This serie of banknotes belongs to the period after the defeat of Hungary in Second World War and the subsequent economic crisis, with a significant hyperinflation.
There are banknotes of 500 pengö, 1,000 pengö, 10,000 pengö, 100,000 pengö,
1,000,000 pengö, 10,000,000 pengö, 100,000,000 pengö and 1,000,000,000
pengö.
This
banknote worth 100 pengö was first circulated April the 5th of
1945. On
the main side right, you can see a portrait
of King Matthias Corvinus, a Hungarian king during the 15th century, by
Giovanni Antonio Boltraffio. In the left part appears Hungarian coat of
arms and in the center, the value of the banknote and the name of the
National Bank in Hungarian (Magyar Nemzeti Bank). In the lower part appears a text saying that banknote fraud is punished by law and four 100's in the corners.
On
the other side of the banknote, it can be seen the
view of the baroque Buda Castle by the Danube river, in Bupapest. There are
three 100's, the written value of the banknote in Hungarian, German,
Croatian, Serbian, and Romanian. In the left appears the coat of arms of
the country and the rest of the banknote is fulled with decorative
elements. This banknote has no digital watermark. The size of this
banknote is 17.2 cm x 8.5 cm.
This
banknote worth 1 billion pengö was first circulated March the 18th of
1946. On
the main side right, you can see a woman model called Lúcia Lendvay,
from Székesfehérvár. In the left part appears a 1 and the word billion
(too big to be in number); in the center, the name of the
National Bank in Hungarian (Magyar Nemzeti Bank) and in the lower part, a text saying that banknote fraud is punished by the law. The whole
banknote is full of decorative elements.
On
the other side of the banknote, it can be seen two 1's with the word
millard (billion) and in the middle the written value of the banknote.
The rest of the banknote is fulled with kind of baroque decoration. This banknote has no digital watermark. The size of this
banknote is 17.2 cm x 8.5 cm.
100 pengö (száz pengö)
This
banknote worth 100 pengö was first circulated April the 5th of
1945. On
the main side right, you can see a portrait
of King Matthias Corvinus, a Hungarian king during the 15th century, by
Giovanni Antonio Boltraffio. In the left part appears Hungarian coat of
arms and in the center, the value of the banknote and the name of the
National Bank in Hungarian (Magyar Nemzeti Bank). In the lower part appears a text saying that banknote fraud is punished by law and four 100's in the corners. 
1,000,000,000 pengö (egymilliárd pengö)
This
banknote worth 1 billion pengö was first circulated March the 18th of
1946. On
the main side right, you can see a woman model called Lúcia Lendvay,
from Székesfehérvár. In the left part appears a 1 and the word billion
(too big to be in number); in the center, the name of the
National Bank in Hungarian (Magyar Nemzeti Bank) and in the lower part, a text saying that banknote fraud is punished by the law. The whole
banknote is full of decorative elements. 
On
the other side of the banknote, it can be seen two 1's with the word
millard (billion) and in the middle the written value of the banknote.
The rest of the banknote is fulled with kind of baroque decoration. This banknote has no digital watermark. The size of this
banknote is 17.2 cm x 8.5 cm. 
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