Hungary 1945 1 Million Pengő – Egymillió Pengő – Magyar Nemzeti Bank – Hyperinflation Era Note – VF

Hungary 1945 1 Million Pengő – Egymillió Pengő – Magyar Nemzeti Bank – Hyperinflation Era Note – VF
CA$35.00

Issued in Budapest on November 16, 1945, this 1 Million Pengő (Egymillió Pengő) banknote represents the accelerating phase of Hungary’s historic 1945–1946 hyperinflation — the most extreme currency collapse ever recorded.

Before denominations reached billions, trillions, and even quintillions, notes like this 1 Million Pengő marked the first dramatic stage of monetary breakdown.

Historical Context

  • Post-WWII economic devastation

  • Rapid inflation accelerated into 1946

  • Precedes Milpengő and B.-Pengő denominations

  • Replaced by the Forint in August 1946

Hungary’s hyperinflation remains the worst in world history — prices doubling sometimes within hours.

Design Features

  • Blue-violet engraving

  • Portrait at right

  • Ornate classical border design

  • Serial prefix N 086

  • Dated 1945. évi november hó 16-án

  • Reverse landscape vignette with the Hungarian coat of arms

Highly collectible among:

  • Hyperinflation specialists

  • Economic history collectors

  • WWII aftermath currency collectors

  • Educational display collectors