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500 Forint Interest Paying Legal Tender Treasury Bill - without coupon
| Issuer | Hungarian Royal Treasury (Magyar Királyi Kincstár) |
|---|---|
| Year | 1848 |
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| In circulation to | Yes |
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| Obverse lettering | Kamatos utalvány 500 forint ezüst pénzben évi ötös százalékkal Ötszáz forintról ezüst pénzben, három huszast számitva egy forintra, melly összveget Magyarország kincstárának fő-fizetőhivatala Budán, ezen utalvány átadójának 18__ évi Július 26-ik napján készpénzben kifizetend. Buda 1848k Július 26kán A' magyar országos pénztárért a' pénzügyminister meghagyásából. Főpénztárnok — Ellenőr Szám 7. |
| Reverse description | The reverse bears a detailed printed interest calculation table titled 'Kamat-számítás' (Interest Calculation), arranged in multiple columnar grids with fine letterpress typography. The table provides day-by-day accrued interest figures for the 5% annual rate applicable to the instrument, intended as a ready-reckoner for the holder. |
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| Comments |
These interest-bearing bills were authorized under the finance ministry of Lajos Kossuth in the revolutionary months of 1848, forming the backbone of Hungary's first independent public debt instrument since Hapsburg centralization had long subordinated such functions to Vienna. The "without coupon" designation is the critical detail: the detachable coupon represented the interest entitlement, and its absence indicates that payment had already been claimed — or that the coupon was separated for separate redemption, as was common practice.
Landerer és Heckenast, the Pest printing house that produced these bills, was simultaneously printing radical nationalist newspapers during the revolution. The firm operated under considerable political pressure from both directions throughout 1848 and into the Világos collapse of 1849.