World Banknote Collection Hungary Hyperinflation Banknotes 1,000,000 Korona, 1923

Enlarge: Front
 & Back Courtesy ybnotes. 100 Million Milpengo, (American 100 Trillion Pengo) 1946
(100,000,000,000,000 Pengo)
Enlarge: Front
 & Back 10,000 B-Pengo, (American 10 Quadrillion Pengo) 1946
(10,000,000,000,000,000 Pengo)
Enlarge: Front
 & Back 100 Million B-Pengo, (American 100 Quintillion Pengo) 1946
(100,000,000,000,000,000,000 Pengo)
World’s highest denomination ever issued
Enlarge: Front
 & 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)
Enlarge: Front
 & Back Money for the Trash
Enlarge: Picture
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. Top of Page This site best viewed at display resolution 1024 x 768 or higher
Copyright � 2015 Tom Chao ~ All Rights Reserved
             Hungary Hyperinflation Banknotes 1,000,000 Korona, 1923
Enlarge: Front
 & Back 
Courtesy ybnotes.
 100 Million Milpengo, (American 100 Trillion Pengo) 1946
(100,000,000,000,000 Pengo)
Enlarge: Front
 & Back 10,000 B-Pengo, (American 10 Quadrillion Pengo) 1946
(10,000,000,000,000,000 Pengo)
Enlarge: Front
 & Back 100 Million B-Pengo, (American 100 Quintillion Pengo) 1946
(100,000,000,000,000,000,000 Pengo)
World’s highest denomination ever issued
Enlarge: Front
 & 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)
Enlarge: Front
 & Back Money for the Trash
Enlarge: Picture
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.
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.     This site best viewed at display resolution 1024 x 768 or higher
Copyright � 2015 Tom Chao ~ All Rights Reserved