5 Korona

The Magyar Postatakarékpénztár series of 1919 emerged from one of the most chaotic transitions in Central European monetary history. Following the collapse of Austria-Hungary in late 1918, Hungary found itself issuing overprints and emergency notes through whatever institutional apparatus remained functional — the Postal Savings Bank among them — while the new state's banking infrastructure was still being assembled.

Printed locally in Budapest rather than contracted abroad, the series reflects the constrained production options of a country under Allied blockade and in the early throes of the Hungarian Soviet Republic, which was proclaimed in March 1919.