2 000 000 mark 1923

Common. Despite its historical significance as a hyperinflation emergency note, this Pick S1012 denomination and type were issued in substantial quantities by the Reichsbahn and survived in significant numbers. The eBay reference showing a PMG 45 example selling for $15.50 in March 2024 confirms these notes remain affordable and regularly traded, with low realized prices typical of common hyperinflation-era vouchers. While historically important, they lack the scarcity factors required for rare classification.

This Reichsbahn emergency note was issued by the German Reich Transport Ministry during the catastrophic hyperinflation of 1923, when the German mark collapsed in value and emergency currency substitutes became necessary. The Deutsche Reichsbahn (German state railway) issued these vouchers to maintain liquidity for wages and operations, with the imperial eagle seal and formal government language emphasizing its quasi-official status. The August 20, 1923 date and November 30, 1923 redemption deadline represent the final months before the introduction of the Rentenmark stabilized the currency.

The obverse features a classical composition with ornamental crosshatch borders framing the design. The dominant symbol is a winged emblem (stylized eagle wings) positioned prominently at the upper center, representing the Reichsbahn's authority. The left-center portion displays an imperial German eagle seal within a circular border, a heraldic device symbolizing state authority. The denomination 'Zwei Millionen Mark' is arranged vertically on the left and across the center. Text is printed in a formal administrative font emphasizing the note's official status as an emergency government voucher. The reverse is predominantly plain with minimal ornamentation, featuring only the counterfeiting warning in small text. Color scheme consists of brown on green and lilac-brown underprint, creating a muted palette typical of official German government documents.

FRONT: 'Deutsche Reichsbahn' (German Reichsbahn) | 'Zwei Millionen Mark' (Two Million Mark) | 'Dieser Schein wird an allen Kassen der Deutschen Reichsbahn wie gesetzliche Zahlmittel in Zahlung genommen und bis zum 30. November 1923 eingelöst.' (This note will be accepted at all counters of the German Reichsbahn as legal tender and will be redeemed until November 30, 1923.) | 'Berlin, den 20. August 1923' (Berlin, August 20, 1923) | 'Der Reichsverkehrsminister' (The Reich Transport Minister) | 'A51' (series designation) | '97407' (serial number) | 'Osten' (East - regional designation). BACK: 'Fälschungen werden nach §263 StGB bestraft' (Counterfeiting is punishable under §263 of the Criminal Code).

Letterpress printing with fine line engraving, evidenced by the sharp, crisp definition of the ornamental crosshatch border pattern and the detailed rendering of the eagle seal and winged emblem. The uniform color application and clean registration of text and symbols across both sides indicate professional German security printing standards of the 1923 period. The fine background line patterns visible in the visual analysis suggest plate-engraved security printing, standard for German government-authorized currency and vouchers.

Series designation 'A51' with serial number '97407' and regional marking 'Osten' (East) indicate this is an eastbound regional variant. The Pick catalog number P-S1012 identifies this as a Reichsbahn special issue. Known varieties for this issue include different regional designations (Osten, Westen, etc.) and various series letters (A-series noted here). The August 20, 1923 date is standard for this issuance, though Reichsbahn notes from the hyperinflation period exist with various dates within the 1923 emergency period.