5 Marks

The Polska Krajowa Kasa Pożyczkowa was itself a transitional institution — created under German occupation in 1916 to issue a currency distinct from both the Russian ruble and the German mark, it continued operating into early Polish independence simply because there was nothing yet to replace it. These 1919 notes circulated alongside a chaotic mix of occupation scrip and improvised local emissions during the period when Poland was simultaneously fighting border wars on multiple fronts and attempting to build a functioning treasury from scratch.

The marka polska issued through this bank was eventually replaced by the złoty in 1924, at a rate of 1,800,000 marek to one złoty — a ratio that tells you everything about the inflation those years produced.