View source for Papiermark

{{short description|German currency from 1914 to 1923}}
{{Redirect|Paper mark|words or images in the background of a document or sheet of paper|Watermark}}
{{Infobox currency
| local_name = Mark
| local_name_lang = de
| image_1 = GER-140-Reichsbanknote-100 Trillion Mark (1924).jpg
| image_title_1 = 100 trillion-ℳ︁ note, 1924 ([[short scale]] (US) or 100 billion-ℳ︁ long scale (UK pre-1974, Germany, much of Europe)
| image_2 =
| image_title_2 =
| iso_code =
| using_countries = {{flag|German Empire}}<br>{{flagicon|Germany|Weimar}} [[Weimar Republic]]<br>[[File:Flag of the Free City of Danzig.svg|24px]] [[Free City of Danzig]]<br>[[File:Flag of the Klaipėda Region.svg|23px]] [[Klaipėda Region]]
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[Pfennig]]
| symbol = ℳ︁
| symbol_subunit_1 = ₰
| plural = Mark
| plural_subunit_1 = Pfennig
| used_coins = 1₰, 2₰, 5₰, 10₰, 50₰ ({{frac|1|2}}ℳ︁)<br /> 1ℳ︁, 3ℳ︁, 200ℳ︁, 500ℳ︁
| used_banknotes = 1ℳ︁, 2ℳ︁, 5ℳ︁, 10ℳ︁, 20ℳ︁, 50ℳ︁, 100ℳ︁, 500ℳ︁<br />1,000ℳ︁, 5,000ℳ︁, 10,000ℳ︁, 20,000ℳ︁, 50,000ℳ︁, 100,000ℳ︁, 200,000ℳ︁, 500,000ℳ︁<br />1-million-ℳ︁, 2-million-ℳ︁, 5-million-ℳ︁, 10-million-ℳ︁, 20-million-ℳ︁, 50-million-ℳ︁, 100-million-ℳ︁, 500-million-ℳ︁<br />1-billion-ℳ︁, 5-billion-ℳ︁, 10-billion-ℳ︁, 20-billion-ℳ︁, 50-billion-ℳ︁, 100-billion-ℳ︁, 200-billion-ℳ︁, 500-billion-ℳ︁<br />1-trillion-ℳ︁, 2-trillion-ℳ︁, 5-trillion-ℳ︁, 10-trillion-ℳ︁, 20-trillion-ℳ︁, 50-trillion-ℳ︁, 100-trillion-ℳ︁
| issuing_authority = [[Reichsbank]]
| issuing_authority_website =
| pegged_with = [[United States dollar]] = 4.2-trillion-ℳ︁ = [[German Rentenmark|RM]]4.20  (1 trillion [[short scale]] (US) or 1 billion long scale (UK pre-1974, Germany, much of Europe) = 1,000,000,000,000)
| replaced_currency = [[German mark (1871)]]
| replaced_by_currency = [[Rentenmark]]
| obsolete = yes
}}

The '''Papiermark''' ({{IPA|de|paˈpiːɐ̯ˌmaʁk|lang|Papiermark.ogg}}; {{lit}} 'paper mark') was a derisive term for the '''Mark''' ([[currency sign|sign]]: '''ℳ︁''') after it went off the gold standard, and most specifically with the era of [[Hyperinflation in the Weimar Republic|hyperinflation in Germany of 1922 and 1923]].  Formally, the same [[German mark (1871)|German mark]] was used from 1871 to 1923.  Like many countries, Germany departed the gold standard due to the outbreak of [[World War I]], and stopped issuing gold coins backed in marks in August 1914.  Precious metals rapidly disappeared from circulation, and inflation occurred as [[paper money]] was used to cover war debts in 1914 to 1918.  Still, the papiermark is more associated with the early [[Weimar Republic]] era, when inflation grew out of control.  By the time the mark was retired from circulation and renominated in December 1923, banknotes had amounts in the billions and trillions of marks by face value.<ref name="George Friedrich Knapp 1924 xvi">{{Citation|title=The State Theory of Money|author=Knapp, George Friedrich|year=1924|publisher=Macmillan and Company|page=vxi}}</ref><ref>{{cite book |url=https://books.google.com/books?id=NNaaEAAAQBAJ&pg=PT290 |page=290 |title=Economics, Anthropology and the Origin of Money as a Bargaining Counter |author=Patrick Spread |year=2022 |publisher=Taylor & Francis 2022|isbn=9781000770841 }}</ref><ref>{{Cite book |url=https://books.google.com/books?id=9ydqHszxqEEC&pg=PA372 |page=372 |title=Routledge Handbook of Major Events in Economic History |author1=Randall E. Parker |author2=Robert M. Whaples |publisher=Routledge |year=2013|isbn=9781135080792 }}</ref>

==History==
{{further|Hyperinflation in the Weimar Republic}}
From 1914, the value of the mark fell.<ref>{{Cite web |title=Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average wage |url=https://www.measuringworth.com/datasets/exchangeglobal/ |access-date=2024-06-30 |website=www.measuringworth.com}}</ref> The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency stabilized in November 1923 after the announcement of the creation of the [[German Rentenmark|Rentenmark]], although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1-[[trillion (short scale)|trillion]] (10<sup>12</sup>)-ℳ︁ to [[Rentenmark|RM]]1. On 30 August 1924 the Rentenmark was replaced by the [[German Reichsmark|Reichsmark]].<ref>{{cite web|url=http://www.deutsche-biographie.de/sfz55235.html|title=Biografie Hans Luther|language=de|publisher=Bayerische Nationalbibliothek|access-date=15 August 2020}}</ref>

In addition to the issues of the government, emergency issues of both tokens and paper money, known as ''Kriegsgeld'' (war money) and ''[[Notgeld]]'' (emergency money), were produced by local authorities.<ref name=":0">{{Cite web |title=Guide to Notgeld Collection 1914–1923 |url=https://www.lib.uchicago.edu/e/scrc/findingaids/view.php?eadid=ICU.SPCL.NOTGELD |access-date=2024-06-24 |website=www.lib.uchicago.edu}}</ref>

The Papiermark was also used in the [[Free City of Danzig]] until it was replaced by the [[Danzig Gulden]] in late 1923. Several coins and emergency issues in Papiermark were issued by the free city.<ref name="NYT-1923-07-20">{{cite news |author=<!--Staff writer(s); no by-line.--> |date=20 July 1923 |title=Danzig to Establish New Currency System |newspaper=The New York Times (1851–2010)|page=3 |id={{ProQuest|<!-- add ProQuest data here -->}}}}</ref>

==Coins==
[[File:5milmkbk.jpg|thumb|200px|A 5-million-ℳ︁ coin would have been worth US$714.29 in January 1923, but only about 1 thousandth of one cent by October 1923.]]
During the war, cheaper metals were introduced for coins, including [[aluminium]], [[zinc]] and [[iron]], although [[silver]] {{frac|1|2}}ℳ︁ pieces continued in production until 1919. Aluminium 1''₰'' were produced until 1918 and the 2''₰'' until 1916.<ref>{{Cite web |title=Germany 1 Pfennig, Aluminum  (1916–1918) |url=https://germancoins.com/germany-1-pfennig-aluminum-1916-1918/ |access-date=2024-06-24 |website=CoinKing® – GermanCoins.com |language=en-US}}</ref> Whilst iron 5''₰'', both iron and zinc 10''₰,'' and aluminium 50''₰'' coins were issued until 1922.<ref>{{Cite web |last=smithwicknumismati |date=2021-12-21 |title=Coins Of The Great War: 5 Pfennig (Imperial Germany, 1918)-Article |url=https://www.smithwicknumismatics.com/post/coins-of-the-great-war-5-pfennig-imperial-germany-1918-article |access-date=2024-06-24 |website=Smithwicknumismatics |language=en}}</ref><ref>{{Cite web |title=Germany – Empire 10 Pfennig KM 20 Prices & Values {{!}} NGC |url=https://www.ngccoin.com/price-guide/world/germany-empire-10-pfennig-km-20-1916-1922-cuid-1128845-duid-1313363 |access-date=2024-06-24 |website=www.ngccoin.com}}</ref><ref>{{Cite web |title=Germany – Empire 10 Pfennig KM 26 Prices & Values {{!}} NGC |url=https://www.ngccoin.com/price-guide/world/germany-empire-10-pfennig-km-26-1917-1922-cuid-1132319-duid-1312791 |access-date=2024-06-24 |website=www.ngccoin.com}}</ref> Aluminium 3ℳ︁ were issued in 1922 and 1923,<ref>{{Cite web |title=3 Mark 1922–1923 coin value Germany Weimar Constitution – detailed description with image and worth |url=https://worldcoinsinfo.com/world_coins/germany-3-mark-1922-1923-coin.html |access-date=2024-06-24 |website=worldcoinsinfo.com}}</ref> and aluminium 200ℳ︁ and 500ℳ︁ were issued in 1923.<ref>{{Cite web |title=200 Mark 1923 German Weimar coin value – detailed description with image and worth |url=https://worldcoinsinfo.com/world_coins/germany-200-mark-1923-coin.html |access-date=2024-06-24 |website=worldcoinsinfo.com}}</ref><ref>{{Cite web |title=1923 German Coins – Coin Values {{!}} Coinstrail |url=https://coinstrail.com/catalog/germany/year/1923 |access-date=2024-06-24 |website=coinstrail.com}}</ref> The quality of many of these coins varied from decent to poor.

During this period, many provinces and cities also had their own corresponding coin and note issues, referred to as [[Notgeld]] currency. This came about often due to a shortage of exchangeable tender in one region or another during the war and hyperinflation periods.<ref name=":0" /> Some of the most memorable of these to be issued during this period came from [[Westphalia]] and featured the highest face value denominations on a coin ever, eventually reaching 1-billion-ℳ︁.<ref>[https://en.numista.com/catalogue/pieces20338.html 1 Billion Mark – Westfalen] at Numista.com. Accessed on 13 August 2020.</ref>

===First World War issues===
In 1914, the State Loan Office began issuing paper money known as ''Darlehnskassenschein'' (loan fund notes). These circulated alongside the issues of the [[Reichsbank]]. Most were 1ℳ︁ and 2ℳ︁ notes but there were also 5ℳ︁, 20ℳ︁, 50ℳ︁ and 100ℳ︁ notes.<ref>{{Cite web |title=Banknotes Catalog – List of banknotes for The state loan office note (Darlehnskassenschein) 1914–1924, Germany |url=https://www.allnumis.com/banknotes-catalog/germany/the-state-loan-office-note-darlehnskassenschein-1914-1922 |access-date=2024-06-24 |website=www.allnumis.com |language=en}}</ref>

===Post-war issues===
Between 1914 and the end of 1923 the Papiermark's rate of exchange against the U.S. dollar plummeted from 4.2ℳ︁ = US$1 to 4.2-trillionℳ︁ = US$1.{{sfn|Barisheff|2013|p=32}} The price of one gold mark ({{#expr:(1000000/2790) round 0}}&nbsp;mg of pure gold) in German paper currency at the end of 1918 was 2ℳ︁, but by the end of 1919 a gold mark cost 10ℳ︁.{{sfn|Fischer|2010|p=85}} This inflation worsened between 1920 and 1922, and the cost of a gold mark (or conversely the devaluation of the paper mark) rose from 15ℳ︁ to 1,282ℳ︁.{{sfn|Fischer|2010|p=85}} In 1923 the value of the paper mark had its worst decline. By July, the cost of a gold mark had risen to 101,112ℳ︁, and in September was already at 13-million-ℳ︁.{{sfn|Fischer|2010|p=85}} On 30 Nov 1923 it cost 1-trillion-ℳ︁ to buy a single gold mark.{{sfn|Fischer|2010|p=85}}

In October 1923, Germany experienced a 29,500% hyperinflation (roughly 21% interest per day).<ref name=":1">{{cite web |date=14 February 2011 |title=World Hyperinflations |url=http://www.karlwhelan.com/IMB/Hyperinflations.pdf |url-status=live |archive-url=https://web.archive.org/web/20130905085358/http://www.karlwhelan.com/IMB/Hyperinflations.pdf |archive-date=5 September 2013 |access-date=13 July 2012 |publisher=CNBC}}</ref> Historically, this one-month inflation rate has only been exceeded three times: [[Hyperinflation#Yugoslavia|Yugoslavia]], 313,000,000% (64.6% per day, January 1994); [[Hyperinflation#Zimbabwe|Zimbabwe]], 79.6&nbsp;billion% (98% per day, November 2008); and [[Hyperinflation#Hungary|Hungary]], 41.9 [[10^15|quadrillion]]% (207% per day, July 1946).<ref name=":1" /><ref>{{cite web |date=15 August 2012 |title=World Hyperinflations {{pipe}} Steve H. Hanke and Nicholas Krus {{pipe}} Cato Institute: Working Paper |url=http://www.cato.org/publications/working-paper/world-hyperinflations |url-status=live |archive-url=https://web.archive.org/web/20121017012645/http://www.cato.org/publications/working-paper/world-hyperinflations |archive-date=17 October 2012 |access-date=15 October 2012 |publisher=Cato.org}}</ref>

On 15 November 1923 the Papiermark was replaced by the [[Rentenmark]] at RM4.2 Rentenmark = US$1,{{sfn|Barisheff|2013|p=32}} or 1&nbsp;trillion-ℳ︁ = RM1 (exchangeable through July 1925).{{sfn|Widdig|2001|p=48}}

During the hyperinflation, ever higher denominations of [[banknotes]] were issued by the [[Reichsbank]]{{sfn|Cuhaj|2010|pp=555–64}} and other institutions (notably the [[Reichsbahn]] railway company).{{sfn|Cuhaj|2009|pp=629–36}} The Papiermark was produced and circulated in enormously large quantities. Before the war, the highest denomination was 1,000ℳ︁, equivalent to approximately [[Pound Sterling|£stg]]48.9 or US$238.09. In early 1922, 10,000ℳ︁ notes were introduced, followed by 100,000ℳ︁ and 1-million-ℳ︁ notes in February 1923. July 1923 saw notes up to 50-million-ℳ︁, with 10-milliard (10<sup>10</sup>)-ℳ︁ notes introduced in September. The hyperinflation peaked in October 1923 and banknote denominations rose to 100-[[1000000000000 (number)|trillion]] (10<sup>14</sup>)-ℳ︁. At the end of the hyperinflation, these notes were worth approximately £stg5.2 or US$23.81.<ref>{{Cite web |title=Hyperinflation in the Weimar Republic {{!}} Description & Facts {{!}} Britannica |url=https://www.britannica.com/event/hyperinflation-in-the-Weimar-Republic |access-date=2024-07-03 |website=www.britannica.com |language=en}}</ref><ref>{{Cite web |title=The German Hyperinflation of 1923 |url=https://www.amusingplanet.com/2017/12/the-german-hyperinflation-of-1923.html |access-date=2024-07-03 |website=www.amusingplanet.com |language=en}}</ref><ref>{{Cite web |last=Magazine |first=Smithsonian |last2=Bisno |first2=Adam |title=How Hyperinflation Heralded the Fall of German Democracy |url=https://www.smithsonianmag.com/history/how-hyperinflation-heralded-the-fall-of-german-democracy-180982204/ |access-date=2024-07-03 |website=Smithsonian Magazine |language=en}}</ref>

==Weimar Republic (1920–24)==
<!--{{In use|section}}-->

{| class="wikitable sortable"
|-
|+ Republic Treasury Notes, Weimar Republic Reichsbanknote
|-
! scope="col" style="width:40px;"| Year 
! scope="col" style="width:60px;"| Issue 
! scope="col" style="width:60px;"|Value{{#tag:ref |All values are in [[Reichsbank]] [[Reichsmark|Mark]]. | group="nb"}}
! scope="col" style="width:70px;"| Date{{#tag:ref |Series date printed on the banknote. | group="nb"}}
! scope="col" style="width:200px;"| Image
! scope="col" style="width:225px;"|Comments
|-

|rowspan="3"|{{center|1920}}
|rowspan="3"|{{sort|01-20|First}}{{sfn|Cuhaj|2010|pp=555–56}}
!{{ntsh|10}}{{dts|format=hide|1920-02-06}}10ℳ︁
|{{dts|6 Feb 1920}}
| {{Css Image Crop|Image = GER-67-Reichsbanknote-10 Mark (1920).jpg|bSize = 300|cWidth = 300|cHeight = 201|oTop = 0|oLeft = 0|Location = center}}
|{{convert|126x84|mm|in|abbr=on}}
|-
!{{ntsh|50}}{{dts|format=hide|1920-07-23}}50ℳ︁
|{{dts|23 Jul 1920}}
| {{Css Image Crop|Image = GER-68-Reichsbanknote-50 Mark (1920).jpg|bSize = 300|cWidth = 300|cHeight = 202|oTop = 1|oLeft = 0|Location = center}}
|{{convert|150x100|mm|in|abbr=on}}
|-
!{{ntsh|100}}{{dts|format=hide|1920-11-01}}100ℳ︁
|{{dts|1 Nov 1920}}
| {{Css Image Crop|Image = GER-69b-Reichsbanknote-100 Mark (1920).jpg|bSize = 300|cWidth = 300|cHeight = 202|oTop = 1|oLeft = 0|Location = center}}
|Portraits based on the [[:File:Bamberger Reiter BW 2.JPG|Bamberg riders]] at [[Bamberg Cathedral]]<br />{{convert|162x108|mm|in|abbr=on}}
|-

|rowspan="10"|{{center|1922}}
|| {{sort|01-22|First}}{{sfn|Cuhaj|2010|pp=556}}
!{{ntsh|10000}}{{dts|format=hide|1922-01-19}}10,000ℳ︁
|{{dts|19 Jan 1922}}
| {{Css Image Crop|Image = GER-71-Reichsbanknote-10000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 165|oTop = 1|oLeft = 0|Location = center}}
|''Portrait of a young Man'' by [[Albrecht Dürer]]<br />{{convert|210x124|mm|in|abbr=on}}
|-

|rowspan="2"|{{sort|02-22|Second}}{{sfn|Cuhaj|2010|pp=557}}
!{{ntsh|500}}{{dts|format=hide|1922-03-27}}500ℳ︁
|{{dts|27 Mar 1922}}
| {{Css Image Crop|Image = GER-73-Reichsbanknote-500 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 192|oTop = 1|oLeft = 0|Location = center}}
|[[:File:Jakob Meyer zum Pfeil (+ c. 1515).jpg|Jakob Meyer]] of the [[Meyer zum Pfeil]] family<br />{{convert|175x112|mm|in|abbr=on}}
|-
!{{ntsh|500}}{{dts|format=hide|1922-07-07}}500ℳ︁
|{{dts|7 Jul 1922}}
|{{Css Image Crop|Image = GER-74c-Reichsbanknote-500 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 166|oTop = 1|oLeft = 0|Location = center}}
|{{convert|173x90|mm|in|abbr=on}}
|-

|rowspan="5"|{{sort|03-22|Third}}{{sfn|Cuhaj|2010|pp=557}}
!{{ntsh|100}}{{dts|format=hide|1922-08-04}}100ℳ︁
|{{dts|4 Aug 1922}}
| {{Css Image Crop|Image = GER-75-Reichsbanknote-100 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 171|oTop = 1|oLeft = 0|Location = center}}
|{{convert|162x90|mm|in|abbr=on}}
|-
!{{ntsh|1000}}{{dts|format=hide|1922-09-15}}1,000ℳ︁
|{{dts|15 Sep 1922}}
| {{Css Image Crop|Image = GER-76-Reichsbanknote-1000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 163|oTop = 1|oLeft = 0|Location = center}}
|{{convert|160x85|mm|in|abbr=on}}
|-
!{{ntsh|5000}}{{dts|format=hide|1922-09-16}}5,000ℳ︁
|{{dts|16 Sep 1922}}
| {{Css Image Crop|Image = GER-77-Reichsbanknote-5000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 206|oTop = 1|oLeft = 0|Location = center}}
|Section of ''Portrait of a Man with a Coin'' by [[Hans Memling]]<br />{{convert|130x90|mm|in|abbr=on}}
|-
!{{ntsh|5000}}{{dts|format=hide|1922-11-19}}5,000ℳ︁
|{{dts|19 Nov 1922}}
| {{Css Image Crop|Image = GER-78-Reichsbanknote-5000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 168|oTop = 1|oLeft = 0|Location = center}}
|Portrait of Hans Urmiller based on ''Portrait of Hans Urmiller and his Son'' by [[Barthel Beham]]<br />{{convert|198x107|mm|in|abbr=on}}
|-
!{{ntsh|50000}}{{dts|format=hide|1922-11-19}}50,000ℳ︁
|{{dts|19 Nov 1922}}
| {{Css Image Crop|Image = GER-80-Reichsbanknote-50000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 176|oTop = 1|oLeft = 0|Location = center}}
|Bürgermeister Arnold von Brauweiler based on ''Burgomaster Arnold von Brauweiler'' by [[Barthel Bruyn the Elder]]<br />{{convert|190x110|mm|in|abbr=on}}
|-

|| {{sort|04-22|Fourth}}{{sfn|Cuhaj|2010|pp=557}}
!{{ntsh|5000}}{{dts|format=hide|1922-12-02}}5,000ℳ︁
|{{dts|2 Dec 1922}}
| {{Css Image Crop|Image = GER-81-Reichsbanknote-5000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 212|oTop = 1|oLeft = 0|Location = center}}
|Merchant Imhof based on ''Portrait of a Man'' by [[Albrecht Dürer]]<br />{{convert|130x90|mm|in|abbr=on}}
|-

|| {{sort|05-22|Fifth}}{{sfn|Cuhaj|2010|pp=558}}
!{{ntsh|1000}}{{dts|format=hide|1922-12-15}}1,000ℳ︁
|{{dts|15 Dec 1922}}
| {{Css Image Crop|Image = GER-82a-Reichsbanknote-1000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 197|oTop = 1|oLeft = 0|Location = center}}
|Portrait of Jörg Herz based on  [[:File:Jörg Herz Nürnberger Münzmeister painting.jpg|Jörg Herz Nürnberger Münzmeister]] by [[Georg Pencz]]<br />{{convert|140x90|mm|in|abbr=on}}
|-

|rowspan="51"|{{center|1923}}
|| {{sort|01-23|First}}{{sfn|Cuhaj|2010|pp=558}}
!{{ntsh|100000}}{{dts|format=hide|1923-02-01}}100,000ℳ︁
|{{dts|1 Feb 1923}}
| {{Css Image Crop|Image = GER-83-Reichsbanknote-100000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 182|oTop = 1|oLeft = 0|Location = center}}
|Merchant [[Georg Giese]] based on ''[[Portrait of Georg Giese]]'' by [[Hans Holbein the Younger]]<br />{{convert|190x115|mm|in|abbr=on}}
|-

|rowspan="3"| {{sort|02-23|Second}}{{sfn|Cuhaj|2010|pp=558}}
!{{ntsh|10000}}{{dts|format=hide|1923-02-03}}10,000ℳ︁
|{{dts|3 Feb 1923}}
|
|Not issued
|-
!{{ntsh|20000}}{{dts|format=hide|1923-02-20}}20,000ℳ︁
|{{dts|20 Feb 1923}}
| {{Css Image Crop|Image = GER-85-Reichsbanknote-20000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 182|oTop = 1|oLeft = 0|Location = center}}
|{{convert|160x95|mm|in|abbr=on}}
|-
!{{ntsh|1000000}}{{dts|format=hide|1923-02-20}}1,000,000ℳ︁
|{{dts|20 Feb 1923}}
| {{Css Image Crop|Image = GER-86-Reichsbanknote-1 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 210|oTop = 1|oLeft = 0|Location = center}}
|{{convert|160x110|mm|in|abbr=on}}
|-

|rowspan="4"| {{sort|03-23|Third}}{{sfn|Cuhaj|2010|pp=558-59}}
!{{ntsh|5000}}{{dts|format=hide|1923-03-15}}5,000ℳ︁
|{{dts|15 Mar 1923}}
| {{Css Image Crop|Image = GER-87-Reichsbanknote-5000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 185|oTop = 1|oLeft = 0|Location = center}}
|Portrait of Hans Urmiller based on ''Portrait of Hans Urmiller and his Son'' by [[Barthel Beham]]<br />{{convert|148x90|mm|in|abbr=on}}
|-
!{{ntsh|500000}}{{dts|format=hide|1923-05-01}}500,000ℳ︁
|{{dts|1 May 1923}}
| {{Css Image Crop|Image = GER-88-Reichsbanknote-500000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 172|oTop = 1|oLeft = 0|Location = center}}
|{{convert|170x95|mm|in|abbr=on}}
|-
!{{ntsh|2000000}}{{dts|format=hide|1923-07-23}}2,000,000ℳ︁
|{{dts|23 Jul 1923}}
|{{Css Image Crop|Image = GER-89-Reichsbanknote-2 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 162|oTop = 1|oLeft = 0|Location = center}}
|Merchant [[Georg Giese]] based on ''[[Portrait of Georg Giese]]'' by [[Hans Holbein the Younger]]<br />{{convert|162x87|mm|in|abbr=on}}
|-
!{{ntsh|5000000}}{{dts|format=hide|1923-06-01}}5,000,000ℳ︁
|{{dts|1 Jun 1923}}
| {{Css Image Crop|Image = GER-90-Reichsbanknote-5 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 165|oTop = 1|oLeft = 0|Location = center}}
|{{convert|170x95|mm|in|abbr=on}}
|-

|rowspan="8"| {{sort|04-23|Fourth}}{{sfn|Cuhaj|2010|pp=559}}
!{{ntsh|100000}}{{dts|format=hide|1923-07-25}}100,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-91-Reichsbanknote-100000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 220|oTop = 1|oLeft = 0|Location = center}}
|{{convert|110x80|mm|in|abbr=on}}
|-
!{{ntsh|500000}}{{dts|format=hide|1923-07-25}}500,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-92-Reichsbanknote-500000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 143|oTop = 1|oLeft = 0|Location = center}}
|{{convert|175x80|mm|in|abbr=on}}
|-
!{{ntsh|1000000}}{{dts|format=hide|1923-07-25}}1,000,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-93-Reichsbanknote-1 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 175|oTop = 1|oLeft = 0|Location = center }}
|{{convert|160x95|mm|in|abbr=on}}
|-
!{{ntsh|1000000}}{{dts|format=hide|1923-07-25}}1,000,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-94-Reichsbanknote-1 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 131|oTop = 1|oLeft = 0|Location = center }}
|{{convert|185x80|mm|in|abbr=on}}
|-
!{{ntsh|5000000}}{{dts|format=hide|1923-07-25}}5,000,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-95-Reichsbanknote-5 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 131|oTop = 1|oLeft = 0|Location = center}}
|{{convert|190x80|mm|in|abbr=on}}
|-
!{{ntsh|10000000}}{{dts|format=hide|1923-07-25}}10,000,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-96-Reichsbanknote-10 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 125|oTop = 1|oLeft = 0|Location = center}}
|{{convert|195x80|mm|in|abbr=on}}
|-
!{{ntsh|20000000}}{{dts|format=hide|1923-07-25}}20,000,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-97b-Reichsbanknote-20 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 132|oTop = 1|oLeft = 0|Location = center}}
|{{convert|195x83|mm|in|abbr=on}}
|-
!{{ntsh|50000000}}{{dts|format=hide|1923-07-25}}50,000,000ℳ︁
|{{dts|25 Jul 1923}}
| {{Css Image Crop|Image = GER-98a-Reichsbanknote-50 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 137|oTop = 1|oLeft = 0|Location = center}}
|{{convert|195x86|mm|in|abbr=on}}
|-

|rowspan="7"| {{sort|05-23|Fifth}}{{sfn|Cuhaj|2010|pp=560-61}}
!{{ntsh|50000}}{{dts|format=hide|1923-08-09}}50,000ℳ︁
|{{dts|9 Aug 1923}}
|{{Css Image Crop|Image = GER-99-Reichsbanknote-50000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 202|oTop = 1|oLeft = 0|Location = center}}
|{{convert|105x70|mm|in|abbr=on}}
|-
!{{ntsh|200000}}{{dts|format=hide|1923-08-09}}200,000ℳ︁
|{{dts|9 Aug 1923}}
| {{Css Image Crop|Image = GER-100-Reichsbanknote-200000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 185|oTop = 1|oLeft = 0|Location = center}}
|{{convert|115x70|mm|in|abbr=on}}
|-
!{{ntsh|1000000}}{{dts|format=hide|1923-08-09}}1,000,000ℳ︁
|{{dts|9 Aug 1923}}
| {{Css Image Crop|Image = GER-101-Reichsbanknote-1 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 200|oTop = 1|oLeft = 0|Location = center}}
|{{convert|120x80|mm|in|abbr=on}}
|-
!{{ntsh|2000000}}{{dts|format=hide|1923-08-09}}2,000,000ℳ︁
|{{dts|9 Aug 1923}}
| {{Css Image Crop|Image = GER-103-Reichsbanknote-2 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 197|oTop = 1|oLeft = 0|Location = center}}
|{{convert|125x80|mm|in|abbr=on}}
|-
!{{ntsh|5000000}}{{dts|format=hide|1923-08-20}}5,000,000ℳ︁
|{{dts|20 Aug 1923}}
| {{Css Image Crop|Image = GER-105-Reichsbanknote-5 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 190|oTop = 1|oLeft = 0|Location = center}}
|{{convert|128x80|mm|in|abbr=on}}
|-
!{{ntsh|10000000}}{{dts|format=hide|1923-08-22}}10,000,000ℳ︁
|{{dts|22 Aug 1923}}
| {{Css Image Crop|Image = GER-106-Reichsbanknote-10 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 192|oTop = 1|oLeft = 0|Location = center}}
|{{convert|125x80|mm|in|abbr=on}}
|-
!{{ntsh|100000000}}{{dts|format=hide|1923-08-22}}100,000,000ℳ︁
|{{dts|22 Aug 1923}}
| {{Css Image Crop|Image = GER-107-Reichsbanknote-100 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 170|oTop = 1|oLeft = 0|Location = center}}
|{{convert|150x85|mm|in|abbr=on}}
|-

|rowspan="5"|{{sort|06-23|Sixth}}{{sfn|Cuhaj|2010|pp=561-62}}
!{{ntsh|20000000}}{{dts|format=hide|1923-09-01}}20,000,000ℳ︁
|{{dts|1 Sep 1923}}
| {{Css Image Crop|Image = GER-108-Reichsbanknote-20 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 200|oTop = 1|oLeft = 0|Location = center}}
|{{convert|125x82|mm|in|abbr=on}}
|-
!{{ntsh|50000000}}{{dts|format=hide|1923-09-01}}50,000,000ℳ︁
|{{dts|1 Sep 1923}}
| {{Css Image Crop|Image = GER-109-Reichsbanknote-50 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 204|oTop = 1|oLeft = 0|Location = center}}
|{{convert|124x84|mm|in|abbr=on}}
|-
!{{ntsh|500000000}}{{dts|format=hide|1923-09-01}}500,000,000ℳ︁
|{{dts|1 Sep 1923}}
| {{Css Image Crop|Image = GER-110-Reichsbanknote-500 Million Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 172|oTop = 1|oLeft = 0|Location = center}}
|{{convert|155x85|mm|in|abbr=on}}
|-
!{{ntsh|500000000000}}{{dts|format=hide|1923-09-01}}500,000,000,000ℳ︁||{{dts|1 Sep 1923}}
|
| Specimen only
|-
!{{ntsh|1000000000000}}{{dts|format=hide|1923-09-01}}1,000,000,000,000ℳ︁||{{dts|1 Sep 1923}}
|
|Specimen only
|-

|rowspan="8"| {{sort|07-23|Seventh}}{{sfn|Cuhaj|2010|pp=561-62}}
!{{ntsh|1000000000}}{{dts|format=hide|1923-09-05}}1,000,000,000ℳ︁||{{dts|5 Sep 1923}}
| {{Css Image Crop|Image = GER-113-Reichsbanknote-1 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 192|oTop = 1|oLeft = 0|Location = center}}
|Overprinted on 15 Dec 1922 note<br />{{convert|140x90|mm|in|abbr=on}}
|-
!{{ntsh|1000000000}}{{dts|format=hide|1923-09-05}}1,000,000,000ℳ︁||{{dts|5 Sep 1923}}
| {{Css Image Crop|Image = GER-114-Reichsbanknote-1 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 167|oTop = 1|oLeft = 0|Location = center}}
|{{convert|160x86|mm|in|abbr=on}}
|-
!{{ntsh|5000000000}}{{dts|format=hide|1923-09-10}}5,000,000,000ℳ︁||{{dts|10 Sep 1923}}
| {{Css Image Crop|Image = GER-115-Reichsbanknote-5 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 160|oTop = 1|oLeft = 0|Location = center}}
|{{convert|165x85|mm|in|abbr=on}}
|-
!{{ntsh|10000000000}}{{dts|format=hide|1923-09-15}}10,000,000,000ℳ︁||{{dts|15 Sep 1923}}
| {{Css Image Crop|Image = GER-116-Reichsbanknote-10 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 157|oTop = 1|oLeft = 0|Location = center}}
|
|-
!{{ntsh|10000000000}}{{dts|format=hide|1923-10-01}}10,000,000,000ℳ︁||{{dts|1 Oct 1923}}
| {{Css Image Crop|Image = GER-117-Reichsbanknote-10 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 202|oTop = 1|oLeft = 0|Location = center}}
|{{convert|160x105|mm|in|abbr=on}}
|-
!{{ntsh|20000000000}}{{dts|format=hide|1923-10-01}}20,000,000,000ℳ︁||{{dts|1 Oct 1923}}
| {{Css Image Crop|Image = GER-118-Reichsbanknote-20 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 197|oTop = 1|oLeft = 0|Location = center}}
|{{convert|140x90|mm|in|abbr=on}}
|-
!{{ntsh|50000000000}}{{dts|format=hide|1923-10-10}}50,000,000,000ℳ︁||{{dts|10 Oct 1923}}
| {{Css Image Crop|Image = GER-119c-Reichsbanknote-50 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 150|oTop = 1|oLeft = 0|Location = center}}
|{{convert|176x86|mm|in|abbr=on}}
|-
!{{ntsh|200000000000}}{{dts|format=hide|1923-10-15}}200,000,000,000ℳ︁||{{dts|15 Oct 1923}}
| {{Css Image Crop|Image = GER-121-Reichsbanknote-200 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 175|oTop = 1|oLeft = 0|Location = center}}
|{{convert|140x80|mm|in|abbr=on}}
|-

|rowspan="3"| {{sort|08-23|Eighth}}{{sfn|Cuhaj|2010|pp=562}}
!{{ntsh|1000000000}}{{dts|format=hide|1923-10-20}}1,000,000,000ℳ︁||{{dts|20 Oct 1923}}
| {{Css Image Crop|Image = GER-122-Reichsbanknote-1 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 160|oTop = 1|oLeft = 0|Location = center}}
|{{convert|127x61|mm|in|abbr=on}}
|-
!{{ntsh|5000000000}}{{dts|format=hide|1923-10-20}}5,000,000,000ℳ︁||{{dts|20 Oct 1923}}
| {{Css Image Crop|Image = GER-123a-Reichsbanknote-5 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 156|oTop = 1|oLeft = 0|Location = center}}
|{{convert|130x64|mm|in|abbr=on}}
|-
!{{ntsh|500000000000}}{{dts|format=hide|1923-10-20}}500,000,000,000ℳ︁||{{dts|20 Oct 1923}}
| {{Css Image Crop|Image = GER-124a-Reichsbanknote-500 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 187|oTop = 1|oLeft = 0|Location = center}}
|Overprinted on 15 Mar 1923 note<br />Portrait of Hans Urmiller based on ''Portrait of Hans Urmiller and his Son'' by [[Barthel Beham]]<br />{{convert|145x90|mm|in|abbr=on}}
|-

|rowspan="4"| {{sort|09-23|Ninth}}{{sfn|Cuhaj|2010|pp=562}}
!{{ntsh|50000000000}}{{dts|format=hide|1923-10-26}}50,000,000,000ℳ︁||{{dts|26 Oct 1923}}
| {{Css Image Crop|Image = GER-125-Reichsbanknote-50 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 157|oTop = 1|oLeft = 0|Location = center}}
|{{convert|135x65|mm|in|abbr=on}}
|-
!{{ntsh|100000000000}}{{dts|format=hide|1923-10-26}}100,000,000,000ℳ︁||{{dts|26 Oct 1923}}
| {{Css Image Crop|Image = GER-126-Reichsbanknote-100 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 147|oTop = 1|oLeft = 0|Location = center}}
|{{convert|135x65|mm|in|abbr=on}}
|-
!{{ntsh|500000000000}}{{dts|format=hide|1923-10-26}}500,000,000,000ℳ︁||{{dts|26 Oct 1923}}
| {{Css Image Crop|Image = GER-127a-Reichsbanknote-500 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 146|oTop = 1|oLeft = 0|Location = center}}
|{{convert|137x65|mm|in|abbr=on}}
|-
!{{ntsh|100000000000000}}{{dts|format=hide|1923-10-26}}100,000,000,000ℳ︁||{{dts|26 Oct 1923}}
|
|{{convert|174x86|mm|in|abbr=on}}
|-

|rowspan="4"| {{sort|10-23|Tenth}}{{sfn|Cuhaj|2010|pp=562-63}}
!{{ntsh|1000000000000}}{{dts|format=hide|1923-11-01}}1,000,000,000,000ℳ︁||{{dts|1 Nov 1923}}
| {{Css Image Crop|Image = GER-129-Reichsbanknote-1 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 145|oTop = 1|oLeft = 0|Location = center}}
|{{convert|137x65|mm|in|abbr=on}}
|-
!{{ntsh|5000000000000}}{{dts|format=hide|1923-11-01}}5,000,000,000,000ℳ︁||{{dts|1 Nov 1923}}
|{{Css Image Crop|Image = GER-130-Reichsbanknote-5 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 156|oTop = 1|oLeft = 0|Location = center}}
|{{convert|168x86|mm|in|abbr=on}}
|-
!{{ntsh|10000000000000}}{{dts|format=hide|1923-11-01}}10,000,000,000,000ℳ︁||{{dts|1 Nov 1923}}
| {{Css Image Crop|Image = GER-131-Reichsbanknote-10 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 156|oTop = 1|oLeft = 0|Location = center}}
|{{convert|171x86|mm|in|abbr=on}}
|-
!{{ntsh|10000000000000}}{{dts|format=hide|1923-11-01}}10,000,000,000,000ℳ︁||{{dts|1 Nov 1923}}
| {{Css Image Crop|Image = GER-132-Reichsbanknote-10 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 208|oTop = 1|oLeft = 0|Location = center}}
|{{convert|120x82|mm|in|abbr=on}}
|-

|rowspan="4"| {{sort|11-23|Eleventh}}{{sfn|Cuhaj|2010|pp=563}}
!{{ntsh|100000000000}}{{dts|format=hide|1923-11-23}}100,000,000,000ℳ︁||{{dts|5 Nov 1923}}
| {{Css Image Crop|Image = GER-133-Reichsbanknote-100 Billion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 149|oTop = 1|oLeft = 0|Location = center}}
|{{convert|135x65|mm|in|abbr=on}}
|-
!{{ntsh|1000000000000}}{{dts|format=hide|1923-11-05}}1,000,000,000,000ℳ︁||{{dts|5 Nov 1923}}
| {{Css Image Crop|Image = GER-134-Reichsbanknote-1 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 186|oTop = 1|oLeft = 0|Location = center}}
|{{convert|143x86|mm|in|abbr=on}}
|-
!{{ntsh|2000000000000}}{{dts|format=hide|1923-11-05}}2,000,000,000,000ℳ︁||{{dts|5 Nov 1923}}
| {{Css Image Crop|Image = GER-135-Reichsbanknote-2 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 180|oTop = 1|oLeft = 0|Location = center}}
|{{convert|120x71|mm|in|abbr=on}}
|-
!{{ntsh|5000000000000}}{{dts|format=hide|1923-11-07}}5,000,000,000,000ℳ︁||{{dts|7 Nov 1923}}
| {{Css Image Crop|Image = GER-136-Reichsbanknote-5 Trillion Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 162|oTop = 1|oLeft = 0|Location = center}}
|{{convert|165x86|mm|in|abbr=on}}
|-

|rowspan="5"|{{center|1924}}
|rowspan="4"| {{sort|01-24|First}}{{sfn|Cuhaj|2010|pp=563}}
!{{ntsh|10000000000000}}{{dts|format=hide|1924-02-01}}10,000,000,000,000ℳ︁||{{dts|1 Feb 1924}}
|{{Css Image Crop|Image = GER-137-Reichsbanknote-10 Trillion Mark (1924).jpg|bSize = 300|cWidth = 300|cHeight = 158|oTop = 1|oLeft = 0|Location = center}}
|{{convert|140x72|mm|in|abbr=on}}
|-
!{{ntsh|20000000000000}}{{dts|format=hide|1924-02-05}}20,000,000,000,000ℳ︁||{{dts|5 Feb 1924}}
|{{Css Image Crop|Image = GER-138-Reichsbanknote-20 Trillion Mark (1924).jpg|bSize = 300|cWidth = 300|cHeight = 183|oTop = 1|oLeft = 0|Location = center}}
|Portrait of a woman based on ''Portrait of a young Venetian woman'' by [[Albrecht Dürer]]<br />{{convert|160x95|mm|in|abbr=on}}
|-
!{{ntsh|50000000000000}}{{dts|format=hide|1924-02-10}}50,000,000,000,000ℳ︁||{{dts|10 Feb 1924}}
| {{Css Image Crop|Image = 50 Billionen Mark 1924-02-10.jpg|bSize = 300|cWidth = 300|cHeight = 162|oTop = 1|oLeft = 0|Location = center}}
|[[Portrait of Jakob Muffel|Jakob Muffel]] based on ''Portrait of Jakob Muffel'' by [[Albrecht Dürer]]<br />{{convert|175x95|mm|in|abbr=on}}
|-
!{{ntsh|100000000000000}}{{dts|format=hide|1924-02-15}}100,000,000,000,000ℳ︁||{{dts|15 Feb 1924}}
| {{Css Image Crop|Image = GER-140-Reichsbanknote-100 Trillion Mark (1924).jpg|bSize = 300|cWidth = 300|cHeight = 162|oTop = 1|oLeft = 0|Location = center}}
|Portrait of [[Willibald Pirckheimer]] based on a painting by [[Albrecht Dürer]]<br />{{convert|180x95|mm|in|abbr=on}}
|-

|| {{sort|02-24|Second}}{{sfn|Cuhaj|2010|pp=563-64}}
!{{ntsh|5000000000000}}{{dts|format=hide|1924-03-15}}5,000,000,000,000ℳ︁||{{dts|15 Mar 1924}}
|{{Css Image Crop|Image = GER-141-Reichsbanknote-5 Trillion Mark (1924).jpg|bSize = 300|cWidth = 300|cHeight = 181|oTop = 4|oLeft = 0|Location = center}}
|{{convert|120x72|mm|in|abbr=on}}
|}

==Danzig==
The Danziger Privat Actien-Bank (opened 1856) was the first bank established in Danzig.{{sfn|Kelly|1920|p=30}} They issued two series of notes denominated in thalers (1857 and 1862–73) prior to issuing the mark (1875, 1882, 1887).{{sfn|Cuhaj|2009|p=613}} These mark issues are extremely rare.{{sfn|Cuhaj|2009|p=613}} The [https://translate.google.com/translate?hl=en&sl=de&u=http://www.moneypedia.de/index.php/Bank:_Ostbank_f%25C3%25BCr_Handel_und_Gewerbe&prev=search Ostbank fur Handel and Gewerbe] opened 16 March 1857, and by 1911 two additional banks (the Imperial Bank of Germany and the Norddeutsche Credit-Anstalt) were in operation.{{sfn|Rand McNally|1911|p=972}}

===Issuance of the Danzig Papiermark===
The Papiermark was issued by Danzig from 1914 to 1923.{{sfn|Cuhaj|2010|pp=427–30}} Five series were issued during World War I by the City Council (1914, 1916, 1918 first and second issue, and 1919).{{sfn|Cuhaj|2010|pp=427–28}} Denominations ranged from 10₰ to 20ℳ︁.{{sfn|Cuhaj|2010|pp=427–28}} The Free City of Danzig municipal senate issued an additional four post-World War I series of notes (1922, 1923 First issue, 1923 Provisional issue, and 1923 Inflation issue).{{sfn|Cuhaj|2010|pp=428–30}} The 1922 issue (31 October 1922) was denominated in 100ℳ︁, 500ℳ︁, and 1,000ℳ︁ notes.{{sfn|Cuhaj|2010|pp=428}} The denominations for the 1923 issue were 1,000ℳ︁ (15 March 1923), and 10,000ℳ︁ and 50,000ℳ︁ notes (20 March 1923).{{sfn|Cuhaj|2010|pp=429}}  The 1923 provisional issue reused earlier notes with a large red stamp indicating the new (and higher) denominations of 1&nbsp;million-ℳ︁ (8 August 1923) and 5&nbsp;million-ℳ︁ (15 October 1923) mark.{{sfn|Cuhaj|2010|pp=429–30}} The last series of Danzig mark was the 1923 inflation issue of 1&nbsp;million-ℳ︁ (8 August 1923), 10&nbsp;million-ℳ︁ (31 August 1923), 100&nbsp;million-ℳ︁ (22 September 1923), 500&nbsp;million-ℳ︁ (26 September 1923), 5&nbsp;billion-ℳ︁ and 10&nbsp;billion-ℳ︁ notes (11 October 1923).{{sfn|Cuhaj|2010|pp=430}} The Danzig mark was replaced by the [[Danzig gulden]], first issued by the Danzig Central Finance Department on 22 October 1923.{{sfn|Cuhaj|2010|pp=430}}

{| class="wikitable"
|+ Papiermark of Danzig
|-
! scope="col" style="width:100px;"| Issue
! scope="col" style="width:100px;"| Value
! scope="col" style="width:150px;"| Image
|-

|rowspan="4" style="text-align:center;" |1914 Emergency
!50₰
| {{Css Image Crop|Image = DAN-1-Danzig City Council-50 Pfennig (1914).jpg|bSize = 285|cWidth = 300|cHeight = 200|oTop = 0|oLeft = 0|Location = center}}
|-
!1ℳ︁
| {{Css Image Crop|Image = DAN-2-Danzig City Council-1 Mark (1914).jpg|bSize = 280|cWidth = 300|cHeight = 200|oTop = 0|oLeft = 0|Location = center}}
|-
!2ℳ︁
| {{Css Image Crop|Image = DAN-3-Danzig City Council-2 Mark (1914).jpg|bSize = 280|cWidth = 300|cHeight = 200|oTop = 0|oLeft = 0|Location = center}}
|-
!3ℳ︁
| {{Css Image Crop|Image = DAN-4-Danzig City Council-3 Mark (1914).jpg|bSize = 280|cWidth = 300|cHeight = 200|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="2" style="text-align:center;" |1916
!10₰
| {{Css Image Crop|Image = DAN-5-Danzig City Council-10 Pfennig (1916).jpg|bSize = 280|cWidth = 300|cHeight = 139|oTop = 0|oLeft = 0|Location = center}}
|-
!50₰
| {{Css Image Crop|Image = DAN-6-Danzig City Council-50 Pfennig (1916).jpg|bSize = 280|cWidth = 300|cHeight = 136|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="2" style="text-align:center;" |1918 First
!5ℳ︁
| {{Css Image Crop|Image = DAN-7-Danzig City Council-5 Mark (1918).jpg|bSize = 280|cWidth = 300|cHeight = 245|oTop = 0|oLeft = 0|Location = center}}
|-
!20ℳ︁
| {{Css Image Crop|Image = DAN-8-Danzig City Council-20 Mark (1918).jpg|bSize = 280|cWidth = 300|cHeight = 213|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="2" style="text-align:center;" |1918 Second
!50₰
| {{Css Image Crop|Image = DAN-9-Danzig City Council-50 Pfennig (1918).jpg|bSize = 302|cWidth = 150|cHeight = 252|oTop = 4|oLeft = 3|Location = center}}
|-
!20ℳ︁
|
|-

|{{center|1919}}
!50₰
| {{Css Image Crop|Image = DAN-11-Danzig City Council-50 Pfennig (1919).jpg|bSize = 270|cWidth = 300|cHeight = 218|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="3" style="text-align:center;" |1922
!100ℳ︁
| {{Css Image Crop|Image = DAN-13-Danzig-100 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 203|oTop = 0|oLeft = 0|Location = center}}
|-
!500ℳ︁
| {{Css Image Crop|Image = DAN-14-Danzig-500 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 201|oTop = 0|oLeft = 0|Location = center}}
|-
!1,000ℳ︁
| {{Css Image Crop|Image = DAN-15-Danzig-1000 Mark (1922).jpg|bSize = 300|cWidth = 300|cHeight = 180|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="4" style="text-align:center;" |1923 First
!1,000ℳ︁
|
|-
!10,000ℳ︁
| {{Css Image Crop|Image = DAN-17-Danzig-10000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 182|oTop = 0|oLeft = 0|Location = center}}
|-
!10,000ℳ︁
| {{Css Image Crop|Image = DAN-18-Danzig-10000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 182|oTop = 0|oLeft = 0|Location = center}}
|-
!50,000ℳ︁
| {{Css Image Crop|Image = DAN-19-Danzig-50000 Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 203|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="2" style="text-align:center;" |1923 Provisional
!1,000,000ℳ︁
| {{Css Image Crop|Image = DAN-21-Danzig-1MIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 204|oTop = 0|oLeft = 0|Location = center}}
|-
!5,000,000ℳ︁
| {{Css Image Crop|Image = DAN-23-Danzig-5MIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 204|oTop = 0|oLeft = 0|Location = center}}
|-

|rowspan="6" style="text-align:center;" |1923 Inflation
!1,000,000ℳ︁
| {{Css Image Crop|Image = DAN-24-Danzig-1MIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 166|oTop = 0|oLeft = 0|Location = center}}
|-
!10,000,000ℳ︁
| {{Css Image Crop|Image = DAN-25-Danzig-10MIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 158|oTop = 0|oLeft = 0|Location = center}}
|-
!100,000,000ℳ︁
| {{Css Image Crop|Image = DAN-27-Danzig-100MIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 185|oTop = 0|oLeft = 0|Location = center}}
|-
!500,000,000ℳ︁
| {{Css Image Crop|Image = DAN-28a-Danzig-500MIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 172|oTop = 0|oLeft = 0|Location = center}}
|-
!5,000,000,000ℳ︁
| {{Css Image Crop|Image = DAN-30-Danzig-5BIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 195|oTop = 0|oLeft = 0|Location = center}}
|-
!10,000,000,000ℳ︁
| {{Css Image Crop|Image = DAN-31-Danzig-10BIL Mark (1923).jpg|bSize = 300|cWidth = 300|cHeight = 195|oTop = 0|oLeft = 0|Location = center}}
|}

==Note on numeration==
{{see also|Long and short scales}}
In German, ''[[wikt:Milliarde#German|Milliarde]]'' is 1,000,000,000, or one thousand million, while ''[[wikt:Billion#German|Billion]]'' is 1,000,000,000,000, or one million million.

==See also==
{{Portal|Germany|Money|Numismatics}}
* [[1922 in Germany]]
* [[1923 in Germany]]
* [[Hyperinflation]]
* [[Hyperinflation in Zimbabwe]]
* [[Inflation hedge]]

==Notes==
{{Reflist|group="nb"}}
{{reflist|group=note}}

==Citations==
{{reflist}}

==References==
{{refbegin}}
* {{Cite book|url=https://books.google.com/books?id=Vo2g3bF9mfkC&pg=PT32|title=$10,000 Gold – Why Gold's Inevitable Rise is the Investor's Safe Haven|publisher=John Wiley & Sons Canada, Ltd.|isbn=978-1-118-44350-7|last1=Barisheff|first1=Nick|year=2013}}
* {{Cite book|url=https://books.google.com/books?id=22dKPgAACAAJ&q=standard+catalog+of+specialized+issues|title=Standard Catalog of World Paper Money Specialized Issues|edition=11|publisher=Krause|isbn=978-1-4402-0450-0|editor-last=Cuhaj|editor-first=George S.|year=2009}}
* {{Cite book|url=https://books.google.com/books?id=BuNA39dnuHsC|title=Standard Catalog of World Paper Money General Issues (1368–1960)|edition=13|publisher=Krause|isbn=978-1-4402-1293-2|editor-last=Cuhaj|editor-first=George S.|year=2010}}{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }}
* {{Cite book|url= https://books.google.com/books?id=Me09Xuogp-sC|title= German Hyperinflation 1922/23: A Law and Economics Approach|publisher= Josef Eul Verlag GmbH|isbn= 978-3-89936-931-1|editor-last= Fischer|editor-first= Wolfgang C.|year= 2010}}
* GermanNotes.com (2005). ''German Paper Money 1871–1999''. [https://archive.today/20060528203514/http://www.zapzero.com/gn/shop/product_info.php?cPath=28&products_id=82 eBook from germannotes.com]
* {{cite journal|last1= Kelly|first1= William J.|year= 1920|title= The Situation at Danzig|journal= Journal of the American-Polish Chamber of Commerce and Industry|volume= 1|issue= 6|publisher= American-Polish Chamber of Commerce and Industry|url= https://books.google.com/books?id=iGHnAAAAMAAJ&pg=PA30}}
* {{numis cite SCWC|date=1991}}<!--Krause & Mishler-->
* {{numis cite SCWPM|date=1994}}<!--Pick-->
* {{cite journal|last1= Rand McNally|year= 1911|title= The Rand-McNally Banker's Director and List of Attorneys|journal= Rand McNally International Bankers Directory|volume= 70|issue= 1|publisher= Rand McNally & Company|url= https://books.google.com/books?id=hG07AQAAMAAJ}}
* {{Cite book|url=https://books.google.com/books?id=kvKAATycUzIC&pg=PA48|title=Culture and Inflation in Weimar Germany|publisher=University of California Press|isbn=0-520-22290-3|last1=Widdig|first1=Bernd|year=2001}}
{{refend}}

==External links==
* [https://web.archive.org/web/20160107203002/http://www.schoolshistory.org.uk/ASLevel_History/week6_economicrecovery.htm Exchange rates]

{{N-start}}
{{N-before|currency=[[German gold mark|Goldmark]]|reason=}}
{{N-currency|location=[[Germany]]|start=1914|end=1923}}
{{N-after|currency=[[German rentenmark|Rentenmark]]|reason=inflation|ratio= 1 Rentenmark = 1,000,000,000 Papiermark, and 4.2 Rentenmark = US$1}}
{{End}}

{{Mark}}

[[Category:Currencies of Germany]]
[[Category:Economy of the Weimar Republic]]
[[Category:Modern obsolete currencies]]
[[Category:Economic history of World War I]]
[[Category:Currencies of Poland]]
[[Category:Free City of Danzig]]
[[Category:1923 disestablishments]]
[[Category:1920s in economic history]]
[[Category:1923 in Europe]]