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20 Fillér Metro Vízmérőgyár Rt., Budapest

Issuer Metro Vízmérőgyár Rt. (Metro Water Meter Factory Co.), Budapest
Year 1920
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Value 20 Fillér (0.20)
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Obverse description Yellow-green note with a central guilloche rosette underprint surrounding the large numeral '20' in red, above which the word 'UTALVÁNY' (voucher) is printed in bold black lettering across the upper field. The four corners each bear the denomination '20 Fillér' in black script, and the lower portion carries a handwritten-style text in Hungarian stating the issuer's obligation to redeem the note at its cash office, concluding with 'Budapesten, 1920 deczember 15-ig.'
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Reverse description Yellow note with a bold black typographic design enclosed within a rectangular border of ornate guilloche scrollwork. The issuer's name '"METRO" VÍZMÉRŐGYÁR R·T' is inscribed across the upper register, with 'BUDAPEST' in large capitals below, and the denomination '20 fillér' printed in red numerals within a central oval cartouche flanked by decorative foliate ornaments.
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Metro Vízmérőgyár Rt. was one of dozens of Budapest industrial firms that issued their own small-denomination paper tokens during the severe coin shortage that followed Hungary's post-war economic dislocation. By 1920, the Hungarian state was simply unable to keep low-denomination metallic coinage in circulation — metal was scarce, inflation was accelerating, and fillér coins had effectively vanished from daily transactions. Factory-issued scrip filled the gap, redeemable only within the issuing company's own ecosystem of workers and canteen facilities.

The Adamo MSZK classification places this firmly within the documented corpus of Hungarian industrial notgeld, a category that remains underappreciated outside specialist circles.

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