100 000 milpengö 1946
Market Prices
69 salesAbout This Note
This Hungarian 100,000 Milpengő note from 1946 is an exceptionally well-preserved example in AU condition, displaying vibrant colors and crisp detail throughout. The obverse features an elegant portrait of a woman in national costume within an ornamental oval frame, while the reverse showcases the Hungarian coat of arms surrounded by patriotic heraldic elements. Both sides exhibit the intricate guilloche patterns and fine line engraving characteristic of high-quality banknote production, with no visible wear, creases, or tears.
Common. Secondary market data shows this note consistently selling for $2-$6 in VF condition and $35-$70 for PMG-graded examples (PMG 64-66), indicating healthy supply and moderate collector demand. The extensive eBay sales history spanning from 2010 to 2026 demonstrates consistent availability. While the 1946 Milpengő series experienced high inflation and currency reforms in Hungary, this particular denomination and series were printed in sufficient quantities to remain readily available to collectors today.
This note was issued on April 29, 1946, by the Magyar Nemzeti Bank during Hungary's post-World War II reconstruction period. The prominent display of the Hungarian coat of arms with its distinctive crown and cross reflects the nation's reassertion of sovereignty following the war. The woman depicted in national costume on the obverse symbolizes Hungarian cultural identity and pride during a period of significant political and economic transition.
The obverse features an ornate frame design with dark teal/green and cream coloring, dominated by a cream-colored oval cartouche containing red text. A portrait of a woman in profile facing right occupies an oval frame on the right side, depicting her wearing period clothing with braided hair suggestive of Hungarian national costume. The denomination 100000 appears prominently at top and bottom, surrounded by decorative floral corner ornaments and geometric pattern borders with elaborate scrollwork. The reverse displays a light green/aqua background with dark teal borders, centering on the Hungarian coat of arms—featuring a shield with horizontal stripes and a cross, crowned and surrounded by oak and laurel branches with lilies. Decorative birds and floral motifs flank the central heraldic design, with the denomination repeated at top and bottom. The serial number 'B 053 019600' is visible on the reverse.
Front side: 'SZÁZEZER MILPENGŐ' (One hundred thousand milpengő); 'BUDAPEST 1946 ÉVI ÁPRILIS HÓ 29-ÉN' (Budapest, April 29, 1946); 'MAGYAR NEMZETI BANK' (Hungarian National Bank); 'ELNÖK' (President); 'FŐTANÁCSOS' (Chief Councilor); 'VEZÉRIGAZGATÓ' (General Director); 'A BANKNOT EGYHAMISTAÁST A TÖRVÉNY BUNTETI' (The counterfeiting of banknotes is punishable by law). Back side: 'SZÁZEZER MILPENGŐ' (One hundred thousand milpengő); Serial number elements 'B 053' and '019600'.
Intaglio engraving (line engraving), evidenced by the crisp fine lines, complex guilloche patterns, and detailed heraldic artwork throughout both sides. The intricate decorative borders, ornamental frames, and security features visible in the design are characteristic of high-security banknote production typical of the Hungarian National Bank's printing operations in 1946.
This example bears the serial number prefix 'B 053' with suffix '019600'. The date is confirmed as April 29, 1946. No overprints or significant varieties are apparent from the visual analysis. The note represents the standard issue of Pick P-127 with the woman portrait and arms design as documented in the catalog.
