Jaelus' Hungarian 5 Pengős
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Updated:
1/7/2023
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After WWI, the Treaty of Trianon carved up and gave away a significant portion of Hungary's ancestral territories, leaving the remnants of the country without a functioning government and in economic chaos. Turning to printing money in a desperate bid to recover from the war, Hungary sank into a period of terrible hyperinflation.
Under the Horthy Regency, a new currency was established. The word pengő is an onomatopoeia in Hungarian which evokes the sound of a ringing bell, or in the case of money, the ringing sound of hard silver coinage. In 1926 the pengő was introduced at an exchange rate of 12,500 old korona per pengő. It was hoped that by using the word pengő it would help people to view the new currency as having stability. While this worked for some time, from 1945-1946 the pengő experienced the worst hyperinflation ever seen by any country.
This short set includes the five circulating commemorative 5 pengő issues of the Kingdom of Hungary through its dissolution in 1945. This is a particularly challenging set, as all five issues had unmarked restrikes produced by Artex in the 1960s, leading to skepticism over the originality of high grade coins. A strong preference is given to slightly lower grade uncirculated coins whose originality is unquestionable over hyper-gems which might be nearly indistinguishable from restrikes.
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Jaelus' Hungarian 5 Pengős
By Jaelus
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