500 million German mark 1. Sept 1923


The Weimar Republic was established in Germany following WWI. It was unable to control the economy due to a number of factors including ineptitude and heavy financial penalties imposed by the Allies. The result was about 3 years of hyperinflation during which the Weimar government printed ever-larger bills in a futile effort to keep up with exponential price increases. At the worst point in late 1923 the mark fell to approximately one 400- billionth of its 1920 value!


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