100 pengö 1944

Common. While issued in 1944 by the Red Army for a specific occupation context, eBay market data indicates consistent availability with recent sales across multiple condition grades. Notes in lower grades (F) regularly sell for under $2, while AU examples achieve $10-16.50 based on historical auction records. The 2008 catalog valuation of $10 UNC and the consistent supply of examples across all grades suggest adequate production quantities. The note is not scarce in the current collector market.

This note was issued in 1944 by the Red Army's command structure during the Soviet military occupation of Hungary in the final phase of World War II. The mandatory acceptance clause and military law counterfeiting penalty inscription reflect the emergency nature of military payment currency, which was used to facilitate transactions in occupied territories. The ornamental Hungarian heraldic design elements were retained despite Soviet issuance, representing the complex transition period as Hungary came under Soviet control.

The obverse features a symmetric ornamental design centered on a large oval cartouche with fine wavy line patterns in the background, surrounded by an intricate decorative border of scrollwork and geometric patterns. The denomination 'SZÁZ PENGO' appears prominently in large serif letters within a rectangular frame in the center. Ornamental crowned heraldic emblems and winged eagle figures occupy the top center and corner positions, consistent with Hungarian numismatic tradition. The reverse displays an elaborate scalloped circular frame containing repeated '100' numerals arranged in a square pattern, with decorative cartouches on the left and right sides containing 'SZAZ' text. The background features subtle geometric crosshatch patterns. All four corners of both sides display the numeral '100'. The overall aesthetic is heavily ornamental and symmetrical, emphasizing the official character of military currency.

FRONT SIDE: 'SZÁZ PENGO' (One Hundred Pengö) — primary denomination display; 'MAGYARORSZÁG PÁHZNÓ' (Hungary) — issuing authority; 'PÉNZJEGYIRODA' (Banknote Office); 'ELFOGADÁSA MINDEN FIZETÉSNÉL KÖTELEZO' (Mandatory acceptance in all payments); 'HAMISITATÁSA HADITÖRVÉNYEK SZERINT BÜNTETTETIK' (Counterfeiting is punished according to military law); '1944' (year of issue); '100' (denomination in corners). BACK SIDE: 'SZÁZ PENGO' (One Hundred Pengö); 'SZAZ' (Hundred — appears on left and right); 'MAGYARORSZÁG PÁHZNÓ' (Hungary); '100' (denomination repeated in scalloped circular frame and corners).

Intaglio (recess) printing, evidenced by the fine line work, intricate border details, wavy line patterns, and sharp serif typography visible throughout both sides. The complex decorative elements and security features including geometric crosshatching and fine scrollwork are characteristic of high-security banknote production. The printer for this specific military payment series is not definitively documented in standard catalogs but was produced under Soviet Red Army authority.

The catalog data indicates 2 serial number varieties exist for this Pick number P-M8. The examined specimen carries serial number 'CT 443422' printed on both front sides, representing one of these documented varieties. Collectors should verify which variety they possess by examining the serial number prefix and format. No other significant overprints, date variations, or signature varieties are noted for this military issue.