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I would suggest that the Imperial treasury issued circulation notes for the use of the general public.

The Reichsbank issued notes for the use of banks. Bank trading houses were used to settle accounts between different banks. One bank, which I shall call the Saxony Bank, would take all the cheques from other banks which it had cashed. Since the value of these cheques would rarely match exactly, they would use large denomination notes to ease the transfer of funds from one bank to the other.

The average citizen would never see these large notes. Most people lived on incomes of less than 100 DM per annum, and would use small denomination bills and coins mostly. Don't forget that a loaf of bread probably cost 1 penny( I have forgotten the German equivalent) and a good meal at a local restaurant might cost 25 pence.

I seem to recall that the Germans also used the schilling as currency. How was it related to the Mark and the pfennig(?)? Was it similar to pounds/shillings/pence?