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50 Pengő
| Issuer | Magyar Nemzeti Bank |
|---|---|
| Year | 1926 |
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| Currency | Pengo (1927-1946) |
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| Obverse description | An intaglio portrait of Prince Ferenc II Rákóczi in an ornate oval medallion frame at right, rendered in fine line engraving and dressed in period attire with a fur-trimmed hat. The large gothic-style denomination text ÖTVEN PENGŐ is centred, with the issuer inscription MAGYAR NEMZETI BANK below and the date BUDAPEST, 1926. ÉVI MÁRCIUS HÓ 1-ÉN printed beneath it. Three facsimile signatures of bank officials appear at lower centre above their respective titles, with guilloche underprint and decorative numeral panels at both left and right margins. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The central vignette reproduces Lotz Károly's painting Ménes a zivatarban (Horse herd in the approaching storm), an atmospheric landscape rendered in intaglio showing a group of horses being driven across an open plain beneath a turbulent, cloud-laden sky. The Hungarian coat of arms appears at left within a decorative panel, and an ornate cartouche occupies the right margin. The denomination is expressed in multiple languages in letterpress along the upper and lower borders. |
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| Comments |
Hungary's postwar hyperinflation of 1922–24 had rendered the korona worthless — at its worst, notes were being issued in the billions. The 1926 pengő series was the direct consequence of a League of Nations-supervised stabilization program, which tied the new currency to gold and handed oversight to an international committee seated in Geneva. The Magyar Nemzeti Bank itself had only been re-established in 1924 as a condition of that loan arrangement.
This note was printed domestically, which was a deliberate political choice — Hungary wanted visible control over its own monetary reconstruction after years of external interference.