Catalog
5 Korona Arad
| Issuer | Aradvárosi Pénztárjegy (Arad Municipal Treasury) |
|---|---|
| Year | 1919 |
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| Value | 5 Korona |
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| Obverse description | The obverse is divided into two panels printed in terracotta red and black on cream paper. The left panel contains a circular floral wreath vignette with the large numeral '5' below it, flanked by decorative rosette ornaments, and the inscription 'KORONA' at the foot. The right panel carries a woodcut-style vignette of three male workers above the denomination legend 'ARADVÁROSI PÉNZTÁRJEGY / ÖT KORONA', with the numeral '5' repeated in stylized letterpress at lower left and right; anti-counterfeiting warnings appear in two vertical columns flanking the central vignette. |
|---|---|
| Obverse lettering | ARADVÁROSI PÉNZTÁRJEGY ÖT KORONA KORONA 5 A pénztárjegy hamisítóját a törvény szigoruan bünteti. |
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| Comments |
Arad was a city in freefall in early 1919. The Austro-Hungarian crown was collapsing in purchasing power, Serbian forces had just withdrawn, and Romanian troops were advancing — the city would be formally ceded to Romania by August. In that window of administrative chaos, the municipal treasury issued its own emergency scrip because no functioning central authority could supply adequate currency. These local pénztárjegy issues were a practical response to a breakdown, not a formal monetary policy.
The Ambrus catalog documents this as one of several Arad municipal denominations from the same crisis period. Given the circumstances of issue and the near-total disruption that followed Romanian annexation, survival rates for circulated examples are poor.