1x Hungary 100 Quadrillion Pengo 1946 B-Pengo- UNC - Hyperinflation 4th Highest

Hungary 100 Quadrillion pengo 1946 B-Pengo - UNC

In Pristine Condition

World's Greatest Banknotes - Hyperinflation

Fourth highest banknote ever issued.

Important: The images of the Százezer B.-Pengo note as graded (66) by the PMG are to demonstrate the quality of the banknote on offer for comparison and is NOT included in the sale.

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The B.-Pengő notes were first issued to the public on June 3rd,1946, but were soon withdrawn due to the complete collapse of the Pengo currency.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 Százezer B.-Pengő – Hungarian for 100 Thousand-Billion pengő (or 100 Quadrillion Pengő -100,000,000,000,000,000,000 Pengo ) - banknote was printed by the Republic of Hungary in 1946.

With its astounding face value of 100 quadrillion Pengő, and with banknotes destined soon to be obsolete , this remarkable specimen represents one of the highest-denominated banknotes ever issued and is an indispensable addition to any collection of hyperinflation-era notes.

The top ten Hungarian hyperinflation notes

1. Hungary 1946 - 1 Sextillion Pengo (not issued)
2. Hungary 1946 - 100 Quintillion Pengo
3. Hungary 1946 - 10 Quintillion Pengo
4. Hungary 1946 - 1 Quintillion Pengo
5. Hungary 1946 - 100 Quadrillion Pengo
6. Hungary 1946 - 10 Quadrillion Pengo
7. Hungary 1946 - 1 Quadrillion Pengo
8. Hungary 1946 - 100 Trillion Pengo
9. Hungary 1946 - 10 Trillion Pengo
10. Hungary 1946 - 1 Trillion Pengo