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10 000 000 Adópengő Tax note
| Issuer | Magyar Postatakarékpénztár (Royal Hungarian Postal Savings Bank) |
|---|---|
| Year | 1946 |
| Type | Standard circulation banknote |
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| Obverse description | The face bears an octagonal or rectangular violet control stamp of the Magyar Postatakarékpénztár (Royal Hungarian Postal Savings Bank), applied over the note. The main inscription identifies the instrument as an interest-free cash ticket for ten million adópengő, with the denomination stated in letterpress. The layout is plain and utilitarian, consistent with the emergency fiscal issues of the Hungarian hyperinflationary period of 1946. |
|---|---|
| Obverse lettering | NEM KAMATOZÓ PÉNZTÁRJEGY TÍZMILLIÓ ADÓPENGŐRŐL (Translation: Interestless cash ticket for ten million tax Pengő) |
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| Comments |
The adópengő was a fiscal indexing unit introduced in January 1946 as Hungary's ordinary pengő collapsed under what remains the most severe hyperinflation ever recorded — peak monthly rates exceeded 4 × 10¹⁶ percent. Tax payments and government obligations were denominated in adópengő precisely because the unit was adjusted daily against a published index, insulating the state's revenues from the pengő's overnight disintegration. This note, issued by the Postal Savings Bank rather than the National Bank, reflects the institutional scramble to keep any transactional medium functional at all.
By the time 10,000,000 adópengő notes entered circulation, the indexing system itself was failing to keep pace. The forint replaced everything on 1 August 1946.