This Zehn Milliarden/Hunderttausend Mark Gutschein, or ten billion/one hundred thousand Mark voucher, was issued by E. Merck. Zehn Milliarden was printed over the original Hunderttausend Mark voucher due to rampant hyperinflation. The frontside of the company scrip includes the company seal with the backside featuring the E. Merck logo depicting a flame beneath a vessel. Paper features a watermark design.
E. Merck is the world's largest operating chemical and pharmaceutical company with its roots dating back to the seventeenth century in Germany.
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.
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“E. Merck Zehn Milliarden/Hunderttausend Mark Gutschein.” Darmstadt, Germany: E. Merck (Firm), August 14, 1923. Robert J. Bauman collection. Science History Institute. Philadelphia. https://digital.sciencehistory.org/works/9593tv99z.
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