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| 正面铭文 | 50 ÖTVEN KORONA EZ AZ ÁLLAMJEGY, AMELY MAGYARORSZÁG FÜGGŐ ADÓSSÁGÁNAK RÉSZE, A TÖRVÉNY HATÁROZATAIHOZ KÉPEST MINDENKI ÁLTAL, VALAMINT MINDEN KÖZPÉNZTÁRNÁL FIZETÉS- KÉP TELJES NÉVÉRTÉKBEN ELFOGADANDÓ. BUDAPEST, 1920. ÉVI JANUÁR HÓ 1.-ÉN. AZ ÁLLAMJEGYEK UTÁNZÁSA A TÖRVÉNY SZERINT BÜNTETTETIK. ORELL FUSSLI ZURICH (Translation: Fifty Crowns This treasury note, which is a part of Hungary's pending debt, is to be accepted at face value by payment by everyone and in every public fund, according to the decisions of the law. Budapest, January 1, 1920 Counterfeiting treasury notes is punishable by law) |
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| 背面铭文 | ÖTVEN KORONA (Translation: Fifty Crowns) |
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Hungary's postwar financial situation in 1920 was severe enough that the government contracted Orell Füssli in Zurich to produce notes domestically impossible to print in sufficient quantity or security. The Austro-Hungarian krone had collapsed with the empire, and the new Hungarian state was issuing its own korona series under the Ministry of Finance rather than a central bank — a telling sign of how provisional the entire monetary arrangement was.
Orell Füssli had been printing securities and banknotes since the nineteenth century and was a logical choice for a landlocked neutral country's printer. The Swiss origin is occasionally misread as a mark of stability; in practice these notes circulated into rapid inflation that made the 50 korona denomination nearly worthless within a few years of issue.