Winning Set Details

2022 Best Presented Set

400 Points

Jaelus' Hungarian 5 Pengős

By Jaelus

After WWI, the Treaty of Trianon carved up and gave away a significant portion of Hungary's ancestral territories, leaving the remnants of the country without a functioning government and in economic chaos. Turning to printing money in a desperate bid to recover from the war, Hungary sank into a period of terrible hyperinflation. Under the Horthy Regency, a new currency was established. The word pengő is an onomatopoeia in Hungarian which evokes the sound of a ringing bell, or in the case of money, the ringing sound of hard silver coinage. In 1926 the pengő was introduced at an exchange rate of 12,500 old korona per pengő. It was hoped that by using the word pengő it would help people to view the new currency as having stability. While this worked for some time, from 1945-1946 the pengő experienced the worst hyperinflation ever seen by any country. This short set includes the five circulating commemorative 5 pengő issues of the Kingdom of Hungary through its dissolution in 1945. This is a particularly challenging set, as all five issues had unmarked restrikes produced by Artex in the 1960s, leading to skepticism over the originality of high grade coins. A strong preference is given to slightly lower grade uncirculated coins whose originality is unquestionable over hyper-gems which might be nearly indistinguishable from restrikes. Read more...

Jaelus' Hungarian 5 Pengős

By Jaelus

Owner Comments:

Gallery

NGC Expert Comments:

Would the original 5 Pengo please stand up? Jaelus, an expert collector of Hungarian coins, has assembled an original collection of attractive 5 Pengo commemorative coins issued in the 1930s and 1940s. The concept of original coins and restrikes would be foreign to collectors of US coins, as the US Mint never restruck a commemorative or proof coin after the original issue. In Hungary, however, a firm associated with the official mint restruck many coins in the 1960s, and often these restrikes are indistinguishable, but not to the keen eyes of Jaelus. Enjoy these coins; it’s easy to see why there was demand for further strikes of these designs!

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The NGC Registry is not endorsed by or associated with PCGS or CAC. PCGS is a registered trademark of Collectors Universe, Inc. CAC is a trademark of Certified Acceptance Corporation.