During the War

Explore the world of Hungarian currency during World War II

1939: 5 Pengö Note

In October 1939 a 5 pengö was printed with a young woman and the Hungarian emblem on the obverse. On the reverse, was a troubadour.

1940: 2 Pengö Note

In July 1940, a 2 pengö note was printed. The obverse has a young Hungarian woman; the reverse, a matronly woman holding up a young child.

1941: 20 Pengö Note

In January 1941, a 20 pengö note was printed with a young woman in bridal appearance on the obverse and on the reverse a peasant woman and man walking from harvest in the field.

1943: 1000 Pengö Note

In February 1943, the 1000 pengö note arrived. On the obverse is a stylized woman with helmet and crown and on the reverse a picture of Buda, the Danube and Pest.

Hungarians again

Hungary entered WWII on the side of Germany, who cleverly waved a carrot in the front of the nation. That carrot, if Hungary joined the Axis, was the return of some of the most Hungarian land and people lost in the treaty of Trianon at the end of WWI. This indeed happened and among the hundreds of thousands repatriated, my parents who were from Transylvania, were once again Hungarians.

As the war dragged on

The war dragged on and in the battle of Stalingrad, Hungary suffered tremendously. By 1943 it was evident Germany could not win the war. Miklós Horthy, the legitimate leader of Hungary realized the end was coming for the Axis and tried secretly to sue for peace with the Allies in Western Europe. When this failed, Horthy tried dealing with the Russians. Germany discovered Horthy’s plot and immediately deposed him and put him in jail.

Red Asterisk Reissue

In Horthy’s place, the Nazis appointed Ferenc Szálasi, who completely cooperated with the Nazis. Szálasi was the head of the Arrow Cross Party and governed from October 1944 to March 1945. At that time the 10 pengö and the 100 pengö notes were reissued with a red asterisk before the series number. The asterisk identified these two notes as being produced by the Szálasi government.

Click Arrows Left/Right

Arrow Cross Overprints

These were followed by overprints of the 20 pengö of 1930 and 1941, the 10 pengö of 1936, the 50 pengö of 1932, and the 100 pengö of 1930 of a bold dark green Arrow Cross symbol.

The Arrow Cross

The Arrow Cross emblem was an ancient symbol of the Magyar tribes who settled Hungary over 1,000 years earlier. These bold dark green overprints also identified these denominations with the Szálasi government. This Arrow Cross emblem referred to the desire to nullify the Treaty of Trianon and expand the Hungarian state in all cardinal directions toward the former borders of the Kingdom of Hungary.

Retreating Westward

Of interest are 3 smaller Arrow Cross overprints printed by the cities of Köszeg, Sopron and Matisse, which reveals the retreating movement westward of the Hungarian army in front of the advancing Russian army.