Introduction
According to the Treaty of Trianon and other treaties regulating the situation of countries emerging from the ruins of the dissolved Austro-Hungarian Empire, the former banknotes had to be overstamped by the new states and - after a given transition-period - replaced by a new currency. In the case of Hungary, this currency was the korona, which replaced its Austro-Hungarian counterpart at par. Hungary was the last country to fulfil the replacement obligation of the treaties and the stamps used for overstamping were very easy to copy, so a large portion of the common currency circulated in Hungary. This was a factor contributing to the process which finally led to a serious inflation. Finally, in 1925, the korona was replaced by the pengő at a rate of 12,500 korona = 1 pengő.
Read more about this topic: Hungarian Korona
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