Hungary 10 Quintillion pengo 1946 B-Pengo - aUNC - Hyperinflation

Description: Hungary 10 Quintillion pengo 1946 B-Pengo - aUNC World's Greatest Banknotes- HyperinflationImportant: The images of the Tizmilio B.-Pengo note as graded (63) by the PMG are to demonstrate the quality of the banknote on offer for comparison and is NOT included in the sale.The second largest banknote ever issued. A Brief 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the word B.-PENGŐ (Billion-Pengő).The B.-Pengő notes were first issued to the public on June 3rd,1946, but were soon withdrawn due to the complete collapse of the Pengo currency.Following the collapse, and the introduction of the new Forint currency, coordinated with the Allies' return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 Tizmillio B.-Pengő banknote – Hungarian for 10 Million-Billion pengő (or 10 quintillion Pengő -10,000,000,000,000,000,000 Pengo ) - was printed by the Republic of Hungary in 1946.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 astronomical face value of 10 quintillion Pengő, and with banknotes destined soon to be obsolete, this remarkable specimen represents one of the highest-denominated banknotes that will ever be issued and is an indispensable addition to any collection of hyperinflation-era notes.The top ten Hungarian hyperinflation notesHungary 1946 - 1 Sextillion Pengo (not issued)Hungary 1946 - 100 Quintillion PengoHungary 1946 - 10 Quintillion PengoHungary 1946 - 1 Quintillion PengoHungary 1946 - 100 Quadrillion PengoHungary 1946 - 10 Quadrillion PengoHungary 1946 - 1 Quadrillion PengoHungary 1946 - 100 Trillion PengoHungary 1946 - 10 Trillion PengoHungary 1946 - 1 Trillion Pengo

Price: 334.95 AUD

Location: Perth

End Time: 2024-12-10T03:56:59.000Z

Shipping Cost: 18.8 AUD