Hungary 10 Million Adópengő 1946 P-141 F – Hyperinflation Tax Note

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📸 Please Note: We have many of these banknotes in stock. The exact serial numbers and specific wear patterns will vary from the photographs, but the described condition and overall quality remain exactly the same.

Hold a piece of the worst hyperinflation in recorded history with this authentic Hungarian 10 Million Adópengő tax note from 1946. Created to give Hungary a stable unit of value, it soon circulated as everyday money and was itself swept away by the collapse of the pengő.

⚡ Extreme Index: 9.1 / 10
Why it’s extreme: A “tax pengő” note from the worst hyperinflation ever recorded, when prices doubled roughly every 15 hours.

• History & drama (30%): 10/10
• Scarcity (25%): 6.2/10 (Numista rarity index 53/100)
• Wow factor (20%): 8/10
• Age (15%): 7/10
• Condition (10%): 4.5/10

Hyperinflation note — minimum index 8.0.

The Extreme Index is Extreme Banknotes’ own collector score based on history, scarcity, curiosity, age and condition — it is not a valuation or investment rating.

📦 Included Banknote(s):

1. 1946 Hungary Adójegy – 10,000,000 Adópengő, dated 25 May 1946 (P-141)

📖 History and Significance:
In 1946 Hungary suffered the most extreme hyperinflation ever recorded: by July prices were doubling roughly every 15 hours. To keep tax revenue from evaporating, the government introduced the adópengő (“tax pengő”), a unit whose value against the ordinary pengő was reset every day. These “Adójegy” tax notes, dated 25 May 1946 and signed by Finance Minister Ferenc Gordon, were officially valid only for paying public taxes until 31 July 1946 — but they quickly circulated as ordinary money and were caught in the same inflationary spiral. On 1 August 1946 the forint replaced the pengő, at a rate of 200 million adópengő to one forint.

🎨 Design Details:
The obverse is a richly ornamented blue and yellow design with Hungarian folk-art corners, the heading “ADÓJEGY – TIZMILLIÓ ADÓPENGŐRŐL” (Tax note for ten million tax pengő), the restriction to public tax payments until 31 July 1946, and the Finance Minister’s signature. The reverse carries a dense blue guilloche pattern with the legal text explaining that the note loses its validity after the deadline. Designed by Endre Horváth.

🔍 Numismatic Features:

• Size: 136 x 82 mm

• Material: Paper

• Type: Tax Note (Adójegy) that circulated as currency

• Currency: Adópengő (1946)

• Country: Hungary

• Issuing Authority: Hungarian Ministry of Finance

• Date: 25 May 1946, valid until 31 July 1946

• Designer: Endre Horváth

✅ Condition Guide:
F (Fine) / Well Circulated. A Fine note has seen considerable circulation: expect multiple folds and creases, softened paper, rounded corners, light soiling or age toning, and possible small edge nicks, while the design remains complete and fully legible. Because we hold multiple quantities in inventory, the exact serial numbers and specific wear patterns will vary. This condition guide represents our overall quality standard rather than the specific flaws of the photographed note.