Obverse. Photo © NumisCorner.com
  • 100 Forint 1974, KM# 603, Hungary, 50th Anniversary of the Foundation of the Magyar Nemzeti Bank
  • 100 Forint 1974, KM# 603, Hungary, 50th Anniversary of the Foundation of the Magyar Nemzeti Bank
Description

Established in 1924 following the Austro-Hungarian Bank, with backing from the League of Nations' Economic and Financial Organization, the Magyar Nemzeti Bank, a member of the European System of Central Banks (ESCB), places a strong emphasis on international relations. It actively collaborates with global economic and financial institutions like the EU, IMF, OECD, and BIS. Its core objectives include ensuring price stability, managing the issuance of the Hungarian forint, regulating money supply, setting the Central Bank base rate, publishing official exchange rates, and overseeing foreign-exchange reserves and gold to influence exchange rates.

Originating from a stabilization loan facilitated by the League of Nations in 1923-1924, modeled after Austria's successful precedent a year prior, the Magyar Nemzeti Bank introduced the Hungarian pengő in 1927 to replace the korona.

During World War II and its immediate aftermath, the Magyar Nemzeti Bank struggled to maintain the value of the pengő, leading to the world's most severe hyperinflation episode in 1945-1946. Consequently, the bank introduced a new currency, the Hungarian forint, on August 1, 1946, and was subsequently nationalized by the end of 1947.

Obverse

Depicts the inscription "The 50th anniversary of the National Bank of Hungary" surrounded by various symbols of industry, agriculture, science, transport and education to illustrate the bank's role in development. The engraver's initials (CSV) below.

Engraver: Viktória Csúcs

50 éves a Magyar Nemzeti Bank
FORINT
CSV

Reverse

Depicts the denomination in the center, below the country name (Hungarian People's Republic), the coat of arms and the engraver's initials (GJ) on the top left, the mintmark (BP) and the issue year on the middle right.

The coat of arms of the Hungarian People's Republic consists of a centrally positioned Hungarian shield adorned with a five-pointed red star at the top, symbolizing socialism. Surrounding the shield are ears of wheat on either side, representing agriculture and the nation's bounty.

Engravers: József Garányi

Magyar Népköztársaság
GJ
100
Forint
BP.
1974

Edge

100 Forint

People's Republic
KM# 603 Unger# 1621 Huszar# 2384 Adamo# EM45
Characteristics
Type Commemorative Issue (Non-circulating)
Material Silver
Fineness 0.640
Weight 22 g
Diameter 37 mm
Thickness 2.3 mm
Shape round
Alignment Medal
Mint
Budapest Mint (BP)

Related coins

People's Republic

50th Anniversary of the Foundation of the Magyar Nemzeti Bank

Silver, 16 g, ⌀ 34 mm