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10 000 000 Adópengő Tax note
| Issuer | Magyar Királyi Postatakarékpénztár (Royal Hungarian Postal Savings Bank) |
|---|---|
| Year | 1946 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse bears an octagonal or rectangular official stamp inscribed M. KIR. POSTATAKARÉKPÉNZTÁR (Royal Hungarian Postal Savings Bank), applied over the face of the note. The central text identifies the instrument as an interestless cash ticket for ten million tax Pengő, rendered in letterpress. The layout is plain and utilitarian, consistent with the emergency fiscal instruments issued during Hungary's hyperinflationary period of 1946. |
|---|---|
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| Reverse description | The reverse is divided into two sections: the left portion contains ruled lines for recording the cancellation date (Felmondás kelte) and payment date (Kifizetés kelte), along with a receipt line for the amount paid in adópengő and a signature line (aláírás), and bears a circular postal savings bank stamp dated 1946. The right portion presents four numbered paragraphs of printed conditions of use in Hungarian, citing relevant government decrees including 12.430/1945 M.E. and 950/1946 IV., and is concluded by the issuer's name Magyar Postatakarékpénztár in bold letterpress at the lower right. |
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| Comments |
The adópengő was introduced in January 1946 as an indexed unit tied to a price index, a desperate attempt to give Hungarian state finances a functional accounting tool while the regular pengő dissolved into hyperinflation — the worst episode of hyperinflation ever recorded. By the time this ten-million adópengő denomination was needed, the ratio between the adópengő and the ordinary pengő had become almost meaningless to express in practical terms.
The Magyar Királyi Postatakarékpénztár, the postal savings institution rather than the central bank, served as the issuing authority for the adópengő tax notes — an arrangement reflecting how thoroughly normal banking infrastructure had broken down by mid-1946.
The entire adópengő system was retired when the forint was introduced on 1 August 1946.