20 pengö 1941
Market Prices
127 salesAbout This Note
This is an exceptional example of the Hungarian 20 pengö from 1941 (Pick P-109), presented in uncirculated condition with pristine preservation. The note features elegant Art Deco styling with a classical female portrait on the obverse and two figures in period dress on the reverse, all rendered in fine blue and peach tones with intricate engraved detailing. As an UNC example with sharp detail and no wear, this represents the finest condition grade for this common but historically significant interwar Hungarian banknote.
Common. The 20 pengö denomination from 1941 was issued in substantial quantities by the Magyar Nemzeti Bank and represents a standard denomination of the final pre-hyperinflation pengö series. eBay market data confirms common status: ungraded circulated examples consistently sell for $1-7, while UNC raw examples trade in the $7-12 range, and graded PMG examples (64-67) command $20-60. These price points are typical for common historical banknotes. No evidence of short print runs, recalls, or scarcity exists for this Pick number.
Issued on January 15, 1941, during World War II when Hungary maintained nominal independence while under German influence, this note reflects the period's classical aesthetic in its portraiture and heraldic imagery. The multilingual reverse (Hungarian, German, Czech, Romanian, and Russian/Cyrillic) reflects Hungary's multi-ethnic character and the complex political geography of the Central European region during the wartime period. The denomination and design scheme represent the penultimate phase of the pengö currency system before postwar hyperinflation rendered such notes obsolete.
The obverse features a classical bust portrait of a woman in profile, rendered within an ornamental circular frame on the right side, representing Hungarian cultural identity. The central pastoral scene depicts a shepherd figure with sheep and other rural animals, symbolizing agricultural prosperity and traditional Hungarian life. The reverse presents an oval portrait of two figures in classical dress—a male and female in apparent conversation—surrounded by ornate decorative framing. Both sides incorporate the Hungarian coat of arms with crown in a heraldic shield, elaborate floral and scrollwork borders, cartouches containing the denomination '20', and fine cross-hatching patterns typical of high-security engraved currency. The multilingual denomination text on the reverse (six languages/scripts) reflects the multicultural composition of the Kingdom of Hungary during this period.
FRONT SIDE: 'HÚSZPENGŐ' (Twenty pengö) / 'BUDAPEST, 1941 ÉVI JANUÁR HÓ 15-ÉN' (Budapest, January 15, 1941) / 'MAGYAR NEMZETI BANK' (Hungarian National Bank) / Series designation 'C 143' and serial number '015977'. BACK SIDE: 'HÚSZ PENGŐ' (Hungarian: Twenty pengö) / 'ZWANZIG PENGŐ' (German: Twenty pengö) / 'DVADSÁŤ PENGŮ' (Czech: Twenty pengö) / 'ДВАДЦЕТПЕНГОВА' and 'ДВАДЦАТЬ ПЕНГИБОВ' (Russian/Cyrillic: Twenty pengö) / 'DOUAZECI PENGEI' (Romanian: Twenty pengö).
Traditional intaglio engraving (line engraving) with multiple colors applied through separate plates. The fine line work, detailed cross-hatching, intricate scrollwork, and the sharpness of portrait detail visible in this uncirculated example are characteristic of professional security engraving by the Magyar Nemzeti Bank's production facilities or contracted security printers of the period. No specific overprints or security features beyond traditional engraved elements are evident.
Series designation 'C 143' with serial number '015977' is visible on the obverse. This note represents a standard emission from the 1941 issuance. PMG cataloging indicates one variant for Pick P-109. No significant varieties (such as major overprints, signature variations, or denominal errors) are known for this pick number. The January 15, 1941 date is the standard date for all notes in this series.
