{"product_id":"hungary-1000000-adopengo-1946-p-140-f-vf-collectible-banknote","title":"Hungary 1,000,000 Adópengő 1946 P-140 F-VF – Hyperinflation Tax Note","description":"\u003cp\u003e📸 \u003cstrong\u003ePlease Note:\u003c\/strong\u003e 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.\u003c\/p\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003cspan\u003eA tax note for one million adópengő from Hungary in 1946, the worst hyperinflation ever recorded. The adópengő, or \"tax pengő\", was created as a stable unit for paying taxes, but by July 1946 it had become money itself and was collapsing almost as fast as the pengő it was meant to replace.\u003c\/span\u003e\u003c\/p\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e⚡ \u003cstrong\u003eExtreme Index: 8.8 \/ 10\u003c\/strong\u003e\u003cbr\u003e\u003cem\u003eWhy it's extreme:\u003c\/em\u003e Money from the worst hyperinflation ever recorded – a \"stable\" tax unit that itself collapsed within weeks.\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eHistory \u0026amp; drama (30%):\u003c\/strong\u003e 9\/10\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eScarcity (25%):\u003c\/strong\u003e 4.9\/10 (Numista rarity index 36\/100)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eWow factor (20%):\u003c\/strong\u003e 8\/10\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eAge (15%):\u003c\/strong\u003e 7\/10\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCondition (10%):\u003c\/strong\u003e 5\/10\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e\u003cem\u003eHyperinflation rule: notes from a hyperinflation score at least 8.0.\u003c\/em\u003e\u003c\/p\u003e\u003cp\u003e\u003cem\u003eThe Extreme Index is Extreme Banknotes' own collector score based on history, scarcity, curiosity, age and condition — it is not a valuation or investment rating.\u003c\/em\u003e\u003c\/p\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003cspan\u003e📦 \u003c\/span\u003e\u003cstrong\u003eIncluded Banknote(s):\u003c\/strong\u003e\u003c\/p\u003e\u003col\u003e\u003cli\u003e\u003cp\u003e25 May 1946 Hungary 1,000,000 Adópengő tax note (adójegy) (P-140)\u003c\/p\u003e\u003c\/li\u003e\u003c\/ol\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003cspan\u003e📖 \u003c\/span\u003e\u003cstrong\u003eHistory and Significance:\u003c\/strong\u003e\u003cbr\u003eAfter the Second World War, Hungarian prices doubled roughly every 15 hours at the peak in July 1946, the fastest inflation in recorded history. To keep tax revenue from melting away, the government introduced the adópengő (\"tax pengő\") on 1 January 1946: a unit of account whose value was re-set against the pengő every day using a price index. At first 1 adópengő equalled 1 pengő; by the end of July 1946 one adópengő was worth about 2 × 10²¹ (two thousand billion billion) pengő. In May 1946 the Ministry of Finance began issuing paper tax notes (adójegy) in adópengő, like this one dated 25 May 1946, officially for paying public taxes until 31 July 1946; from July they were made legal tender and circulated as everyday money. On 1 August 1946 the forint replaced both currencies at 1 forint = 200 million adópengő.\u003c\/p\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003cspan\u003e🎨 \u003c\/span\u003e\u003cstrong\u003eDesign Details:\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eFront:\u003c\/strong\u003e Red ornamental border on a grey underprint with the text ADÓJEGY EGYMILLIÓ ADÓPENGŐRŐL, \"kizárólag közadók lerovására 1946. július hó 31. napjáig használható\" (usable only for paying public taxes until 31 July 1946), dated Budapest, 25 May 1946, with the signature of the Minister of Finance.\u003cbr\u003e\u003cstrong\u003eBack:\u003c\/strong\u003e The Hungarian coat of arms in the underprint and the terms of use in Hungarian, citing decree 5.600\/1946 M.E.\u003c\/p\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003cspan\u003e🔍 \u003c\/span\u003e\u003cstrong\u003eNumismatic Features:\u003c\/strong\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eSize:\u003c\/strong\u003e 136 × 82 mm\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eMaterial:\u003c\/strong\u003e Paper\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eType:\u003c\/strong\u003e Tax note (adójegy), later legal tender\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCurrency:\u003c\/strong\u003e Hungarian adópengő (tax pengő)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCountry:\u003c\/strong\u003e Hungary\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eIssuing Authority:\u003c\/strong\u003e Hungarian Ministry of Finance\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eDate:\u003c\/strong\u003e 25 May 1946\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eDesigner:\u003c\/strong\u003e Endre Horváth\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eValid until:\u003c\/strong\u003e 31 July 1946\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003cspan\u003e✅ \u003c\/span\u003e\u003cstrong\u003eCondition Guide:\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eF-VF (Fine to Very Fine).\u003c\/strong\u003e A circulated note with folds, softer paper and some edge wear, but complete and with clear design details. As we hold multiple examples, the note you receive may differ slightly from the one photographed, but will be in the same grade.\u003c\/p\u003e","brand":"Extreme Banknotes","offers":[{"title":"Default Title","offer_id":61330912641358,"sku":null,"price":4990.0,"currency_code":"HUF","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0805\/8647\/3806\/files\/Hungary_1000000_Adopengo_1946_P-140_F-VF_1_front_back.jpg?v=1792752332","url":"https:\/\/extremebanknotes.com\/products\/hungary-1000000-adopengo-1946-p-140-f-vf-collectible-banknote","provider":"Extreme Banknotes","version":"1.0","type":"link"}