banknotes

earth

invisible

invisible

invisible

invisible

invisible

invisible

invisible

invisible

invisible

invisible

Hungary Hyperinflation Banknotes

invisible

1,000,000 Korona, 1923

1,000,000 Korona, 1923 front

Front

1,000,000 Korona, 1923 back

Back

This note is not in my collection. Scans courtesy of Vaido Lillemaa.

invisible

100 Million Milpengo, (American 100 Trillion Pengo) 1946
(100,000,000,000,000 Pengo)

100 Million Milpengo, (American 100 Trillion Pengo) 1946 front

Front

100 Million Milpengo, (American 100 Trillion Pengo) 1946 back

Back

invisible

10,000 B-Pengo, (American 10 Quadrillion Pengo) 1946
(10,000,000,000,000,000 Pengo)

10,000 B-Pengo, (American 10 Quadrillion Pengo) 1946 front

Front

10,000 B-Pengo, (American 10 Quadrillion Pengo) 1946 back

Back

invisible

100 Million B-Pengo, (American 100 Quintillion Pengo) 1946
(100,000,000,000,000,000,000 Pengo)
World's highest denomination ever issued

100 Million B-Pengo, (American 100 Quintillion Pengo) 1946 front

Front
Enlarge

100 Million B-Pengo, (American 100 Quintillion Pengo) 1946 back

Back
Enlarge

invisible

1 Milliard B-Pengo, (American 1 Sextillion Pengo) 1946
(1,000,000,000,000,000,000,000 Pengo
World's highest denomination ever printed (not issued)

1 Milliard B-Pengo, (American 1 Sextillion Pengo) 1946 front

Front
Enlarge

1 Milliard B-Pengo, (American 1 Sextillion Pengo) 1946 back

Back
Enlarge

invisible

Money for the Trash

money-to-sweep
Hungary 1946 - Banknotes were so worthless that they were discarded like trash.

Back to Hyperinflation Banknotes

Hungary was hit by the same post-WWI hyperinflation that was rampaging in neighboring Austria and Germany. Before 1920, the highest denomination was 10,000 Korona. By 1923, it was 1,000,000 Korona. In the 1925 currency reform, 1 Pengo was exchanged for 12,500 Korona.

Hungary again suffered the worst inflation in modern history immediately after WWII. Before 1945, the highest denomination was 1,000 Pengo. By mid-1946, the highest denomination in circulation was 100 Million B-Pengo (100,000,000,000,000,000,000 Pengo).

Adopengo (tax pengo) was introduced between January and July 1946. Initially, it was used for tax and postal payments, but later was also used concurrent with Pengo for general circulation. The value of the adopengo was adjusted each day, by radio announcement. On January 1, 1946 one adopengo equaled one pengo. By late July, one adopengo equaled 2,000,000,000,000,000,000,000 Pengo. The highest denomination issued was 100,000,000 Adopengo.

In the mid-1946 currency reform, 1 Forint was exchanged for 400,000,000,000,000,000,000,000,000,000 Pengo. Forint is now pegged to Euro.

invisible

invisible

Top of Page

invisible

Valid HTML 4.01! star Explanation of Level Triple-A Conformance star Valid CSS!

star Home | Overview | Trivia | Top 20 | Links star
star My Store | Country | Site Map | About Me | Awards star
star Legalese | Sign Guestbook | View Guestbook | Contact Me star

This site best viewed at display resolution 1024 x 768 or higher
Copyright © 2010 Tom Chao ~ All Rights Reserved