1923 Germany 100 Million Mark P-107d PCGS 62 PPQ Unc Hyperinflation Note – Stars & Zs Watermark

1923 Germany 100 Million Mark P-107d PCGS 62 PPQ Unc Hyperinflation Note – Stars & Zs Watermark

Offered here is a striking 1923 German 100 Million Mark banknote, cataloged as Pick #107d, graded PCGS 62 PPQ (Premium Paper Quality). Issued during the height of the Weimar Republic’s hyperinflation crisis, this note represents the Fifth Issue and is one of the most visually iconic examples of runaway monetary devaluation.

This large-denomination Reichsbanknote is dated August 22, 1923, just weeks before the currency collapsed entirely, with denominations spiraling into the billions and trillions. Featuring serial number HH-12 086682, this note is printed on crisp white paper and showcases the Type E watermark—noted for its Stars & Zs motif, a key authentication mark during this turbulent era.

Design and Features:

Obverse:

• Dominated by the inscription “Einhundert Millionen Mark” (One Hundred Million Marks) in bold Gothic script.

• The green guilloche security design fills the central portion of the note, encased within a scalloped border.

• At right, decorative cartouches with three stylized Germanic seals offer artistic detail and visual balance.

• Text declares redemption terms via the Berlin Reichsbank starting October 1, 1923.

• Official seals of the Reichsbank appear at bottom corners, along with the printed signatures of central bank officials.

• Serial number 086682 printed in red at upper right.

Reverse:

• A simple and faint mirrored imprint of the obverse design, characteristic of the lightweight paper used during this period.

• The serial number is visible through the thin paper stock, confirming the premium preservation of the note.

Historical Significance:

By the summer of 1923, Germany was issuing banknotes with increasingly surreal face values to keep pace with daily price surges. The 100 Million Mark note was printed and circulated during a month when bread prices doubled in days, and wages were often paid twice a day so workers could rush to spend their rapidly devaluing paychecks.

These notes served not as functional currency for long, but rather as stopgaps in an unraveling system. Their incredible denominations, combined with chaotic fiscal policy and public despair, turned once-powerful paper money into fleeting ephemera—and now, essential collector artifacts.

Collector’s Value:

Graded Uncirculated 62 PPQ by PCGS, this note is in exceptional condition, retaining its original crispness, sharp print detail, and unmarred paper quality. Notes with Premium Paper Quality from this period are increasingly scarce, especially at the 100 Million Mark level. A cornerstone addition for any collector of German hyperinflation notes or those fascinated by economic history and monetary collapse.