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1 Korona
| Issuer | Hungarian Royal Ministry of Finance |
|---|---|
| Year | 1920 |
| Type | Log in to see details |
| Value | 1 Crown (Korona) |
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| Composition | Log in to see details |
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| Obverse description | Circular note printed in green on cream paper, the entire face occupied by concentric rings of fine guilloche lacework. The numeral '1' appears at centre within an ornamental cartouche, with the inscription 'KORONA' in serif capitals below, all surrounded by an elaborate rosette of interlocking guilloche patterns. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Circular reverse in green guilloche, with the Hungarian crowned arms — a quartered shield bearing the Árpád stripes and the apostolic double cross on a mount — placed at centre within successive rings of intricate lacework. Numerals appear at intervals around the outer guilloche border. |
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| Comments |
Hungary's post-WWI situation meant the new republic — and then the kingdom under Horthy — inherited a currency system in freefall. This 1 Korona was issued by the Hungarian Royal Ministry of Finance rather than a central bank, a direct consequence of the disruption to Austro-Hungarian financial institutions following the dissolution of the empire. The Ministry issued small-denomination notes as an emergency stopgap while the banking apparatus was reorganized.
The korona itself was already losing value rapidly by 1920, and within a few years the entire denomination structure would be swept away by hyperinflation, replaced eventually by the pengő in 1927.