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100 000 000 Milpengő
| Issuer | Magyar Nemzeti Bank |
|---|---|
| Year | 1946 |
| Type | Log in to see details |
| Value | 100 000 000 Millions Pengos (100 000 000 Milpengő) |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
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| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
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| Obverse description | Green note with an intaglio oval vignette at right containing a bust portrait of a peasant woman in traditional Hungarian folk costume with a headscarf. The centre carries large denomination text above the issuer name and the date of issue, set against a finely guilloche-patterned underprint. Three manuscript signatures appear below the issuer name, with title inscriptions FŐTANÁCSOS, ELNÖK, and VEZÉRIGAZGATÓ, and the Hungarian coat of arms is positioned at lower centre within an ornate engraved border. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | SZÁZMILLIÓ MILPENGŐ • SZÁZMILLIÓ MILPENGŐ SZÁZ MILLIŐ (Translation: One Hundred Million Milpengő) |
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| Comments |
The 100,000,000 milpengő denomination requires some unpacking. By mid-1946, Hungary's postwar hyperinflation had become the worst ever recorded in history — peak monthly inflation reached 41.9 quadrillion percent in July 1946. The milpengő (one million pengő) and later the b.-pengő (one billion pengő) were stopgap accounting units introduced simply to keep the number of zeros on banknotes from becoming completely unmanageable.
This note was rendered obsolete almost immediately upon issue. The forint reform of 1 August 1946 replaced the entire pengő system at a conversion rate so extreme — 400 octillion pengő to one forint — that the figure has no practical analogy. Helbing and Horváth's engraving work was competent given the circumstances, though the printing infrastructure in Budapest was itself under severe strain throughout the series.