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1 000 000 Adópengő Tax note
| Issuer | Magyar Postatakarékpénztár (Royal Hungarian Postal Savings Bank) |
|---|---|
| Year | 1946 |
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| Shape | Rectangular |
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| Obverse description | The face of this letterpress-printed instrument is dominated by the principal legend declaring it a non-interest-bearing cash ticket (Nem Kamatozó Pénztárjegy) for one million Adópengő, rendered in bold typography. An octagonal or rectangular institutional validation stamp inscribed M. KIR. POSTATAKARÉKPÉNZTÁR (Royal Hungarian Postal Savings Bank) is applied over the face of the note, authenticating the issue. The overall design is typographic in character, consistent with the emergency fiscal instruments produced during Hungary's extreme hyperinflationary period of 1946. |
|---|---|
| Obverse lettering | NEM KAMATOZÓ PÉNZTÁRJEGY EGYMILLIÓ ADÓPENGŐRŐL (Translation: Interestless cash ticket for one million tax Pengő) |
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The adópengő was a fiscal accounting unit introduced in January 1946 specifically to index tax obligations and public-sector transactions against inflation — itself a measure of how completely the regular pengő had collapsed. By mid-1946, Hungarian inflation was running at rates that remain unmatched in recorded monetary history, with prices doubling roughly every fifteen hours at the peak. The adópengő was recalculated daily against the pengő using a published index, meaning a 1,000,000 adópengő note's real value changed every single day it sat unspent.
Issued by the Postal Savings Bank rather than the National Bank, placing it outside the main currency system entirely. The forint reform of 1 August 1946 extinguished both the pengő and the adópengő simultaneously.