1 pengö 1944
Market Prices
1 saleAbout This Note
This Hungarian 1 pengö military payment note from 1944 is an exceptional example in AU condition, displaying crisp printing and no signs of wear, creasing, or stains. The note features striking ornate decorative elements with beige/tan and dark blue-gray coloring, and represents currency issued by the Red Army command during the Soviet occupation of Hungary. Its pristine condition and historical significance as a wartime military currency make it a notable piece for collectors of Eastern European numismatics.
Common. Despite its historical interest as a Red Army occupation note, the eBay historical price data showing sales around $3-3.55 for AUNC/UNC examples and catalog valuations of only $3 for UNC condition indicate this note was produced in sufficient quantities to remain readily available to collectors. Military payment notes from 1944 Hungary were issued in functional quantities to support occupation administration, and survival rates remain adequate for the collector market.
Issued by 'A Vöröshadsereg Parancsnoksága' (The Command of the Red Army), this note represents the Soviet occupation currency imposed on Hungary during 1944, as the Red Army advanced through Eastern Europe in the final year of World War II. The winged emblem and mandatory acceptance language reflect the military authority's assertion of control over the Hungarian economy, while the date 1944 marks the critical period of Soviet military dominance in the region.
The note displays a classical engraved design with ornate scrollwork borders featuring intricate floral and shell-like fan motifs in the corners and along all edges. The obverse centers on the large denomination text 'EGY PENGŐ' with ornamental capital letters and issuer text arranged symmetrically. The reverse mirrors the decorative approach with large numeral '1' figures enclosed in ornate circular designs positioned left and right of center, flanking a rectangular panel containing the issuer and denomination information. A stylized winged Soviet emblem or insignia is prominently displayed above the central text on the reverse, serving as the authoritative symbol of the Red Army command. The entire design is underlaid with fine crosshatch pattern work providing security and visual texture against the beige/tan background.
FRONT: 'A Vöröshadsereg Parancsnoksága' translates to 'The Command of the Red Army'; 'EGY PENGŐ' translates to 'One Pengö'; 'ELFOGADÁSA MINDEN FIZETÉSNÉL KÖTELEZŐ HADITAXAI HADITORVÉNYEK SZERINT BÜNTETTETIK' translates to 'Acceptance is mandatory for all payments; violations of war tax laws are punishable.' BACK: 'A Vöröshadsereg Parancsnoksága' (The Command of the Red Army); 'EGY PENGŐ' (One Pengö); '1944' (the year of issue).
Intaglio (engraved) printing on a light brown underprint base, characteristic of Hungarian and Soviet occupation-era currency production. The fine crosshatch background pattern, intricate scrollwork borders, and detailed ornamental designs are typical of security-focused engraved banknote production. The precise execution suggests professional security printing facilities, likely those utilized by Soviet military authorities for occupation currency.
Pick catalog P-M2a designation indicates this is the primary variety of the 1944 Red Army 1 pengö issue. Visual analysis confirms the key identifying characteristics: absence of serial number, horizontal wavy lines noted in reference data, blue on light brown underprint coloring, and the standard 118 x 54mm printing dimensions. No overprints, date variations, or signature varieties are evident in this specimen. The variety P-M2a represents the standard military payment note issue without documented sub-varieties for this denomination and year.
