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500 000 Adópengő
| Issuer | Hungarian Ministry of Finance |
|---|---|
| Year | 1946 |
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| Designer(s) | Endre Horváth |
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|---|---|
| Obverse lettering | ADÓJEGY ÖTSZÁZEZER ADÓPENGŐRŐL Kizárólag közadók lerovására 1946. Julius hó 31. napjáig használható BUDAPEST, 1946. ÉVI MÁJUS HÓ 25.-ÉN PÉNZÜGYMINISZTER AZ ADÓJEGY HAMISÍTÁSÁÉRT A TÖRVÉNYSZABTA BÜNTETÉS JÁR (Translation: Tax voucher for 500,000 tax pengő. To be used exclusively for the payment of public taxes until 31st July 1946. Budapest, 25th May 1946. Minister of Finance. Counterfeiting of this tax note is punishable by law.) |
| Reverse description | Grey-blue on pale underprint. The reverse carries no pictorial vignette; the entire field within a simple rope-pattern border is occupied by a block of justified Hungarian text setting out the legal conditions of use, printed over a dense guilloche underprint of interlocking rosette and star-burst lathe-work patterns. |
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| Comments |
The adópengő — literally "tax pengő" — was an indexed unit of account introduced by the Hungarian Ministry of Finance in January 1946 specifically because the ordinary pengő was inflating so fast it could not function. Daily radio broadcasts announced the official conversion rate; the 500,000 adópengő note was issued in May 1946, by which point the underlying pengő had already lost any practical meaning for large transactions.
Hungary's hyperinflation of 1945–46 remains the most severe ever recorded. The adópengő system bought a few months of administrative stability before the forint replaced everything in August 1946 at a rate that required 400 octillion pengő to equal one forint.
Endre Horváth designed across the full adópengő series.