This listing is for the photographed 1923 20 Million Mark Henschel & Sohn Cassel Germany Note. Issued shortly after Germany's loss in World War 1, during their period of extreme hyperinflation. Center vignette of steam engine train. Great Condition, colorful note.
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 20 Million 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 20 Million Mark German Paper Note - Henschel & Sohn Cassel Train Note - WWI Hyperinflation Note - 1923 Twenty Million Mark Note