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| 正面描述 | Printed in shades of green and brown, the note carries the Hungarian Coat of Arms at the left margin and an intaglio portrait vignette of the poet Petőfi Sándor at the right. Series and serial number appear in red near the top centre, set against a fine guilloche underprint. The principal legends are arranged across the face, identifying the issuing bank and statutory counterfeiting warning. |
|---|---|
| 正面铭文 | ÖTVEN PENGŐ MAGYAR NEMZETI BANK A BANKJEGYEK UTÁNZÁSÁÉRT TÖRVÉNYSZABTA BÜNTETÉS JÁR (Translation: Fifty Pengoes Hungarian National Bank Counterfeiting banknotes is punishable by law) |
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The Magyar Nemzeti Bank's 1932 50 Pengő series came at a particularly difficult moment for Hungarian public finances. Hungary had suspended debt service on its foreign loans in 1931 and was operating under League of Nations financial supervision — a condition that imposed strict limits on note issuance, making the controlled print run of just over twelve million a matter of external policy as much as domestic monetary management.
The Pengő itself had only been introduced in 1927, replacing the badly inflated Korona at a rate of 12,500 to one.