Antique Reichsbank note, valued at 10 million marks, distributed in Germany from August to November 1923. German efforts to finance World War I sent the nation into debt. Following their defeat, the Treaty of Versailles obligated Germany to pay reparations to several countries, which increased the nation’s financial struggles. The German government attempted to solve this problem by printing more money, which led to severe inflation. The inflation grew to critical levels between 1922 and1923, when the exchange rate of the mark to the United States dollar went from 2,000 marks per dollar to well over a million in a matter of months. The government printed higher and higher denominations, but was unable to keep up with the plunging rates. Germans began using the worthless bills as kindling, wallpaper, and children’s crafts. The emerging National Socialist German Worker’s (Nazi) Party frequently used the bills to their advantage, writing anti-Semitic messages on them, which blamed Jews for Germany’s financial problems. In order to stabilize the economy, the German government established the Rentenbank. The new Minister of Finance, Hans Luther, created the Rentenmark, which was backed by mortgages on all real property in Germany, rather than gold. The Rentenmark was valued at 4.2 marks to one U.S. dollar, and its introduction on November 16, 1923, successfully ended the inflation crisis. Despite this, the Nazi Party continued to use people’s residual economic fears as a propaganda tool to gain power, eventually leading to Adolf Hitler becoming Chancellor in 1933.

Features

IssuerGermany - 1871-1948 
PeriodWeimar Republic (1918-1933)  
TypeStandard banknote 
Year1923 
Value10,000,000 Mark (10 000 000)
CurrencyMark (1873-1923)
CompositionPaper
Size125 × 80 mm
ShapeRectangular
Demonetized5 July 1925 
NumberN# 206176 
ReferencesP# 106 

Obverse

Note has pale-green and black print with a red serial number. It includes two instances of the crest for the issuing entity - the Reichsbankdirektorium.

Lettering: 
Reichbanknote
Zehn Millionen Mark

zahlt die Reichsbankhauptkasse in Berlin gegen diese
Banknote dem Einlieferer. Vom 1. Oktober1923 ab
kann diese Banknote aufgerufen und unter Umtausch
gegen andere gesetzliche Zahlungsmittel eingezogen werden
Berlin, den 22. August 1923
Reichsbankdirektorium

(along the left)
Wer Banknoten nachmacht oder verfälscht, oder nachgemachte
oder verfälschte sich verschafft und in verkehr bringt, wird mit
Zuchthaus nicht unter zwei Jahren bestraft 

Translation: 
The Reichsbank Main Branch in Berlin will pay the holder of this note 10 million marks.
Beginning October 1st 1923, this note may be recalled and collected in exchange for other legal tender
Berlin, the 22nd of August, 1923
Reichsbank Directorate

(along the left)
Whosoever copies or falsifies banknotes or acquires and puts copied or falsified banknotes into circulation will be punished with no less than two years of prison time. 

Reverse

Single-sided note; reverse is blank.