{"product_id":"hungary-p-111-100-pengo-1945-vfxf-very-extra-fine-stunning-parliament-copy","title":"Hungary P111 100 Pengō 1945 VF+ Very Fine Plus—Stunning Parliament","description":"\u003cp\u003e\u003cem\u003eIssued under a regent who was neither king nor president, featuring a king who died 440 years before the note was printed — and a parliament building that was the largest in the world when it opened.\u003c\/em\u003e\u003c\/p\u003e\n\u003ch3\u003eBanknote Characteristics\u003c\/h3\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eVarieties:\u003c\/strong\u003e Single variety (P-111); arrow cross stamps are falsifications\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eColor:\u003c\/strong\u003e Brown tones\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eFront:\u003c\/strong\u003e Portrait of \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Matthias_Corvinus\" target=\"_blank\"\u003eMatthias Corvinus\u003c\/a\u003e (King of Hungary and Croatia, 1458–1490); engraved by Franke Rupert; designed by Álmos Jaschik\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eBack:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_Parliament_Building\" target=\"_blank\"\u003eHungarian Parliament Building\u003c\/a\u003e, Budapest; denomination inscribed in \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_language\" target=\"_blank\"\u003eHungarian\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/German_language\" target=\"_blank\"\u003eGerman\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Slovak_language\" target=\"_blank\"\u003eSlovak\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Romanian_language\" target=\"_blank\"\u003eRomanian\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Rusyn_language\" target=\"_blank\"\u003eRuthenian (Ukrainian)\u003c\/a\u003e, and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Serbo-Croatian\" target=\"_blank\"\u003eSerbo-Croatian\u003c\/a\u003e in both alphabets (Latin and Cyrillic)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eComposition:\u003c\/strong\u003e Paper\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSize:\u003c\/strong\u003e 177 × 93 mm (6.97 × 3.66 in)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eIssuing entity:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_National_Bank\" target=\"_blank\"\u003eMagyar Nemzeti Bank\u003c\/a\u003e (Hungarian National Bank)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eIssued:\u003c\/strong\u003e 1945\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSignatures:\u003c\/strong\u003e Végh, Sándor Popovics, Béla Schober\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Demonetization_(currency)\" target=\"_blank\"\u003eDemonetized\u003c\/a\u003e:\u003c\/strong\u003e 6 May 1946\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eReferences:\u003c\/strong\u003e P-111\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCurrency:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_peng%C5%91\" target=\"_blank\"\u003ePengő\u003c\/a\u003e (1927–1946)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCountry:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Kingdom_of_Hungary_(1920%E2%80%931946)\" target=\"_blank\"\u003eHungary\u003c\/a\u003e — Regency of \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Mikl%C3%B3s_Horthy\" target=\"_blank\"\u003eMiklós Horthy\u003c\/a\u003e (1920–1944)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3\u003eAbout Hungary\u003c\/h3\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eCapital:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Budapest\" target=\"_blank\"\u003eBudapest\u003c\/a\u003e (city ~1.7 million; metro ~3.3 million)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003ePopulation:\u003c\/strong\u003e ~9.7 million (UN 2023) — similar to North Carolina or Michigan\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eArea:\u003c\/strong\u003e 93,028 km² (35,918 mi²) — similar to Indiana or Portugal\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eGDP per capita at \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Purchasing_power_parity\" target=\"_blank\"\u003ePPP\u003c\/a\u003e:\u003c\/strong\u003e ~$43,000 USD (IMF 2024) — ranks ~45th out of 193 globally\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eMain exports:\u003c\/strong\u003e Vehicles, machinery, electronics, pharmaceuticals\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eBorders (current):\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Austria\" target=\"_blank\"\u003eAustria\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Slovakia\" target=\"_blank\"\u003eSlovakia\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Ukraine\" target=\"_blank\"\u003eUkraine\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Romania\" target=\"_blank\"\u003eRomania\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Serbia\" target=\"_blank\"\u003eSerbia\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Croatia\" target=\"_blank\"\u003eCroatia\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Slovenia\" target=\"_blank\"\u003eSlovenia\u003c\/a\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eOfficial\/spoken language:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_language\" target=\"_blank\"\u003eHungarian\u003c\/a\u003e (~100%) — a \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Uralic_languages\" target=\"_blank\"\u003eUralic language\u003c\/a\u003e unrelated to any of its neighbors\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSovereignty:\u003c\/strong\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Pannonia\" target=\"_blank\"\u003ePannonia\u003c\/a\u003e — Roman province (1st century AD–433); before Rome, home to \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Celts\" target=\"_blank\"\u003eCeltic\u003c\/a\u003e and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Illyrians\" target=\"_blank\"\u003eIllyrian\u003c\/a\u003e tribes\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Huns\" target=\"_blank\"\u003eHunnic Empire\u003c\/a\u003e (433–469) — Huns arrived from the Eurasian steppe (Central Asia) under \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Attila\" target=\"_blank\"\u003eAttila\u003c\/a\u003e; empire collapsed after his death\u003c\/li\u003e\n\u003cli\u003eGermanic and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Avars\" target=\"_blank\"\u003eAvar\u003c\/a\u003e kingdoms (469–895)\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_conquest_of_the_Carpathian_Basin\" target=\"_blank\"\u003eMagyar conquest\u003c\/a\u003e (895) — \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Magyars\" target=\"_blank\"\u003eMagyars\u003c\/a\u003e from the Ural region, arrived under \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Arpad\" target=\"_blank\"\u003eÁrpád\u003c\/a\u003e, displacing\/absorbing Slavs\/Avars\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Kingdom_of_Hungary\" target=\"_blank\"\u003eKingdom of Hungary\u003c\/a\u003e (1000–1526) — founded by \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Stephen_I_of_Hungary\" target=\"_blank\"\u003eStephen I\u003c\/a\u003e, ruling \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Transylvania\" target=\"_blank\"\u003eTransylvania\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Kingdom_of_Croatia_(medieval)\" target=\"_blank\"\u003eCroatia and Dalmatia\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Upper_Hungary\" target=\"_blank\"\u003eSlovakia\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Subcarpathian_Ruthenia\" target=\"_blank\"\u003eTranscarpathia\u003c\/a\u003e, and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Vojvodina\" target=\"_blank\"\u003eVojvodina\u003c\/a\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Battle_of_Moh%C3%A1cs\" target=\"_blank\"\u003eBattle of Mohács\u003c\/a\u003e (1526) — Ottoman victory; Hungary split into: \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Ottoman_Hungary\" target=\"_blank\"\u003eOttoman-occupied central Hungary\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Principality_of_Transylvania\" target=\"_blank\"\u003esemi-autonomous Transylvania\u003c\/a\u003e, and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Royal_Hungary\" target=\"_blank\"\u003eRoyal Hungary\u003c\/a\u003e (most = today’s Slovakia) under the Habsburgs\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Habsburg_Hungary\" target=\"_blank\"\u003eHabsburg rule\u003c\/a\u003e (1526–1867) — Ottomans expelled by 1699; Hungary subject to Vienna\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Austria-Hungary\" target=\"_blank\"\u003eAustro-Hungarian Dual Monarchy\u003c\/a\u003e (1867–1918) — Hungary co-equal partner with Austria, ruling a vast multi-ethnic empire\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Kingdom_of_Hungary_(1920%E2%80%931946)\" target=\"_blank\"\u003eHorthy Regency\u003c\/a\u003e (1920–1944)\n\u003cul\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Treaty_of_Trianon\" target=\"_blank\"\u003eTreaty of Trianon\u003c\/a\u003e (1920) — Hungary lost ~72% of its territory and ~64% of its population: \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Transylvania\" target=\"_blank\"\u003eTransylvania\u003c\/a\u003e to Romania; \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Slovakia\" target=\"_blank\"\u003eSlovakia\u003c\/a\u003e and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Subcarpathian_Ruthenia\" target=\"_blank\"\u003eTranscarpathia\u003c\/a\u003e to Czechoslovakia; \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Vojvodina\" target=\"_blank\"\u003eVojvodina\u003c\/a\u003e to Yugoslavia; \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Kingdom_of_Croatia-Slavonia\" target=\"_blank\"\u003eCroatia-Slavonia\u003c\/a\u003e and \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Kingdom_of_Dalmatia\" target=\"_blank\"\u003eDalmatia\u003c\/a\u003e to Yugoslavia and Italy; \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Burgenland\" target=\"_blank\"\u003eBurgenland\u003c\/a\u003e to Austria\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Arrow_Cross_Party\" target=\"_blank\"\u003eArrow Cross \/ German occupation\u003c\/a\u003e (1944–1945)\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/People%27s_Republic_of_Hungary\" target=\"_blank\"\u003e“People’s Republic”\u003c\/a\u003e (1949–1989) — communist dictatorship, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Soviet_satellite_state\" target=\"_blank\"\u003eSoviet satellite state\u003c\/a\u003e; USSR crushed the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_Revolution_of_1956\" target=\"_blank\"\u003e1956 uprising\u003c\/a\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungary\" target=\"_blank\"\u003eRepublic\u003c\/a\u003e (1989–date)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch2\u003eA king who made Hungary the envy of Europe\u003c\/h2\u003e\n\u003cp\u003e\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Matthias_Corvinus\" target=\"_blank\"\u003eMatthias Corvinus\u003c\/a\u003e came to the throne at 15 and ruled for 32 years, turning Hungary into the most powerful state in Central Europe. \u003cstrong\u003eHe built the first standing professional army in European history — the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Black_Army_of_Hungary\" target=\"_blank\"\u003eBlack Army\u003c\/a\u003e — conquered Moravia, Silesia, and Austria, and briefly held Vienna.\u003c\/strong\u003e He was also a Renaissance patron who filled his court with Italian humanists, built one of the finest libraries in Europe (the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Bibliotheca_Corviniana\" target=\"_blank\"\u003eBibliotheca Corviniana\u003c\/a\u003e), and corresponded with the leading scholars of his age. When he died in 1490, reportedly poisoned, his empire collapsed within years. The Ottomans arrived 36 years later.\u003c\/p\u003e\n\u003cp\u003eHe appears on this note not as a historical curiosity but as a political statement. \u003cstrong\u003eThe Horthy regime, ruling a Hungary stripped of two-thirds of its territory by the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Treaty_of_Trianon\" target=\"_blank\"\u003eTreaty of Trianon\u003c\/a\u003e, chose the king who had made Hungary great as the face of its currency.\u003c\/strong\u003e Nostalgia as monetary policy.\u003c\/p\u003e\n\u003ch2\u003eThe parliament that was built for an empire that no longer existed\u003c\/h2\u003e\n\u003cp\u003eThe \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_Parliament_Building\" target=\"_blank\"\u003eHungarian Parliament Building\u003c\/a\u003e on the reverse was completed in 1904 — the largest parliament building in the world at the time, and still one of the largest. \u003cstrong\u003eIt was designed for a Hungary that was half of the Austro-Hungarian Empire, with a population of 20 million and ambitions to match.\u003c\/strong\u003e By the time this note was issued in 1945, Hungary had 8 million people and borders drawn by its enemies. The building remained. The empire did not.\u003c\/p\u003e\n\u003ch2\u003eThe Pengő and the hyperinflation that ended it\u003c\/h2\u003e\n\u003cp\u003eThe \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_peng%C5%91\" target=\"_blank\"\u003ePengő\u003c\/a\u003e was introduced in 1927 as a stable, modern currency — and for its first decade it was. \u003cstrong\u003eThis 100 Pengő note, issued in 1945, was printed as the economy was already collapsing.\u003c\/strong\u003e Then came Soviet liberation, and the worst hyperinflation in recorded human history. By July 1946, prices were doubling every 15 hours. The largest denomination ever printed was the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Sz%C3%A1zmilli%C3%A1rd_b-peng%C5%91\" target=\"_blank\"\u003e100 quintillion Pengő\u003c\/a\u003e — a 1 followed by 20 zeros. The Pengő was demonetized on 6 May 1946 and replaced by the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Hungarian_forint\" target=\"_blank\"\u003eForint\u003c\/a\u003e at a rate of 400,000 quadrillion to one.\u003c\/p\u003e\n\u003ch2\u003eOwn this note from Hungary’s final year of the Pengő\u003c\/h2\u003e\n\u003cp\u003eThis 100 Pengő was printed in 1945 — the last full year of the war, the year Budapest was besieged and liberated, the year the Horthy regime ended. \u003cstrong\u003eIt is a note from the final months before the hyperinflation made every Pengő worthless.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003eMatthias built an empire. The Pengő became worthless. The note survived both.\u003c\/em\u003e\u003c\/p\u003e","brand":"World Money Store","offers":[{"title":"Default Title","offer_id":51870709055799,"sku":"HU111VFXF","price":2.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0969\/7165\/3431\/files\/111o_e67bb5bf-1f47-40fc-9a9d-e3735d58a7b6.jpg?v=1775259925","url":"https:\/\/worldmoneystore.com\/products\/hungary-p-111-100-pengo-1945-vfxf-very-extra-fine-stunning-parliament-copy","provider":"World Money Store","version":"1.0","type":"link"}