Papiermark

Papiermark (German: Paper mark) was the nickname for the banknotes issued during the hyperinflation in Germany in 1922 and mainly 1923. Ever higher denominations of banknotes were issued by the central bank and other institutions. No coins were minted during this period, only banknotes were issued. As a result, the currency was referred to as Papiermark, or Mark made of paper. This money was also referred to as Notgeld (Emergency currency).

After the inflation in Germany was stopped by economic reform, a new currency the Rentenmark was introduced and later replaced by the Reichsmark.