Tuesday, December 29, 2009

Hungarian One Hundred Million Pengos

Hungarian one hundred million (100,000,000) Pengo hyperinflation note.

Initially a supporter of the Axis powers, Hungary went to war with Russia - with disastrous results. Believing that the Axis would lose, Hungarian leaders then tried to reach an agreement with the Allied powers. Unfortunately, the scheme was uncovered by Hitler and Hungary became a Nazi-occupied territory in 1944.

Later, when the Nazis retreated, they stole Hungary's gold reserves, compelling the war-torn nation to run the printing presses. Alternatively, it is also possible that the hyperinflation was deliberately started by Russian Marxists to sabotage the economy.

Either way, by 1945 Pengo denominations had exceeded one million and July 1946 became the most severe period of hyperinflation in History, with prices doubling every 15 hours.

These banknotes are 63 years old!

Notes are in VG-XF condition.
Shipped directly from Hungary.
Stocks are available.

S$10 each!


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