Catalog
10 000 000 Korona
| Issuer | Magyar Királyi Postatakarékpénztár (Hungarian Royal Postal Savings Bank) |
|---|---|
| Year | 1921 |
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| Value | 10 000 000 Crowns (Koronás) (10 000 000) |
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| Obverse description | The note is framed by an ornate guilloche border with floral rosette corner pieces. At left, a rectangular vignette contains the Hungarian royal coat of arms with the value '10,000,000' above and 'TIZ MILLIÓ KORONA' below. The right panel carries the issuer's name and the denomination in large letterpress text, with the date 'Budapest, 1921. május 1.' and two manuscript signatures beneath the issuer's designation. |
|---|---|
| Obverse lettering | TIZ MILLIÓ KORONA A M. KIR. POSTATAKARÉKPÉNZTÁR BÁRKI KÍVÁNSÁGÁRA E PÉNZJEGYET ÉRTÉKBEN ÁTVÁLTJA MÁS TÖRVÉNYES PÉNZNEMEKRE. BUDAPEST, 1921. MÁJUS 1. M. KIR. POSTATAKARÉKPÉNZTÁR. E PÉNZJEGY UTÁNZÁSA A TÖRVÉNY SZERINT BÜNTETTETIK. (Translation: TEN MILLION CROWNS / The Hungarian Royal Postal Savings Bank / will exchange this note at the request of the bearer / for its value in other legal currency. / Budapest, 1 May 1921. / Hungarian Royal Postal Savings Bank. / Counterfeiting of this note is punishable by law.) |
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| Comments |
By 1923, when this note entered circulation, Hungarian hyperinflation had already rendered smaller denominations functionally worthless. The Magyar Királyi Postatakarékpénztár — the Postal Savings Bank rather than the central bank — was pressed into issuing emergency high-denomination currency because the Osztrák-Magyar Bank's successor institutions lacked the capacity to keep pace with monetary collapse. The Postal Savings Bank had issued notes since 1919, stepping into a role it was never designed to hold.
The 10,000,000 Korona denomination was among the highest the series reached before Hungary abandoned the Korona entirely, replacing it with the Pengő in 1927 at a rate of 12,500 Korona to 1 Pengő.