Antique Rare Historical 100,000 German Marks 1923 - PMG Certified UNC GEM 190 mm 115 mm (7.5 in 4.5 in) Picture on the bill is by Merchant George Giese based on Der Kaufmann Georg Gisze by Hans Holbein the Younger. Georg Giese (2 April 1497 – 3 February 1562) was a prominent Hanseatic merchant, who managed his family's office at London's Steelyard for at least 12 years, and is noted for having had his portrait painted by Hans Holbein the Younger. From 1914, the value of the Mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency was stabilized in November 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1 trillion (1012) Papiermark = 1 Rentenmark. Later in 1924, the Rentenmark was replaced by the Reichsmark. In addition to the issues of the government, emergency issues of both tokens and paper money, known as Kriegsgeld (war money) and Notgeld (emergency money), were produced by local authorities. The Papiermark was also used in the Free City of Danzig until replaced by the Danzig Gulden in late 1923. Several coins and emergency issues in papiermark were issued by the free city. [Wikipedia] If you buy more than one then you will get sequential numbers. We have 5 bills in stock and all the five bills are in sequential number from the same bundle. If you buy one bill then you will get bill with different serial number but same PMG grade.