Germany · 1923


A 5 billion (Fünf Milliarden) mark Reichsbank note dated Berlin, 20 October 1923, printed on one side only. The front shows the value in black Gothic lettering on a grey patterned panel with an interlaced border, the Reichsbank directors' signatures and two eagle seals; the text allows it to be called in from 1 February 1924. It was issued only weeks before the currency was stabilised by the Rentenmark in November 1923.
What it boughtOn the date printed on it, 20 October 1923, an inland letter in Germany cost 10 million marks to post, so this note would have paid for 500 letters. By December 1923 the same letter cost 100 billion marks.