20 Fillér

Hungary's postwar disintegration — territorial losses under Trézianon, rampant inflation, and the collapse of the Austro-Hungarian krone system — created an acute shortage of small-denomination coinage. The Postal Savings Bank stepped in to fill the gap with these low-value paper fillérs, essentially emergency fractional currency issued by a savings institution rather than a central bank, which was itself an extraordinary administrative arrangement.

The fillér denominations from this 1920 series are among the smallest-format notes Hungary ever put into general circulation, and they were handled accordingly — heavy wear and edge damage are nearly universal on surviving examples.