The 100 Quintillion Pengo: The Highest-Denomination Note Ever Issued
In July 1946 Hungary issued a note worth 100 quintillion pengő, a one followed by twenty zeros. Guinness World Records lists it as the highest-denomination note ever circulated, and it lasted only weeks before the pengő itself was abolished.
Last updated: July 2026
The Hungarian 100 million b.-pengő note of 1946, equal to 100 quintillion pengő, is the highest-denomination banknote ever issued, per Guinness World Records. Released at the peak of the worst hyperinflation ever documented, its face reads SZÁZMILLIÓ B.-PENGŐ rather than twenty zeros of digits. Here is what that strange unit means and how collectors own the record today.
What is the 100 quintillion pengő note?
The final banknote of Hungary's pengő era. Dated June 3, 1946, it entered circulation on July 11, 1946 as the Magyar Nemzeti Bank's last pengő issue and was withdrawn on July 31, 1946 (dates per Guinness World Records). The face shows a woman in Hungarian folk dress beside the national coat of arms, the back shows the Parliament Building on the Danube, and catalogs list it as Pick 136. Nothing about it announces a world record; it is ordinary, hurried 1940s printing.
What does b.-pengő actually mean?
The "b." stands for billió, and this is where English speakers get tripped. Hungarian uses the long scale, in which a billió is a million million, or 1012, the number American English calls a trillion. One b.-pengő, informally a bilpengő, is therefore one trillion pengő, and 100 million b.-pengő multiplies out to 1020: one hundred quintillion. Hungary had already introduced the milpengő, one million pengő, so notes could shed six zeros; when milpengő figures became unreadable in turn, the bank jumped to the b.-pengő, one million milpengő.
| Unit or note | Value in pengő | Zeros |
|---|---|---|
| Pengő | 1 (base currency, introduced 1927) | 0 |
| Milpengő | 1,000,000 | 6 |
| B.-pengő (bilpengő) | 1,000,000,000,000 | 12 |
| 100 million b.-pengő (the issued record note) | 100,000,000,000,000,000,000 | 20 |
| 1 milliard b.-pengő (printed, never issued) | 1,000,000,000,000,000,000,000 | 21 |
Naming note: Guinness World Records calls this the "million billion pengő" note, long-scale wording for the same 1020.
Was an even bigger note printed?
Yes. The Magyar Nemzeti Bank also printed a one milliard b.-pengő note, equal to one sextillion pengő, a one followed by twenty-one zeros. It never entered circulation: the reform that introduced the forint arrived first, so the stock never left the bank, and surviving examples are collected as unissued notes.
How fast was the hyperinflation behind it?
Faster than any other episode ever documented. In July 1946 Hungary's monthly inflation reached 41.9 quadrillion percent, a daily rate of 207 percent, with prices doubling roughly every 15 hours (Hanke-Krus World Hyperinflation Table, Cato Institute). Zimbabwe in 2008 and Weimar Germany in 1923 do not come close. The full story of the collapse is on our Hungary 1946 hyperinflation page, and every other episode is ranked on every hyperinflation ranked.
What happened to the pengő?
Hungary abolished it. On August 1, 1946 the forint replaced the pengő at 400 octillion pengő to one forint, a 4 followed by 29 zeros, under the Hungarian National Bank's stabilization. At that rate the record note's entire face value converted to a negligible fraction of a single forint. The reform held, the forint remains Hungary's currency today, and the record note has had no monetary value for eighty years, which is exactly why it survives as a pure collectible.
Can you own the highest-denomination note ever issued?
Yes. The note was demonetized rather than redeemed, so genuine examples survive in quantity, in every condition from heavily worn to crisp Uncirculated, and pieces certified by PMG or PCGS appear regularly. Our banknote grading guide explains those grades, and our counterfeit-spotting guide covers the basic checks.
Frequently asked questions
What is the highest-denomination banknote ever issued?
The Hungarian 100 million b.-pengő note of 1946, equal to 100 quintillion pengő, a one followed by twenty zeros. Guinness World Records lists it as the highest denomination ever put into circulation.
How many zeros does the 100 quintillion pengő note have?
Twenty, though none are printed on the note. The face reads SZÁZMILLIÓ B.-PENGŐ, one hundred million b.-pengő, and since one b.-pengő equals one trillion pengő, the value is 100,000,000,000,000,000,000 pengő.
What does b.-pengő mean?
The "b." stands for billió, the Hungarian long-scale billion, equal to a million million, an American trillion. One b.-pengő is one trillion pengő, so 100 million b.-pengő equals 100 quintillion pengő.
Why was the one sextillion pengő note never issued?
The currency reform overtook it. Hungary introduced the forint on August 1, 1946 and abolished the pengő before the one milliard b.-pengő note, worth one sextillion pengő, was released. Surviving examples are unissued notes held by collectors and institutions.
Is the 100 quintillion pengő note valuable today?
It has no monetary value, since the forint reform retired the pengő, but it is a popular and generally affordable collectible. Prices depend on condition and third-party grading rather than face value.
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