{"product_id":"hungary-p-119b-10000-pengo-1945-vfxf-very-fine-extra-fine-stamp-brown-on-green","title":"Hungary P119b 10000 Pengő 1945 VF+ Very Fine Plus—Stamp: Brown on Green","description":"\u003cp\u003e\u003cem\u003eIssued the same day as the 1,000 Pengő — but ten times the denomination, and stamped by government order, forcing every holder to walk into a bank and pay three times its face value just to keep it legal.\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\n\u003cul\u003e\n\u003cli\u003eP-119a — without adhesive stamp\u003c\/li\u003e\n\u003cli\u003eP-119b — with brown\/green adhesive stamp (this note)\u003c\/li\u003e\n\u003cli\u003eP-119c — with blue adhesive stamp\u003c\/li\u003e\n\u003c\/ul\u003e\n\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 168 × 82 mm (6.61 × 3.23 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 15 July 1945\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSignatures:\u003c\/strong\u003e Zsigmond Thaly (Főtanácsos), Imre Oltványi \u0026amp; Lajos Faragó (Vezérigazgató)\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-119\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\/Provisional_National_Government_of_Hungary\" target=\"_blank\"\u003eHungary\u003c\/a\u003e — \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Provisional_National_Government_of_Hungary\" target=\"_blank\"\u003eProvisional Government\u003c\/a\u003e (1944–1945)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3\u003eFront (Obverse)\u003c\/h3\u003e\n\u003cp\u003eThe front is richer and more saturated than the 1,000 Pengő — a yellow-to-orange-to-green horizontal wash underlies the entire surface, overlaid with dense black \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Intaglio_printing\" target=\"_blank\"\u003eintaglio\u003c\/a\u003e engraving. The ornamental density is noticeably higher: less negative space, heavier scrollwork, a near textile-like visual weight. Engraved by Franke Rupert, designed by Helbing Ferenc.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003ePortrait medallion (right):\u003c\/strong\u003e Female profile facing left in classical Hungarian attire, hair gathered with subtle ornamentation; set in an oval \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Guilloch%C3%A9\" target=\"_blank\"\u003eguilloché\u003c\/a\u003e frame with concentric engraved borders and bead-and-scroll detailing\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCoat of arms (below portrait):\u003c\/strong\u003e The \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Coat_of_arms_of_Hungary\" target=\"_blank\"\u003eHungarian coat of arms\u003c\/a\u003e — Árpád stripes and double cross on triple hill, crowned, surrounded by a stylized vegetal wreath and ribbon base\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCentral denomination cartouche:\u003c\/strong\u003e Large oval bearing \u003cem\u003eTÍZEZER PENGŐ\u003c\/em\u003e in bold serif\n\u003cul\u003e\n\u003cli\u003eInner field: fine guilloché lattice with micro-dot infill\u003c\/li\u003e\n\u003cli\u003eOuter frame: dense baroque scrollwork with layered \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Acanthus_(ornament)\" target=\"_blank\"\u003eacanthus\u003c\/a\u003e leaves\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eTop denomination panel:\u003c\/strong\u003e Horizontal cartouche centered at top with “10000” in thick shaded serif numerals, flanked by mirrored foliate ornaments\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eIssuing authority block:\u003c\/strong\u003e \u003cem\u003eBudapest, 1945. évi július hó 15-én\u003c\/em\u003e; \u003cem\u003eMAGYAR NEMZETI BANK\u003c\/em\u003e in bold serif below, forming the central textual anchor\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSignature panel:\u003c\/strong\u003e Two engraved signatures (Főtanácsos and Vezérigazgató), integrated within the central oval without breaking ornament continuity\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eAnti-counterfeiting text:\u003c\/strong\u003e \u003cem\u003eA bankjegyhamisítást a törvény bünteti\u003c\/em\u003e (“Counterfeiting banknotes is punishable by law”), set within a curved ornamental ribbon at bottom, framed by scrolls and leaf flourishes\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCorner ornaments:\u003c\/strong\u003e Large floral rosettes and spiral volutes in all corners; interlocking vines and leaf clusters extending inward in bilateral symmetry\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eStamp (P-119b):\u003c\/strong\u003e Adhesive stamp with serrated edges affixed over the upper portrait medallion, deliberately interrupting the engraved design\n\u003cul\u003e\n\u003cli\u003eDesign: crowned MNB emblem on a starburst\/rosette field, printed in darker contrasting ink\u003c\/li\u003e\n\u003cli\u003ePurpose: emergency revalidation — marks the note as officially reauthorized for circulation; unstamped notes were cut to one-quarter face value\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3\u003eBack (Reverse)\u003c\/h3\u003e\n\u003cp\u003eThe reverse carries the same yellow-green gradient ground as the front, with the ornamental system fully symmetrical around a central vertical axis.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eCentral denomination medallion:\u003c\/strong\u003e Oval with “10000” at center; \u003cem\u003eTÍZEZER\u003c\/em\u003e flanking on both sides; dense guilloché core with layered border rings; heart-like motif at top center anchoring the symmetry\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCorner denomination panels:\u003c\/strong\u003e Four oval\/capsule-shaped elements, each containing a stylized “10000” in linear bars, embedded within heavy ornamental frames\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eMultilingual denomination inscriptions:\u003c\/strong\u003e Arching across the upper field in six languages — \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 Latin and Cyrillic alphabets — a quiet record of the multi-ethnic world Hungary once ruled\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSerial numbers:\u003c\/strong\u003e Printed in red — prefix + number at left, full serial at right; clean non-ornamental type for contrast against the dense field\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eOrnamental field:\u003c\/strong\u003e Central elongated oval flanked by symmetrical scroll systems; layered volutes, tendrils, and leaf clusters throughout\n\u003cul\u003e\n\u003cli\u003eRosette and floral guilloché medallions integrated into scrollwork rather than isolated\u003c\/li\u003e\n\u003cli\u003eContinuous border with alternating thick scrolls and fine filigree, densest at corners\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3\u003eDesign Summary\u003c\/h3\u003e\n\u003cp\u003eThis note belongs to a tradition of \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Security_printing\" target=\"_blank\"\u003esecurity printing\u003c\/a\u003e rooted in late 19th-century historicist engraving — the same visual language as the great Austro-Hungarian banknotes, now under postwar austerity. But compared to the 1,000 Pengő, the 10,000 is a step up in every dimension.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eStyle:\u003c\/strong\u003e Late historicist \/ neo-baroque engraving adapted for security printing\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSecurity approach:\u003c\/strong\u003e High-density \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Guilloch%C3%A9\" target=\"_blank\"\u003eguilloché\u003c\/a\u003e; complex radial \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Rosette_(design)\" target=\"_blank\"\u003erosettes\u003c\/a\u003e; micro-repeating background pattern; layered line-thickness variation simulating intaglio depth\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003evs. 1,000 Pengő:\u003c\/strong\u003e Multi-tone color gradient (yellow→orange→green) replaces flat pink; denser scrollwork with less negative space; larger and more repeated denomination cues; same stamp revalidation logic, equally intrusive by design\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eVisual hierarchy:\u003c\/strong\u003e Denomination dominates — portrait humanizes — ornament saturates every remaining surface\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 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 — with \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Bratislava\" target=\"_blank\"\u003ePozsony (Bratislava)\u003c\/a\u003e serving as the capital and coronation city\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; \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Bratislava\" target=\"_blank\"\u003ePozsony\u003c\/a\u003e remained the capital until 1848, when Budapest took over; Hungary subject to Vienna throughout\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:\n\u003cul\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Transylvania\" target=\"_blank\"\u003eTransylvania\u003c\/a\u003e to Romania\u003c\/li\u003e\n\u003cli\u003e\n\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\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Vojvodina\" target=\"_blank\"\u003eVojvodina\u003c\/a\u003e to Yugoslavia\u003c\/li\u003e\n\u003cli\u003e\n\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\u003c\/li\u003e\n\u003cli\u003e\n\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\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\/Provisional_National_Government_of_Hungary\" target=\"_blank\"\u003eProvisional Government\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–present) — member of \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/NATO\" target=\"_blank\"\u003eNATO\u003c\/a\u003e (1999–present) and the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/European_Union_accession_of_Hungary\" target=\"_blank\"\u003eEuropean Union\u003c\/a\u003e (2004–present)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch2\u003eThe stamp that split this note into three versions\u003c\/h2\u003e\n\u003cp\u003eIn December 1945, the provisional government attempted a one-off capital levy to slow inflation. \u003cstrong\u003eHolders had to walk into a bank, hand over three times the note’s face value in cash, and receive an adhesive stamp in return — proof that the note was still legal tender.\u003c\/strong\u003e Skip the queue, lose the money: unstamped notes were immediately reduced to one-quarter of their nominal worth. The 10,000 Pengő came in three stamp variants — none, brown\/green, or blue — making it one of the more collectible entries in the inflation series. It failed to stop the inflation.\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. \u003cstrong\u003eBy July 1945, when this note was issued, the collapse was well underway.\u003c\/strong\u003e Within a year, Hungary experienced the worst hyperinflation in recorded human history — prices doubling every 15 hours by July 1946. Denominations climbed from thousands to millions to billions, eventually requiring entirely new naming conventions: the milpengő (million Pengő) and the b.-pengő (billion Pengő). 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. 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\u003eA Posthumous Ode to the Pengő, by World Money Store\u003c\/h2\u003e\n\u003cp\u003e\u003cem\u003eRead in the meter of \"\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/A_Visit_from_St._Nicholas\" target=\"_blank\"\u003e'Twas the Night Before Christmas…\"\u003c\/a\u003e\u003c\/em\u003e\u003c\/p\u003e\n\u003cp\u003eSo, the printing press for the Hungarian pengő,\u003cbr\u003eWent crazy, but why? Had it learned the flamenco?\u003cbr\u003eNo! Government, weak, had to pay for its spending,\u003cbr\u003eSo prices went higher; it was never ending.\u003c\/p\u003e\n\u003cp\u003eMore pengős in money supply caused such trouble,\u003cbr\u003eThat merchants were constantly marking tags double;\u003cbr\u003eThe workers got salaries paid in the morning,\u003cbr\u003eAnd spent them by noontime, since prices were soaring.\u003c\/p\u003e\n\u003cp\u003eA note marked ten thousand for onions and bread,\u003cbr\u003eThen one hundred thousand, then millions it said.\u003cbr\u003eTen milpengő meant it was valued ten million,\u003cbr\u003eA b-pengő meant it’s already a trillion.\u003c\/p\u003e\n\u003cp\u003eThe last of them seen said one hundred quintillion,\u003cbr\u003eBut one they held back was a stunning sextillion!\u003cbr\u003eThey had to replace the poor pengő with forint,\u003cbr\u003eTo close this book’s chapter: “Inflation Abhorrent”\u003c\/p\u003e\n\u003ch2\u003eOwn this note from the opening of the collapse\u003c\/h2\u003e\n\u003cp\u003eThe 10,000 Pengő was an enormous denomination in peacetime. By the time this note was printed, it was already becoming ordinary. \u003cstrong\u003eIt is a document of the moment Hungary crossed the threshold from postwar hardship into economic catastrophe — stamped, validated, and still doomed.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003eThe woman on the note looks serene. The economy was not.\u003c\/em\u003e\u003c\/p\u003e","brand":"World Money Store","offers":[{"title":"Default Title","offer_id":51881173582135,"sku":"HU119bVFXF","price":2.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0969\/7165\/3431\/files\/119bo.jpg?v=1775331141","url":"https:\/\/worldmoneystore.com\/products\/hungary-p-119b-10000-pengo-1945-vfxf-very-fine-extra-fine-stamp-brown-on-green","provider":"World Money Store","version":"1.0","type":"link"}