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100 000 Milpengő
| Issuer | Magyar Nemzeti Bank |
|---|---|
| Year | 1946 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
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| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | P#127 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | SZÁZEZER MILPENGŐ BUDAPEST, 1946 ÉVI ÁPRILIS HÓ 29-ÉN MAGYAR NEMZETI BANK (Translation: One hundred thousand million Pengoes Budapest. 29th of April, 1946 Hungarian National Bank) |
| Reverse description | Log in to see details |
| Reverse lettering | SZÁZEZER MILPENGŐ 100000 (Translation: One hundred thousand million Pengoes) |
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| Comments |
By mid-1946, Hungary's postwar hyperinflation had become the worst ever recorded — the monthly inflation rate peaked at roughly 41.9 quadrillion percent in July of that year. The 100,000 milpengő was not an extreme denomination when issued; it was simply the next step in a progression that had already produced the milpengő (worth one million pengő) as a base unit. New denominations were being authorized and printed within weeks of each other as the currency's purchasing power collapsed faster than presses could respond.
Endre Horváth, who both designed and engraved this note, was responsible for much of the Magyar Nemzeti Bank's intaglio work during this period — a rare case of one craftsman holding both roles on the same issue.