1923 Germany 500 Million Mark P-110d PCGS 63 Choice UNC – Weimar Hyperinflation, Stars & Zs

1923 Germany 500 Million Mark P-110d PCGS 63 Choice UNC – Weimar Hyperinflation, Stars & Zs

Offered here is a certified 1923 German 500 Million Mark banknote, graded PCGS 63 Choice Uncirculated, issued during one of the most extreme economic collapses in modern history—the hyperinflation period of the Weimar Republic. This note is cataloged as Pick #110d, part of the Sixth Issue, and bears the serial number HO-12 060427. It features the Type E watermark, composed of stylized Stars and Zs, used for security and authentication during this volatile era.

Design and Features:

Obverse:

• The bold inscription “Fünfhundert Millionen Mark” (500 Million Marks) dominates the design in Gothic script, highlighting the staggering face value.

• The large, elaborate "F" initial is dramatically stylized in black ornamental scrollwork, a hallmark of Weimar-era banknote artistry.

• A three-tiered "500" denomination motif in rose-red occupies the right margin.

• Official Reichsbank seals are printed at the lower corners, flanking the signatures of Reichsbank directors.

• The note is dated September 1, 1923, just weeks before currency reform rendered the Mark obsolete.

• Printed serial number 060427 appears in green at bottom right.

Reverse:

• As with many emergency issues of the time, the back is blank—reflecting the need for rapid mass production during monetary chaos.

• The reverse shows ghosted ink bleed-through, revealing the delicate nature of the note's thin paper stock, typical for this period.

Historical Context:

By late summer 1923, Germany’s inflationary spiral had reached unfathomable levels. The value of the Mark plummeted so quickly that prices often doubled in a single day. Citizens carried baskets of cash to buy basic goods, and denominations like this 500 Million Mark note were issued in the millions and still couldn’t keep up.

This note belonged to the Sixth Issue, one of the last stages before the government introduced the Rentenmark in November 1923 to halt the crisis. These emergency notes stand as a sobering testament to the dangers of uncontrolled monetary policy and political instability.

Collector’s Value:

Graded Choice UNC 63 by PCGS, this note retains its original crispness, vivid ink, and strong paper integrity. Scarce in higher grades, particularly from the Sixth Issue, this 500 Million Mark note is ideal for collectors focusing on inflation-era currency, German history, or extreme denomination themes. A historical piece with both aesthetic and educational value, offering a unique window into the chaos of 1923 Germany.