'paper mark', officially just Mark, sign: ℳ︁) was the German currency from 4 August 1914[1] when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I.

[4] The rate of inflation rose following the end of World War I and reached its highest point in October 1923.

[7] During the war, cheaper metals were introduced for coins, including aluminium, zinc and iron, although silver 1⁄2ℳ︁ pieces continued in production until 1919.

During this period, many provinces and cities also had their own corresponding coin and note issues, referred to as Notgeld currency.

This came about often due to a shortage of exchangeable tender in one region or another during the war and hyperinflation periods.

[6] Some of the most memorable of these to be issued during this period came from Westphalia and featured the highest face value denominations on a coin ever, eventually reaching 1-billion-ℳ︁.

[16] Between 1914 and the end of 1923 the Papiermark's rate of exchange against the U.S. dollar plummeted from 4.2ℳ︁ = US$1 to 4.2-trillionℳ︁ = US$1.

[18] In October 1923, Germany experienced a 29,500% hyperinflation (roughly 21% interest per day).

[21] During the hyperinflation, ever higher denominations of banknotes were issued by the Reichsbank[22] and other institutions (notably the Reichsbahn railway company).

[46] The 1923 provisional issue reused earlier notes with a large red stamp indicating the new (and higher) denominations of 1 million-ℳ︁ (8 August 1923) and 5 million-ℳ︁ (15 October 1923) mark.