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Truly a great example of this emergency money or notgeld banknote. The intricate design work is just superb. A wonderful historically rich based design. Please see the “History” tab for more on this.

The note itself has a small light fold on the lower left corner of reverse and a small stain on the left hand side. Apart from this the banknote is near perfect. 

Colors are bright and fresh and the feel of the paper is sound. It does not have the limp paper feel that results from over handling.

If you’re looking to add a great note for a winning price then this is a great start.

Additional information



Bayerische Notenbank Emergency Money / Bavarian Note Issuing Bank
Issued on: 01 March 1923
Value: 20.000 Mark
Size: 175 x 98 mm
catalogue: Ro.BAY7
Grade: Extra Fine+


The coat of arms displayed on the reverse of this banknote was the old coat of arms from 1923. It was designed by Otto Hupp.

At the top we see the “People’s Crown” which was adopted after the fall of popularity for royalty in the region. It is a ring surmounted with five ornamental leaves.

The golden lion in the black field in the upper right was originally the symbol of Count Palatine of the Rhine. It was for centuries the symbol of Old Bavaria.

The lower right shows the three silver peaked red teeth. This is known as the, “Frankonian Rake”. It first appeared around 1350 in crests for the Bishopric of Würzburg. Today it is a symbol for the administrative districts of Upper, Middle and Lower Franconia.

To the lower left we see three black leopards which are the old coat of arms of the Hohenstaufen or the former Dukes of Swabia. Today they represent the administrative district of Swabia.

The blue and white checks in the upper left was formerly the coat of arms of the Counts of Bogen from 1242. the oldest recorded example of this comes from Ludwig II in 1247. These blue and white checks or lozenges are in the modern day considered to be the official Bavarian emblem.

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