Source: Reichsbanknote, 10,000 (Zehntausend) Marks, 1922
This is an example of a light and shade watermark. The image consists of the number 10000, the letter "M", and a five-point star. The three elements are presented, alternately, in light and in shade, meaning that in one grouping the watermark is thinner than the surrounding paper (resulting in a 'white' watermark when viewed), while in the next grouping it is thicker than the surrounding paper (resulting in a 'black' watermark when viewed).
Additional Book Information
Reichsbanknote, 10,000 (Zehntausend) Marks, #A7144538, issued 19 January 1922. The original banknote measures 4-7/8" x 8-1/4" (124mm x 209mm).