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The 70 YEARS OF THE FORINT – temporary exhibition and coin issuance

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Budapest, 29 July 2016The MNB will commemorate the 70th anniversary of the introduction of the forint with a temporary exhibition, as well as by issuing silver collector coins with a face value of HUF 10,000, non-ferrous metal coins with a face value of HUF 2,000 Ft and the commemorative version of the HUF 50 circulation coin. The exhibition can be viewed in Block C of the Corvinus University between 1 August 2016 and 30 September 2016. The coins for the anniversary were designed by István Kósa, and will officially be issued on 1 August 2016 at the opening ceremony of the exhibition.

The exhibition entitled The 70 Years of the Forint encompasses the comprehensive history of the monetary system of the forint and also provides an outlook on the gold coins from the Middle Ages as its former image and the silver coins from the 14th century. However, the main focus is the presentation of the economic and numismatic history of the 70 years passed since the introduction of the forint on 1 August 1946. The exhibition also presents the development of the technical tools in the fight against counterfeiting through banknotes and coins. The exhibition can be viewed every weekday from 10 am to 6 pm between 1 August and 30 September 2016 in Block C of the Corvinus University (1094 Bp., Közraktár u. 4-6.). The opening ceremony and the issue will take place at 11 am on 1 August.

On 1 August the MNB will issue silver collector coins with a face value of HUF 10,000 and their HUF 2,000 non-ferrous metal version on the occasion of the 70th anniversary of the introduction of the forint and releases the commemorative version of the HUF 50 circulation coin.

The collector coins are legal tender. On their obverse the graphical elements of the renewed HUF 20,000 banknote appear and the most important messages of the commemoration are displayed in micro-lettering: VALUES – DEVELOPMENT – TRADITION – TIMELESSNESS – STABILITY. The following elements of coin imagery also feature on the obverse: the inscription ‘MAGYARORSZÁG’, the value numerals 10,000 and 2000, the inscription ‘FORINT’, the mint mark ‘BP.’ as well as the mint year ‘2016’. In the graphical background the miniature signature of the MNB’s current Governor Dr György Matolcsy appears. To mirror this, the signature of Dr Imre Oltványi, Governor at the time of the introduction of the forint, was placed on the reverse.

On the reverse the forint and fillér coin denominations issued on 1 August 1946 as well as the image of the Kossuth coat-of-arms from the HUF 10 banknote of 1946 are represented as main motifs. The circular legend reads ‘HETVENÉVES A FORINT’. In the lower part the con is inscribed with 1946, referring to the year the forint was introduced. The reference is highlighted by the fact that the first digit in the year was inspired by the HUF 1 coin at the time. On the reverse István Kósa’s master mark is shown.

The silver coin is struck in .925 fine silver and weighs 31.46 grams. The non-ferrous metal coin is produced from an alloy of copper (75%) and nickel (25%) and weighs 30.8 grams. Both coins have a diameter of 38,61 mm and they have a milled edge. 5,000 pieces can be made of the silver commemorative coins in proof version and 5,000 pieces of the non-ferrous version in BU finish. The commemorative coins are distributed by the Hungarian Mint Ltd. and can be purchased from 1 August 2016 at the company’s coin shop (17 Hold u., distr. V, Budapest) and in the webshop on the company’s website (http://penzvero.hu/).

To mark the significance of the anniversary the MNB will also issue 2 million pieces of the commemorative version of the HUF 50 circulation coin. The new HUF 50 coin is identical with the HUF 50 coin in circulation with regard to its technical parameters. Its nominal value side is identical with that of the HUF 50 coin currently in circulation. The thematic side features a motif borrowed from the renewed HUF 10,000 banknote with the coat-of-arms of Hungary in the centre replacing the usual saker falcon. In the lower circular legend the phrase ‘HETVENÉVES A FORINT’ was placed.

The commemorative coin and the thematic side of the new HUF 50 was designed by István Kósa, who worked as the chief engraver for the Hungarian Mint Ltd. and retired in 2016.

The public will be able to familiarise themselves with the new HUF 50 coin in circulation during cash transactions, in making everyday purchases. Collectors can purchase the BU coins still not in circulation at the coin shop of the Hungarian Mint Ltd. (17 Hold utca, Budapest) and at the Bank’s retail cash office (1 Kiss Ernő utca, distr V, Budapest) after being exchanged until stocks are exhausted.

The commemorative version of the HUF 50 coins minted for general circulation can also be purchased in gift wrapping: the first-day (BU) mint in numbered gift wrapping, as well as in the 2016 coin circulation set along with the complete coin denomination set in proof finish through the distribution channels of the Hungarian Mint Ltd.

Magyar Nemzeti Bank

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