German banknotes: January to August 1922

1922 began with the issue of a 10,000-mark banknote. According to the original description, 10,000 marks in January 1922 were equivalent to 50 present-day euros.

A new 500-mark note was issued in March 1922 and had a value equivalent to 1.70 euros.

Because 500-mark notes were too expensive to print relative to their value, in July 1922 they were replaced by notes that were easier and therefore cheaper to print, although the same type of paper was used.

By July 1922 the value of a 500-mark banknote had fallen to 1 euro.