WW II - Nazi Hungarian Russian Invasion Money

Presented here are the first (and only) banknotes put into circulation by the Russian Red Army after liberating the Hungarians from the Nazis in 1944 - 1945. At the outbreak of World War II, Hungary hoped to remain neutral, but in 1941 Hungarian troops were sent to join the Germans on the Soviet front. Attempts to break away from German control were unsuccessful, and Germany later occupied Hungary, emptying the National Bank of all gold banknote reserves, leading to the start of the greatest inflation in world history.

The Pengo (which in 1939 was worth 5 Pengos to the US Dollar) dropped so dramatically to a rate (in 1946) of 4,700,000,000,000,000,000,000,000,000,000 Pengos to the US Dollar.

These simple (in design) 20 Pengo notes issued by the occupying Red Army were desperately needed as the populace had no circulating funds when the Nazis were chased out of Hungary. These banknotes represent a very interesting and very short lived period of monetary history, lasting but a few months. These are all in circulated condition.

Medieval Armor e Medieval Helmets e  Spears e  Polearms e  Halberds e  Crossbows e  Daggers e  Swords e  Rapiers e  Flintlock Pistols
Revolvers e  Replica Shields e Replica Automatic Pistols e  Rifles e  Muskets e  Replica Machine Guns e  Battlefield Accessories e  Siege Weapons
Replica Statues e Model Ships e  Crosley Radio e Roman Empire Products e  Ancient History Products e  Medieval Products e  Renaissance Products
Colonial Products e Pirate Products e  Civil War Products e  World War I Products e  World War II Products e  Museum Products e Roman Empire Store e
Medieval Store e Renaissance Store e Civil War Store e Museum Store e Old West Reenactment Clothing e Egyptian Statues
e History Links e History Gifts e History Shop e 24 Hour Sales e History Affiliate Program eHistory Gift Ideas e