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50 000 Adópengő
| Issuer | Hungarian State Treasury |
|---|---|
| Year | 1946 |
| Type | Standard circulation banknote |
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| Obverse description | Green note with ornate guilloche border framing the face. The denomination and tax-voucher designation are printed in bold letterpress text, with the serial number rendered in red ink. The overall layout is spare and utilitarian, consistent with the emergency fiscal character of the Adópengő issue. |
|---|---|
| Obverse lettering | ADÓJEGY ÖTVENEZER ADÓPENGŐRŐL Kizárólag közadók lerovására 1946. Julius hó 31. napjáig használható (Translation: Tax voucher for 50,000 tax pengő To be used until 31st of July, 1946, for payment of debts of communal taxes.) |
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| Comments |
Hungary's postwar hyperinflation of 1945–46 remains the worst ever recorded in monetary history. The adópengő — literally "tax pengő" — was introduced as an inflation-indexed unit tied to a daily officially published coefficient, a bureaucratic attempt to give the currency a stable anchor while the underlying pengő collapsed entirely. By the time this 50,000 adópengő note was issued, that coefficient was being adjusted daily by factors of hundreds.
On 1 August 1946, when the forint replaced everything, the total value of all pengő and adópengő in circulation was equivalent to roughly one-thousandth of a forint cent. Magyar Állami Nyomda printed over twelve million of these, yet almost none survived — not because they were rare at issue, but because they were worthless within weeks of printing.