10 Forint

Hungary's postwar stabilization of August 1946 — the forint replacing the pengo at a rate of 1 forint to 400 octillion pengő — remains the most extreme currency conversion in recorded history, ending the worst hyperinflation ever documented. This note arrived in the first full year of forint circulation, when the new currency was still proving its stability to a deeply traumatized public.

Endre Horváth handled both design and engraving on the obverse, an unusual consolidation of roles. Zoltán Nagy's contribution to the reverse intaglio work is often overlooked — János Jankó is credited for the reverse design but did not engrave it.