Obverse. Photo © Katz Auction
  • 75 Forint 1999, KM# 734, Hungary, 75th Anniversary of the Foundation of the Magyar Nemzeti Bank
  • 75 Forint 1999, KM# 734, Hungary, 75th 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.

Engraver: György Kiss

Obverse

Depicts the ancient Roman goddess from mythology, Juno Moneta, with the words "JUNO" inscribed on the left side and "MONETA" on the right side, aligned horizontally. Surrounding the image in a circular fashion, Hungarian text appears at the top and English at the bottom. Each inscription on either side is punctuated by decorative marks. Completing the circle between the circular inscription and the central field is a series of bead decorations.

Juno Moneta is an ancient Roman goddess, often associated with protection and finance. Juno Moneta became closely associated with the minting of coins and the financial aspect of Roman society. Her temple on the Capitoline Hill in Rome served as the city's mint, hence the origin of the word "mint" for a place where coins are produced. Juno Moneta is sometimes depicted holding scales or coins, symbolizing her association with wealth and prosperity.

75 ÉVES A MAGYAR NEMZETI BANK
75 YEARS NATIONAL BANK OF HUNGARY
JUNO MONETA

Reverse

Depicts the coat of arms of the Republic of Hungary, beneath which lies the denomination. Positioned on the left side of the coat of arms is the year of minting, while the mint mark (BP) is located on the right side. Surrounding the edge in a circular fashion is the country's name, beneath which the engraver's privy mark (KYY) is placed. Each inscription on both sides is adorned with decorative marks. Situated between the circular inscription and the central field, forming a partial circle, is a series of bead decorations.

The Hungarian coat of arms, adopted in 1919 and reaffirmed on July 3, 1990, features a vertically divided shield with a rounded base. The left field displays eight red and silver horizontal bars, symbolizing the Árpád dynasty, while the right field depicts three green hills with a golden crown on the center hill and a silver patriarchal cross emerging from it. These elements represent the Danube, Tisza, Dráva, and Száva rivers, and the Tátra, Mátra, and Fátra mountain ranges. Atop the shield rests the Holy Crown of Hungary, also known as the Crown of Saint Stephen, which has been used for coronations since the 12th century. The crown's cross was tilted in the 17th century due to damage, and it has remained in this position since then, symbolizing the enduring history and legitimacy of Hungarian monarchs.

MAGYAR KÖZTÁRSASÁG
1999 BP.
75
FORINT
KYY

Edge

75 Forint

Third Republic

75th Anniversary of the Foundation of the Magyar Nemzeti Bank

KM# 734 Schön# 239 Adamo# EM158
Characteristics
Type Commemorative Issue (Non-circulating)
Material Silver
Fineness 0.925
Weight 31.46 g
Diameter 38.61 mm
Thickness 3 mm
Shape round
Alignment Medal
Mint
Budapest Mint (BP)

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