Denier - Andrew II

Andrew II's reign was defined less by sound monetary policy than by the catastrophic land grants of his so-called "new institutions" — a program of alienating royal estates to favorites on a scale that permanently weakened the Hungarian crown's revenue base. The deniers issued under his authority reflect this fiscal erosion: successive debasements reduced silver content across the reign, and the coinage grew progressively thinner and lighter as the treasury strained to meet crusading expenses, including his ultimately fruitless 1217 participation in the Fifth Crusade.

The 1222 Golden Bull, Hungary's answer to Magna Carta, was partly a baronial response to exactly this kind of monetary and administrative mismanagement.