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10 000 Milpengő
| Issuer | Magyar Nemzeti Bank |
|---|---|
| Year | 1946 |
| Type | Log in to see details |
| Value | 10 000 Millions Pengos (10 000 Milpengő) (10 000 000 000) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | TÍZEZER MILPENGŐ BUDAPEST, 1946. ÉVI ÁPRILIS HÓ 29-ÉN MAGYAR NEMZETI BANK FŐTANÁCSOS ELNÖK VEZÉRIGAZGATÓ A BANKJEGYHAMISÍTÁST A TÖRVÉNY BÜNTETI 10000 (Translation: Ten thousand Milpengő / Budapest, 29 April 1946 / Hungarian National Bank / Chief Counsellor / President / Director General / Counterfeiting banknotes is punishable by law) |
| Reverse description | The reverse is dominated by a large central guilloche ellipse enclosing the numeral "10000" flanked by the word "TIZEZER" on each side, set within a series of concentric decorative bands rendered in dark intaglio. The surrounding frame is composed entirely of intricate Hungarian folk-inspired ornamental motifs — stylised floral palmettes, peacock-tail scrolls, and foliate corner pieces — forming a dense symmetrical border. The denomination legend "TIZEZER MILPENGŐ" appears twice along the upper margin in a curved arrangement, with the numeral "10000" repeated in solid blocks at each corner. |
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| Comments |
Hungary's 1946 hyperinflation is the most severe on record — the monthly inflation rate peaked at 41.9 quadrillion percent in July 1946, a figure that remains unmatched. The milpengő, worth one million pengő, was itself already an admission of defeat; the 10,000 milpengő note represents ten billion pre-collapse pengő. By the time notes of this denomination were circulating, their purchasing power was evaporating within hours of issue.
Helbing and Franke were the principal artistic team behind much of the National Bank's interwar and wartime printing program, working within the Magyar Nemzeti Bank's own Budapest facilities — one of the few cases where a central bank maintained genuine in-house intaglio capability rather than contracting abroad.
The forint replaced the pengő on 1 August 1946 at a conversion rate of 400 octillion pengő to one forint.