Smallest largest banknote?

The OP disqualified hyperinflation. Which of course is a somewhat fuzzy term.

I think in the case of e.g. Turkey, Laos, or Lebanon we could make a good case that the small current US dollar value of the largest current note is mostly down to cumulative multi-decadal major-league inflation. Whether that’s “hyper” or not is IMO unanswerable.

I suppose a better measure might be something like

When the largest current e.g. Turkish banknote was first issued, what was its value in USD? Which country has the smallest largest at initial issue?

Story time …
Back when I was in USAF working in Latin America the Ecuadorians still had their own currency, the Sucre. The ends of the 100 Sucre note looked an awful lot like the ends of the then-current US $100 note with the small centered presidential portrait on them. When the notes were printed, 100 sucres was a decent amount of money for a poor country, maybe USD 40 or so. A few of those could pay a month’s rent and a couple dozen could buy a crappy used car.

By the time I was visiting they were well-worn and worth about a US dime. I brought a small stack of them home to use as eye-catching bookmarks. The last one disappeared a few years ago.

Absolutely, they could very well be worth more to a collector.

Strictly from a legality standpoint, they could be spent is my point. The “authorities” wouldn’t be concerned with that, they would want to know “where did you get these” and naturally, that taxes were scrupulously paid on unrealized gains or whatever.