Extreme Banknotes
Hungary Tizmillio 10 million 10,000,000 B-Pengo (10 quintillion) 1946 hyperinflation banknote 1946
Hungary Tizmillio 10 million 10,000,000 B-Pengo (10 quintillion) 1946 hyperinflation banknote 1946
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Hungary Tizmillio 10 million 10,000,000 B-Pengo (10 quintillion) 1946 P-135
The banknote's denomination is quite confusing. It is '1 million b-pengo', which means it is 1 million x 1 (b) billion pengo, which equals to 1 Quintillion. Since the Hungarian population at the time was unable to comprehend such colossal numbers, it was only the letter 'b' that was placed in front of the pengo, to make it easier to understand.
However, since these hyper-inflationary banknotes were printed in ever greater variety in the cold and hungry months of 1945-1946, the population was usually only able to identify them by their colour. They were called, the red, the pink, the purple, etc.
These banknotes had been in circulation only for a few weeks during the summer of 1946 after World War 2, and are very difficult to find in good, or uncirculated condition. They are also difficult to find unfolded, as these are larger than the previously used, non inflationary pengo banknotes. They did not fit in to most wallets, thus were immediately folded upon receipt.
B-pengő print runs were limited in numbers. Estimated print-run of the 1 million B-pengő is between 1 and 1.4 million only. As a comparison, a modern $1 star note bill with a 4 million print-run is considered rare, and a 640,000 one is very rare! The reasons behind the short print-runs, is that due to hyperinflation in Hungary after World War 2, very soon new and larger denominations had to be created one after the other, and these higher and higher denominations, even in smaller numbers, added a significant liability to the balance sheet of the Hungarian National Bank.
CONDITION GUIDE
Gem Uncirculated
A note that is flawless, with the same freshness, crispness and bright color as when first printed. It
must be perfectly centered, with full margins, and free of any marks, blemishes or traces of handling.
About Uncirculated
A bright, crisp note that appears new but upon close examination shows a trace of very light use, such as a corner fold or faint crease. 'About Uncirculated' is a borderline condition, applied to a note which may not be quite uncirculated, but yet is obviously better than an average Extra Fine note. Such notes command a price only slightly below a new note and are highly desirable.
Extra Fine
A note that shows some faint evidence of circulation, although it will still be bright and retain nearly full crispness. It may have two or three minor folds or creases but no tears or stains and no discolorations.
Very Fine
A note that has been in circulation, but not actively or for long. It still retains some crispness and is still choice enough in its condition to be altogether desirable. It may show folds or creases, or some light smudges from the hands of a past generation. Sometimes, Very Fine notes are the best available in certain rare issues, and they should accordingly be cherished just as much as uncirculated notes.
Fine
A fine note shows evidence of much more circulation, has lost its crispness and very fine detail, and creases are more pronounced, although the note is still not seriously soiled or stained.
SHIPPING
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