Hyper Inflation (1923)
In 1923 the vicious circle of devaluation accelerated in Germany. The Papiermark was printed in
ever higher denominations and quantities.
Find out more about the historical background of the Inflation period.
100,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 February 1923.
(P# 83 / Ro 82)
10,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 3 February 1923.
(P# 84 / Ro 83)
20,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 20 February 1923.
(P# 85 / Ro 84)
1 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 20 February 1923.
(P# 86 / Ro 85)
5,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 March 1923.
(P# 87 / Ro 86)
500,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 May 1923.
(P# 88 / Ro 87)
5 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 June 1923.
(P# 90 / Ro 88)
2 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 23 July 1923.
(P# 89 / Ro 89)
100,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 91 / Ro 90)
500,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 92 / Ro 91)
1 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 94 / Ro 92)
1 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 93 / Ro 93)
5 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 95 / Ro 94)
10 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 96 / Ro 95)
20 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 97 / Ro 96)
50 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 25 July 1923.
(P# 98 / Ro 97)
50,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 9 August 1923.
(P# 99 / Ro 98)
200,000 Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 9 August 1923.
(P# 100 / Ro 99)
1 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 9 August 1923.
(P# 101 / Ro 100)
1 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 9 August 1923.
(P# 102 / Ro 101)
2 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 9 August 1923.
(P# 103 / Ro 102)
2 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 9 August 1923.
(P# 104 / Ro 103)
5 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 20 August 1923.
(P# 105 / Ro 104)
10 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 22 August 1923.
(P# 106 / Ro 105)
100 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 22 August 1923.
(P# 107 / Ro 106)
20 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 September 1923.
(P# 108 / Ro 107)
50 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 September 1923.
(P# 109 / Ro 108)
500 Million Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 September 1923.
(P# 110 / Ro 109)
1000/1 Milliarde (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 December 1922.
(P# 113 / Ro 110)
1 Milliarde (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 5 September 1923.
(P# 114 / Ro 111)
5 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 10 September 1923.
(P# 115 / Ro 112)
10 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 September 1923.
(P# 116 / Ro 113)
10 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 October 1923.
(P# 117 / Ro 114)
20 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 October 1923.
(P# 118 / Ro 115)
50 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 10 October 1923.
(P# 119 / Ro 116)
50 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 10 October 1923.
(P# 120 / Ro 117)
200 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 October 1923.
(P# 121 / Ro 118)
1 Milliarde (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 20 October 1923 (overprinted).
(P# 122 / Ro 119)
5 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 20 October 1923.
(P# 123 / Ro 120)
5000/500 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 March 1923 (overprinted).
(P# 124 / Ro 121)
50 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 26 October 1923.
(P# 125 / Ro 122)
100 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 26 October 1923.
(P# 126 / Ro 123)
500 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 26 October 1923.
(P# 127 / Ro 124)
100 Billionen (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 26 October 1923.
(P# 128 / Ro 125)
1 Billion (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 November 1923.
(P# 129 / Ro 126)
5 Billionen (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 November 1923.
(P# 130 / Ro 127)
10 Billionen (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 November 1923.
(P# 131 / Ro 128)
10 Billionen (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 November 1923.
(P# 132 / Ro 129)
100 Milliarden (Billion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 5 November 1923.
(P# 133 / Ro 130)
1 Billion (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 5 November 1923.
(P# 134 / Ro 131)
2 Billionen (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 5 November 1923.
(P# 135 / Ro 132)
5 Billionen (Trillion) Mark 1923
This note was issued by Reichsbankdirektorium Berlin. It is dated 7 November 1923.
(P# 136 / Ro 133)
10 Billionen (Trillion) Mark 1924
This note was issued by Reichsbankdirektorium Berlin. It is dated 1 February 1924.
(P# 137 / Ro 134)
20 Billionen (Trillion) Mark 1924
This note was issued by Reichsbankdirektorium Berlin. It is dated 5 February 1924.
(P# 138 / Ro 135)
50 Billionen (Trillion) Mark 1924
This note was issued by Reichsbankdirektorium Berlin. It is dated 10 February 1924.
(P# 139 / Ro 136)
100 Billionen (Trillion) Mark 1924
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 February 1924.
(P# 140 / Ro 137)
5 Billionen (Trillion) Mark 1924
This note was issued by Reichsbankdirektorium Berlin. It is dated 15 March 1924.
(P# 141 / Ro 138)
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