Germany Altona 5 marks 1918

One of the most severe of hyperinflations was that suffered by Hungary after the Second World War. Denominations soared 10 to the power of 23 in very short order making it one of the worst inflationary periods in the last 100 years. This makes this 10,000 pengo note seem very modest by comparison. It was issued at the start of the crazy times and has a stamp attached (P119) The front has a portrait of a young woman while the back has Hungarian and Russian text, Grading at least VF.

The hyperinflation suffered by Germany after the First World War ravaged the economy. Banknotes were issued with values in the millions and even billions to cope with rising prices. One such note was the 20 million marks dated 1923 (P108) Printed on one side only, they are simple affairs which in no time at all was eclipsed by even great denominations. Our examples are in Crisp Uncirculated.

Crisp uncirculated Notgeld from the 1920's