Hungarian pengő

coin A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by ...

s () were part of the physical form of Hungary's historical currency, the

Hungarian pengő The pengő (; sometimes spelled as ''pengo'' or ''pengoe'' in English) was the currency of Kingdom of Hungary (1920–46), Hungary between 1 January 1927, when it replaced the Hungarian korona, korona, and 31 July 1946, when it was replaced by H ...

. Initially, higher value coins were made of silver to reflect value and stability. Later, during the second world war, these coins were replaced first by banknotes and later by aluminium coins. By the end of 1945, pengő coins completely lost their value due to rampant inflation.

Prewar series (1926-1940)

Before

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

, the

fillér ''Fillér'' () was the name of various small-denomination coins throughout Hungarian history. It was the subdivision of the Austro-Hungarian and the Hungarian korona, the pengő, and the forint. The name derives from the German word (four). ...

and pengő coins were made of bronze (1 and 2 f), cupronickel (10-, 20-, and 50 f), and 640 ‰ fine silver (1-, 2-, and 5 P). Commemorative 2 and 5 pengő coins were issued on anniversaries in large quantities (hundreds of thousands) and were released into circulation. The coins had a

Baroque The Baroque ( , , ) is a Western Style (visual arts), style of Baroque architecture, architecture, Baroque music, music, Baroque dance, dance, Baroque painting, painting, Baroque sculpture, sculpture, poetry, and other arts that flourished from ...

style; the most important designers were

János Pálinkás János is a masculine Hungarian given name. It originates from the Hebrew name Johanan and is thus a variant of the English name John. People Notable people with the name include: * János Aczél (mathematician) (1924–2020), Hungarian-Ca ...

Lajos Berán Lajos Berán: Saint Stephen of Hungary on the 5 pengő coin 1938 Lajos Berán (1882 – 1943 in Budapest) was a Hungarian sculptor and artist noted for his medal work. Notable coins include his 1915 96-mm cast bronze War Medal and 1925 reverse d ...

, and József Reményi. Although pengő was based on a gold standard, and the quality standards of gold coins (10 and 20 pengő) were enacted, no gold coins were released into circulation due to the

Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and ...

.www.penzportal.hu
(Foreign exchange control in Hungary)

War series (1940-1944)

As a consequence of the

war War is an armed conflict between the armed forces of states, or between governmental forces and armed groups that are organized under a certain command structure and have the capacity to sustain military operations, or between such organi ...

, the government recalled the silver pengő coins (deadline: 31 January 1942) to prevent personal hoarding. These were replaced by newly designed aluminium coins. Later the cupronickel 10, 20 and 50 fillér coins were recalled as well, moreover, even the bronze 1 and 2 fillér coins disappeared after a time. First, they were replaced by steel, later - in the case of the 2 fillér - with zinc coins. The war coins were redesigned by

. As the war escalated, none of the above metals was cheap enough to mint coins. The solution was the issuing of low denomination paper money (see

there There may refer to: * ''There'' (film), a 2009 Turkish film (Turkish title: ''Orada'') * ''There'' (virtual world) *''there'', a deictic adverb in English *''there'', an English pronoun used in phrases such as ''there is English grammar is the se ...

Postwar series (1945)

Only an aluminium 5-pengő-coin was minted under the postwar government. Due to the rampant inflation, all coins were withdrawn from circulation by the end of 1945. Source: *
www.numismatics.hu
*
www.penzportal.hu

Remarks

# "MAGYAR KIRÁLYSÁG" = "Kingdom of Hungary" # "MAGYARORSZÁG VÉDASSZONYA" = "

Patroness Patronage is the support, encouragement, privilege, or financial aid that an organization or individual bestows on another. In the history of art, art patronage refers to the support that princes, popes, and other wealthy and influential people ...

of Hungary" # "VITÉZ NAGYBÁNYAI HORTHY MIKLÓS MAGYARORSZÁG KORMÁNYZÓJA" = " Vitéz Miklós Horthy de

Nagybánya Baia Mare ( , ; ; ; ) is a city along the Săsar River, in northwestern Romania; it is the capital of Maramureș County. The city lies in the region of Maramureș, a subregion of Transylvania. It is situated about from Bucharest, from the bord ...

Regent In a monarchy, a regent () is a person appointed to govern a state because the actual monarch is a minor, absent, incapacitated or unable to discharge their powers and duties, or the throne is vacant and a new monarch has not yet been dete ...

of Hungary" # "A 300 ÉVES KIR PÁZMÁNY PÉTER TUD EGYETEM ALAPÍTÁSÁNAK EMLÉKÉRE" = "Anniversary of the establishment of the 300-year-old Péter Pázmány University of Sciences" # "LISZT FERENC A NAGY MAGYAR ZENEKÖLTŐ EMLÉKÉRE" = "To the memory of

Franz Liszt Franz Liszt (22 October 1811 – 31 July 1886) was a Hungarian composer, virtuoso pianist, conductor and teacher of the Romantic music, Romantic period. With a diverse List of compositions by Franz Liszt, body of work spanning more than six ...

, the great Hungarian composer" # "VITÉZ NAGYBÁNYAI HORTHY MIKLÓS KORMÁNYZÓSÁGÁNAK 10 ÉVFORDULÓJÁRA" = "To the 10th anniversary of the regency of Vitéz Miklós Horthy de Nagybánya" # "VITÉZ NAGYBÁNYAI HORTHY MIKLÓS MAGYARORSZÁG KORMÁNYZÓJA SZÜLETÉSÉNEK 75 ÉVFORDULÓJÁRA" = "To the 75th anniversary of the birth of Vitéz Miklós Horthy de Nagybánya, Regent of Hungary" # "MAGYAR ÁLLAMI VÁLTÓPÉNZ" = "Hungarian state (or treasury) change money"

References

{{DEFAULTSORT:Coins Of The Hungarian Pengo Hungarian pengo pengő