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500 000 Korona
| Issuer | Hungarian Royal Ministry of Finance |
|---|---|
| Year | 1923 |
| Type | Log in to see details |
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| Reference(s) | P#79 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | ÖTSZÁZEZER KORONA EZ AZ ÁLLAMJEGY A MELY MAGYARORSZÁG FÜGGŐ ADÓSSÁGÁNAK RÉSZE A TÖRVÉNY HATÁROZATAIHOZ KÉPEST MINDENKI ÁLTAL, VALAMINT MINDEN KÖZPÉNZTÁRNÁL FIZETÉSKÉPPEN TELJES NÉVÉRTÉKBEN ELFOGADANDÓ BUDAPEST, 1923. ÉVI JULIUS HÓ 1-ÉN PÉNZÜGYMINISTER AZ ÁLLAMJEGYEK UTÁNZÁSA A TÖRVÉNY SZERINTI BÜNTETTETIK 500,000 |
| Reverse description | The reverse is printed entirely in violet-purple on an intricate guilloche background, with the central panel bearing the denomination ÖTSZÁZEZER KORONA in a framed cartouche. The denomination 500,000 appears in all four corners, and the central area carries multilingual denomination inscriptions in Romanian, German, Czech, and Serbian/Bulgarian scripts arranged above and below the central cartouche. |
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| Comments |
By mid-1923, Hungary's postwar hyperinflation had progressed to the point where a 500,000 korona note was a practical necessity rather than an extravagance. The korona, already stripped of its Austro-Hungarian backing after 1918, had been sliding catastrophically — this denomination would itself become nearly worthless within months, eventually replaced when the pengő-predecessor stabilization currency, the korona's successor, was introduced in 1926.
The Magyar Pénzjegynyomda handled domestic printing throughout the inflation series. Orell Füssli of Zurich appears in the printer credits for related issues of the period, reflecting Hungary's reliance on Swiss facilities when domestic capacity or security paper supply was insufficient — a common arrangement among Central European states scrambling to keep pace with their own collapsing currencies.