1x Hungary 1 Quintillion pengo 1946 B-Pengo UNC - Hyperinflation - 3rd Highest

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Seller: westerngold ✉️ (961) 100%, Location: Perth, AU, Ships to: WORLDWIDE, Item: 126366569566 1x Hungary 1 Quintillion pengo 1946 B-Pengo UNC - Hyperinflation - 3rd Highest.

Hungary 1 Quintillion pengo 1946 B-Pengo - UNC - Hyperinflation

World's Greatest Banknotes - Hyperinflation

Third Highest Note Ever Issued

Important: The images of the Egymillio B-Pengő note as graded (65) by the PMG are to demonstrate the quality of the banknote on offer for comparison and is NOT included in the sale.

A Short History of Hungary’s B-Pengo banknotes.

Long before Zimbabwe's hyperinflation of 2008, there was Hungary's, to-date, unparalleled inflation in 1946.

With Hungary's currency, the Pengő, tied to the gold standard, the nation was plunged into a fiat-currency catastrophe when the retreating Nazis looted Hungary's gold reserves. By June 1946, this event had propelled Hungary into a state of extreme hyperinflation. At its zenith in June 1946, the inflation rate skyrocketed to an astonishing 40 quadrillion percent .

To accommodate this, gargantuan denomination notes were produced in Budapest by the Hungarian Banknote Printing Corporation under the authority of the Hungarian National Bank (MNB).

The large denominational value of the high-end banknotes was simplified, via government decree, by replacing 12 zeros with the word B.-PENGŐ (Billion-Pengő).

The B.-Pengő notes were first issued to the public on June 3rd,1946, but were soon withdrawn due to the complete collapse of the Pengo currency.

Following the collapse, and the introduction of the new Forint currency, coordinated with the Allies' return of Hungary's gold reserves, the exchange rate between the Pengő and the new Forint was set at 1 Forint for a mind-boggling 400 octillion Pengo!

The events of 1946 in Hungary serve as a stark reminder of the dire consequences of excessive money printing.

This Banknote

The Egymillio B.-Pengő – Hungarian for 1 Million-Billion pengő (or 1 quintillion Pengő -1,000,000,000,000,000,000 Pengo ) - banknote was printed by the Republic of Hungary in 1946, during a period of massive hyperinflation.

The banknote features a portrait of Lajos Kossuth, (a Hungarian nobleman, lawyer, journalist, politician, statesman and governor-president of the Kingdom of Hungary during the revolution of 1848–1849).

With its astounding face value of 1 quintillion Pengő, and with banknotes destined soon to be obsolete , this remarkable specimen represents one of the highest-denominated banknotes ever issued and is an indispensable addition to any collection of hyperinflation-era notes.

The top ten Hungarian hyperinflation notes

  1. Hungary 1946 - 1 Sextillion Pengo (not issued)
  2. Hungary 1946 - 100 Quintillion Pengo
  3. Hungary 1946 - 10 Quintillion Pengo
  4. Hungary 1946 - 1 Quintillion Pengo
  5. Hungary 1946 - 100 Quadrillion Pengo
  6. Hungary 1946 - 10 Quadrillion Pengo
  7. Hungary 1946 - 1 Quadrillion Pengo
  8. Hungary 1946 - 100 Trillion Pengo
  9. Hungary 1946 - 10 Trillion Pengo
  10. Hungary 1946 - 1 Trillion Pengo
  • Condition: UNC - 3rd highest denomination banknotes ever issued.
  • Composition: Paper
  • Era: 1940s
  • Country: Hungary
  • Region of Origin: Europe
  • Modified Item: No
  • Face Value: 1 quintillion

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