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Hungary Hyperinflation Banknotes

 

1,000,000 Korona, 1923

1,000,000 Korona, 1923 front
1,000,000 Korona, 1923 back

Enlarge: Front1,000,000 Korona, 1923 front
 & Back1,000,000 Korona, 1923 back

 

1,000,000 Korona scans courtesy ybnotes.

 

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

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

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

Enlarge: Front100 Million Milpengo, (American 100 Trillion Pengo) 1946 front
 & Back100 Million Milpengo, (American 100 Trillion Pengo) 1946 back

 

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

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

Enlarge: Front10,000 B-Pengo, (American 10 Quadrillion Pengo) front
 & Back10,000 B-Pengo, (American 10 Quadrillion Pengo) back

 

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

Enlarge: Front100 Million B-Pengo, 1946 front
 & Back100 Million B-Pengo, 1946 back

 

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

Enlarge: Front1 Milliard B-Pengo, 1946 front
 & Back1 Milliard B-Pengo, 1946 back

 

Money for the Trash

money-to-sweep

Enlarge: PictureMoney for the trash

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.

 

 

 

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