Catalog
1 Korona
| Issuer | Hungarian Royal Ministry of Finance |
|---|---|
| Year | 1920 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 1 KORONA |
| Reverse description | Circular reverse in green guilloche, with the Hungarian crowned arms — a quartered shield bearing the Árpád stripes and the apostolic double cross on a mount — placed at centre within successive rings of intricate lacework. Numerals appear at intervals around the outer guilloche border. |
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| Comments |
Hungary's post-WWI situation meant the new republic — and then the kingdom under Horthy — inherited a currency system in freefall. This 1 Korona was issued by the Hungarian Royal Ministry of Finance rather than a central bank, a direct consequence of the disruption to Austro-Hungarian financial institutions following the dissolution of the empire. The Ministry issued small-denomination notes as an emergency stopgap while the banking apparatus was reorganized.
The korona itself was already losing value rapidly by 1920, and within a few years the entire denomination structure would be swept away by hyperinflation, replaced eventually by the pengő in 1927.