50 Forint

The 1951 series was issued under full Soviet-style central planning, just two years after Hungary's forced political consolidation under Rákosi. The National Bank had been nationalized in 1948, and these notes were among the first produced entirely within Hungary — design, engraving, and printing — without recourse to foreign security printers, which the new regime considered politically important.

Ádám Mányoki as a named designer credit is worth noting: he was an 18th-century court painter, long dead, whose work was being conscripted posthumously into the iconographic program of a communist state. The attribution almost certainly refers to a portrait source, not a living collaborator.