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5000 Korona

Issuer Hungarian Ministry of Finance
Year 1920
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Value 5000 Crowns (Koronás)
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Obverse description Central vignette to the right shows a crowned allegorical female figure representing Hungaria, rendered in intaglio within an oval frame. The denomination ÖTEZER KORONA appears in large letterpress type across the centre, above a multi-line Hungarian text declaring the note's legal tender status, dated BUDAPEST, 1920. ÉVI JANUÁR HÓ 1-ÉN. The entire field is framed by intricate guilloche borderwork with corner numerals reading 5000, and a serial number and series prefix appear in red above the central text block.
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Reverse lettering CINCI MII COROANE / FÜNFTAUSEND KRONEN= / ÖTEZER KORONA / PÄT TISÍC KORÚN. / ПЕТ ХИЉАДА КРУНА. / ПЯТЬГИСЯЧЪ КОРУНЪ.
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Comments

Hungary's postwar monetary situation in 1920 was dire enough that the government could not rely on domestic printing capacity and contracted Orell Füssli in Zurich — a firm with deep roots in Swiss security printing — to produce this high-denomination note. The 5000 Korona was not an aspirational denomination; it was a response to inflation already eroding the purchasing power of smaller notes at speed.

Traugott Willi's engraving work for Orell Füssli during this period was technically accomplished, though the note's useful life proved short. The Korona collapsed under hyperinflationary pressure by 1924, when Hungary introduced the Pengő and retired the entire series.

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