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100 000 Adópengő Tax note
| Issuer | Magyar Királyi Postatakarékpénztár (Royal Hungarian Postal Savings Bank) |
|---|---|
| Year | 1946 |
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| Value | Log in to see details |
| Currency | Adopengo (1946) |
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| Obverse description | The face bears an octagonal or rectangular handstamp inscribed M. KIR. POSTATAKARÉKPÉNZTÁR (Royal Hungarian Postal Savings Bank), applied over the note's surface as a validation mark. The upper portion carries the principal title inscription, while the lower field is reserved for denomination text and issuing authority details. |
|---|---|
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| Reverse description | The reverse is divided into two sections: the left panel contains a receipt area with printed lines for cancellation date (Felmondás kelte), payment date (Kifizetés kelte), a circular postmark dated 1946, a handwritten acknowledgment line stating the equivalent adópengő value received on the payment date, and a signature line (aláírás). The right panel presents four numbered conditions of use (TUDNIVALÓK) in Hungarian, printed in letterpress, referencing government decrees and the role of Magyar Postatakarékpénztár branches in redemption, and is concluded with the issuer's name at the foot. |
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| Comments |
The adópengő — "tax pengő" — was an indexed unit of account introduced in January 1946 specifically because the regular pengő was collapsing so fast that tax collection had become nearly impossible. The government tied the adópengő to a daily index, which allowed it to nominally hold value while the ordinary pengő hyperinflated beneath it. By July 1946, the pengő had become the most inflated currency in recorded history, with denominations reaching 100 quintillion.
The 100,000 adópengő was itself obsolete almost immediately after printing. The forint reform of 1 August 1946 wiped the entire system — the conversion rate for ordinary pengő was set at 400 octillion to one forint.