Hungary Banknotes 100000 Korona 1923
Obverse: Portrait of young woman at right. Perforated "MINTA"
Reverse: Value in Hungarian and 5 foreign languages
Signature: Tibor Kállay.
In circulation from 30 July 1923 to 30 June 1927.
Date of Issue: 1 May 1923.
Dimensions: 165 x 105 mm.
Printer: Orell Füssli, Zürich, Switzerland.
Author: Ferenc Helbing.
Paper money of the Hungarian korona
1923 First Issue
50000 Korona 100000 Korona
1923 Second Issue
100 Korona 500 Korona 1000 Korona 5000 Korona 10000 Korona 25000 Korona 500000 Korona 1000000 Korona
The Hungarian korona (Hungarian: magyar korona; korona in English is "crown") was the replacement currency of the Austro-Hungarian Krone/korona amongst the boundaries of the newly created post-World War I Hungary. It suffered a serious inflation and was replaced by the pengő in 1925. The last korona banknotes were withdrawn from circulation in 1927.
According to the Treaty of Trianon and other treaties regulating the situation of countries emerging from the ruins of the dissolved Austro-Hungarian Empire, the former banknotes had to be overstamped by the new states and - after a given transition-period - replaced by a new currency. In the case of Hungary, this currency was the korona, which replaced its Austro-Hungarian counterpart at par. Hungary was the last country to fulfil the replacement obligation of the treaties and the stamps used for overstamping were very easy to copy, so a large portion of the common currency circulated in Hungary. This was a factor contributing to the process which finally led to a serious inflation. Finally, in 1925, the korona was replaced by the pengő at a rate of 12,500 korona = 1 pengő.