This listing is for one 1923 500,000 Mark German banknote, as pictured. This note only has the serial number printed on the left end of the obverse note, making it a rarer issue than other similar notes. Serial number also has a star at the end, adding to its rarity and value. Excellent piece of history and rarer note in good condition, making for a great addition to any collection! P#88b (Pick Number 88b).
The Papiermark was the German currency from 4 August 1914 when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I. In particular, the Papiermarks was the currency issued during the hyperinflation in Germany of 1922 and 1923.
This note is an example of the hyperinflation causing the banknotes to list higher values, such as this one, at 500,000 Marks.
Banknotes were issued by the Imperial Treasury (known as "Reichskassenschein") and the Reichsbank, as well as by the banks of some of the states. Imperial Treasury notes were issued in denominations of 5, 10, 20 and 50 Mark, whilst Reichsbank notes were produced in denominations of 20, 50, 100 and 1000 Mark.
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1923 500,000 Mark German Paper Reichsbanknote - Great Condition, Obverse Serial Number Only - 1923 Five Hundred Thousand Mark Note - P#88b