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REPUBLIC ISSUES (1946-1948) After the trauma of the Second World War and the Hyperinflation of the Pengő the Hungarian government had to face the problems of introducing a new currency. In the case of coins this meant that they had to express stability and raise confidence in the people toward the new money. The first coins minted in 1946 were made of copper alloys in the case of the Fillér coins and aluminium in the case of the 1- and 2-forint-coins. Although the forint was based on Gold Standard , only silver coins were minted in the first two years: 5-forint-coins made of good quality silver were put into circulation. However, the government fear of hoarding these coins convinced the national bank to lower the mass and quality of silver used for the 1947 strike. Finally, no silver 5-forint-coins were minted for general circulation after 1947. The 5 and 50-fillér-coins were first minted in 1948 and were made of aluminium. Commemorative coins appeared early, the first being a series of 3 coins in 1948 to commemorate the Centennial of the 1848 Revolution . PEOPLE'S REPUBLIC ISSUES (1949-1989) In 1949 the communist party took power in every field of politics and economy. The country's name was changed to Hungarian People's Republic (''Magyar Népköztársaság'') which replaced the former name on the coins. The Kossuth's coat of arms was replaced with the Rákosi's one (see: Coat Of Arms Of Hungary ). The 2, 10 and 20 fillér coins were made of aluminium after 1950. As a consequence of the Hungarian Revolution Of 1956 the coat of arms was changed again, this version was used from 1957 until 1989. RECENT ISSUES (1990-) REMARKS # "MAGYAR ÁLLAMI VÁLTÓPÉNZ" = "Hungarian state Token Coin " - ''váltópénz'' literally means "small change"; here it stands to express that the metal of which the coin is made is worth less than the Face Value of the coin itself # "MAGYAR KÖZTÁRSASÁG" = "Hungarian Republic" # "MUNKA A NEMZETI JÓLÉT ALAPJA" = "Labour is the ground of national welfare" # "M Á P V" = "Magyar '''Á'''llami '''P'''énz'''v'''erde" = "Hungarian State Mint" # "ESKÜSZÜNK ESKÜSZÜNK" = "We vow, we vow" (from the Refrain of the Nemzeti Dal by Sándor Petőfi ) # "A LEGNAGYOBB MAGYAR EMLÉKÉRE" = "To commemorate the greatest Hungarian" ( Lajos Kossuth designated István Széchenyi as such) # "MAGYAR NÉPKÖZTÁRSASÁG" = "Hungarian People's Republic" FURTHER READING |
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