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| 正面描述 | Intaglio portrait vignette of statesman Ferenc Deák (1803–1876) at right, his name and dates inscribed below within the fine guilloche border frame. The Hungarian coat of arms occupies an ornate guilloche medallion at left, with the denomination numeral '10' appearing on both flanking sides. Central text reads 'TIZ PENGŐ' above the issuer name 'MAGYAR NEMZETI BANK' and the date 'BUDAPEST, 1929. ÉVI FEBRUÁR HÓ 1-ÉN', with two manuscript signatures below the respective titles 'FŐTANÁCSOS' and 'VEZÉRIGAZGATÓ'. |
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| 背面描述 | Central oval intaglio vignette of the Hungarian Parliament building in Budapest as seen from the Danube, rendered with fine architectural detail. A large circular guilloche medallion at left carries the numeral '10' and the inscription 'PENGŐ'. Multilingual denomination inscriptions in Hungarian, German, and additional languages are arranged across the upper and lower margins. |
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The Magyar Nemzeti Bank's 1929 series was issued in the relative calm of the interwar stabilization period, after Hungary's catastrophic hyperinflation of the early 1920s had been brought under control with League of Nations assistance and the introduction of the pengő in 1927. This note appeared just two years into the new currency's existence — early enough that public confidence in paper money was still fragile.
Printed by the Hungarian state printing works, the series relied on watermark security at a time when Hungarian banknote production was working to establish domestic credibility after years of monetary collapse. Notes from this issue that survived into the 1940s were eventually rendered obsolete by wartime inflation that would, by 1946, produce the worst hyperinflation ever recorded in history.