Original 1923 German 3 Million Mark Note Hoesch Steel Works Hyperinflation Gutschein Currency

Offered here is an original 1923 German Three Million Mark Gutschein (voucher/emergency money) issued by the Eisen- und Stahlwerk Hoesch A.-G. in Dortmund, specifically its Limburger Fabrik- und Hüttenverein division at Hohenlimburg.

This impressive piece dates directly from the German hyperinflation crisis of 1923, when the rapidly collapsing value of the Mark forced companies, municipalities and other organizations to issue their own temporary currency and payment vouchers.

The note has a very large face value of:

DREI MILLIONEN MARK – THREE MILLION MARK

It is numbered Gutschein 3541 and dated:

Hohenlimburg, 30. Aug. 1923

The printed text states that the voucher was valid until September 30, 1923 and could be redeemed without charge at the Barmer Bank-Verein in Hohenlimburg.

The issuing organization is prominently identified as:

Eisen- und Stahlwerk Hoesch Aktiengesellschaft in Dortmund
Abt.: Limburger Fabrik- u. Hüttenverein

The left side features a large period portrait, while the bottom carries printed/facsimile authorization signatures. The decorative border and brown printing give the piece a particularly attractive early-1920s industrial currency appearance.

Hoesch was one of the important names in Germany’s heavy industrial and steel sector, making this an interesting piece not only of Notgeld and hyperinflation history, but also of German steel and Ruhr-area industrial history.

Historical Significance

August 1923 was one of the most dramatic periods of Germany’s post-WWI inflation. The denomination of 3,000,000 Marks illustrates how rapidly currency values were escalating: amounts that would have represented enormous fortunes only a few years earlier had become necessary for ordinary commercial transactions.

Unlike conventional government currency, this was a company-issued Gutschein, making it particularly interesting to collectors of Firmen-Notgeld, industrial emergency money and German hyperinflation currency.

Size & Condition

Measures approximately 6½ inches wide.

The note is currently sealed/protected inside a clear plastic sleeve exactly as shown. The reverse is blank. The note presents very nicely with light age toning and minor expected period wear. It will be supplied sealed in the plastic as photographed. Please examine all photographs carefully for exact condition and size.

A very attractive and substantial 3 Million Mark denomination from one of Germany’s major industrial concerns and a great representative artifact from the extraordinary hyperinflation of 1923.

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