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10 Pengő

Issuer Magyar Nemzeti Bank
Year 1926
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Composition Paper
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Obverse description An intaglio portrait of Ferenc Deák, the Hungarian statesman, is set within an oval vignette at the right, rendered in fine engraving with cross-hatched shading. The centre of the note carries the issuer's title MAGYAR NEMZETI BANK in bold letterpress, above which the denomination TIZ PENGŐ appears in large display lettering, flanked by numeral 10 counters in each corner. The date BUDAPEST, 1926. ÉVI MÁRCIUS HÓ 1-ÉN is printed below the main title, with two manuscript signatures and one printed signature line identifying the ELNÖK, FŐTANÁCSOS, and VEZÉRIGAZGATÓ respectively, and the coat of arms of Hungary centred between them.
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Reverse lettering TIZ PENGŐ
TIZ PENGŐ
ZEHN PENGO
DESAT PENGO
ДЕСЕТ ПЕНГОВА
ДЕСЯТЬ ПЕНГЫВОВ
ZEGE PENGEI
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Comments

The 10 Pengő of 1926 was among the first notes issued under Hungary's new currency, introduced to replace the catastrophically inflated korona after postwar hyperinflation had rendered it worthless. The pengő, stabilized with League of Nations assistance and tied to the gold standard, represented a deliberate monetary reset — and this early series was designed to project institutional confidence accordingly.

Printed by the Magyar Állami Nyomda (Hungarian State Printing Office) in Budapest, these notes are occasionally found with ink strike inconsistencies on the watermark zones, a known quirk of the early production runs.

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