100 000 Pengő blue

Hungary's postwar hyperinflation was among the most severe ever recorded, and the 100,000 Pengő was already an unremarkable denomination by the time it circulated in 1945 — within months, notes would be issued in the quadrillions. This particular note belongs to the earlier phase of the collapse, before the Magyar Nemzeti Bank abandoned any pretense of controlled issuance.

Pick 120 is the blue-tinted variant, distinguished from the red-brown P#119 of nominally identical face value. The two were printed concurrently rather than sequentially, a practical response to paper and ink supply constraints under wartime and occupation conditions.