This Fünf Millionen Mark Gutschein, or five million Mark voucher, was issued by Friedrich Bayer & Company. Design includes a cartouche containing a winged lion with caduceus and globe as well as the Bayer logo. By the end of August 1923, inflation was so high that billion Mark notes were issued by printing over the August 1st note.
The Friedrich Bayer & Company initially manufactured synthetic dyes before expanding their industry to include pharmaceuticals, notably Aspirin, as well as other products including polycarbonates and polyurethanes.
This German company scrip is an example of the hyperinflation which occurred in Germany after World War One as a result of reparation costs. Due to the devaluation of the Mark, companies began issuing their own currency that employees could use within their company stores. The high value of this currency is indicative of the hyperinflation of the Mark whose value decreased drastically from early 1923 through November 1923.
“Friedrich Bayer & Company One Milliarde/Fünfhunderttausend Mark Gutschein.” Leverkusen, Germany: Friedrich Bayer & Co., August 1, 1923. Robert J. Bauman collection. Science History Institute. Philadelphia. https://digital.sciencehistory.org/works/2v23vv368.
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