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1 000 000 Adópengő Tax note, 2nd edition
| Issuer | Magyar Postatakarékpénztár (Hungarian Postal Savings Bank) |
|---|---|
| Year | 1946 |
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| Composition | Paper |
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| Reverse description | Plain paper reverse printed in blue-grey with two columns of legal text under the heading TUDNIVALÓK (Conditions), outlining redemption rules, applicable government decrees, and anti-forgery warnings. The left portion contains handwritten fields for Felmondás kelte (notice date), Kifizetés kelte (payment date), and a line for the equivalent adópengő cash amount received, with a space for the issuing branch signature. A Budapest postal datestamp is applied to the upper left area. |
| Reverse lettering | TUDNIVALÓK Felmondás kelte: Kifizetés kelte: Az adópengő névértékének a kifizetés napján megfelelő összeget átvettem. Magyar Postatakarékpénztár |
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| Comments |
Hungary's postwar hyperinflation of 1945–46 remains the most severe ever recorded — the daily inflation rate peaked above 200% in July 1946, and the adópengő was introduced precisely because the ordinary pengő was collapsing too fast for tax authorities to set meaningful rates. The adópengő wasn't a currency in the usual sense; its value was indexed daily by the government, pegged to a published coefficient, so a note's real worth on Tuesday bore no relation to its worth on Thursday.
This second edition of the million adópengő reached circulation during the final weeks before the forint reform of 1 August 1946 rendered the entire adópengő series obsolete overnight. The reform rate was fixed at 200 000 000 000 000 000 000 000 000 000 adópengő to one forint.