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500 Korona
| Issuer | Hungarian Royal Ministry of Finance |
|---|---|
| Year | 1923 |
| Type | Standard circulation banknote |
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| Obverse description | A circular intaglio vignette at right centre contains a portrait of Prince Árpád, founder of the Hungarian state, shown in three-quarter view wearing an ornate plumed helmet and chainmail armour. The denomination 'ÖTSZÁZ KORONA' is set in bold letterpress across the upper centre, flanked by dense guilloche underprint and corner numerals '500' on all four sides. The issue place and date 'BUDAPEST, 1923. ÉVI JULIUS HÓ 1-ÉN' appear below the main text block, accompanied by a facsimile ministerial signature and the title 'PÉNZÜGYMINISTER', with printer's initials 'T. W.' at the lower left margin. |
|---|---|
| Obverse lettering | ÖTSZÁZ KORONA. EZ AZ ÁLLAMJEGY, A MELY MAGYARORSZÁG FÜGGŐ ADÓSSÁGÁNAK RÉSZE A TÖRVÉNY HATÁROZATAIHOZ KÉPZST MINDENKI ÁLTAL, VALAMINT MINDEN KÖZPÉNZTÁRNÁL FIZETÉSKÉPES TELJES NÉVÉRTÉKBEN ELFOGADANDÓ. BUDAPEST, 1923. ÉVI JULIUS HÓ 1-ÉN. PÉNZÜGYMINISTER. AZ ÁLLAMJEGYEK UTÁNZÁSA A TÖRVÉNY SZERINT BÜNTETTETIK. 500 |
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| Comments |
By 1923, Hungary's postwar inflation was already severe, and the 500 Korona — a denomination that would have seemed substantial a few years earlier — was worth almost nothing by the time it reached circulation. The note belongs to a series issued by the Ministry of Finance directly rather than through a central bank, a structural anomaly born of the fact that the Austro-Hungarian Bank had been dissolved following the empire's collapse and Hungary had not yet established a successor institution.
Helbing Ferenc, who designed the note, was a respected Hungarian graphic artist working within the Magyar Királyi Állami Nyomda's stable of designers. The entire printing operation was domestic — no reliance on foreign security printers, which had been the norm before 1918.
The korona itself was replaced by the pengő in 1927, after a stabilization program backed by a League of Nations loan.