential conversation piece for any historically inclined collection.