1923 Germany 500 Millionen Mark Reichsbanknote P-98 Weimar Hyperinflation Era Almost UNC

1923 Germany 500 Millionen Mark Reichsbanknote P-98 Weimar Hyperinflation Era Almost UNC

This genuine 1923 German 500 Millionen Mark banknote (Five Hundred Million Marks) is a striking representation of the economic chaos that consumed the Weimar Republic during one of the most devastating episodes of hyperinflation in modern history. Issued in Berlin on 1 September 1923, this high-denomination note marked a time when Germany's paper currency was rapidly losing all practical value—even hundreds of millions were no longer enough for daily essentials.

Authenticity:
This is a fully authentic Reichsbanknote, bearing the official printed signatures of the Reichsbankdirektorium and the serial number 8k 066657 in vivid green ink. This note has been preserved in Almost Uncirculated (Almost UNC) condition—exhibiting excellent paper crispness, bright inks, and only very minimal signs of handling, making it a standout example from this chaotic period.

Historical Significance:
As Germany’s post-WWI economy spiraled into dysfunction due to war reparations, foreign occupation, and uncontrollable monetary expansion, inflation accelerated to extreme levels. By September 1923, denominations had reached hundreds of millions, and mere days later, billion-mark notes were being issued. This 500 Millionen Mark note is part of that short-lived but critical middle phase, where currency design could barely keep up with runaway inflation.

Notes like this are essential primary sources that illustrate the consequences of unrestrained money printing and serve as a cautionary economic tale.

Design and Features:

• Obverse (Front):

  • Denomination boldly printed as Fünfhundert Millionen Mark in ornate Gothic blackletter.

  • Oversized decorative “F” anchors the left margin, blending into intricate background detailing.

  • Red-violet guilloche underprint provides security and visual depth.

  • Issued in Berlin, 1 September 1923, with terms of redemption valid into 1924.

  • Serial number 8k 066657 printed in green at the lower right.

  • Twin Reichsbank eagle seals and facsimile signatures of senior Reichsbank officials.

• Reverse (Back):

  • Unprinted reverse, typical of Weimar emergency issues.

  • Light design bleed-through visible, consistent with authentic paper stock and era-specific printing.

Catalog Number:
Pick #98 in the Standard Catalog of World Paper Money, under Weimar Republic listings.

Collector's Value:
This Almost UNC example of the 500 Millionen Mark note is an exceptional find. Most surviving pieces from this time were heavily circulated due to their fleeting usability, but this example retains sharpness and detail rarely seen today. For collectors of hyperinflation-era money, Weimar Republic artifacts, or those with an interest in economic history, this note offers both historical weight and aesthetic appeal. It’s a conversation piece and a cautionary tale—preserved in near-top grade condition.