The definitive stamps of Hungary during this period reflect the end of the Hungarian Soviet Republic and the period of post-war hyperinflation in Europe.
The hyperinflation that began in Germany during 1922 quickly spread to many neighboring European countries. The hyperinflation in Hungary from 1922 to 1924 was not quite as bad as
that of Germany. The highest denomination Hungarian postage stamp of
this period was ten thousand Korona, whereas the highest denomination German postage of
the same period was fifty billion Marks.
The hyperinflation did
have a lasting effect on the stability of the Hungarian Korona though.
At the beginning of 1927, the Korona was finally abandoned, and it was replaced
by the Pengo, which would remain the currency of Hungary until after
World War II.
The twenty overprinted definitive stamps of Hungary shown above were defaced with an obliteration marking on January 20, 1920, as a testimonial to the end of Communist rule in Hungary. These stamps are typographed on paper with WMK 137, and they are perforated 15.
These stamps of Hungary were originally overprinted MAGYAR / TANÁCS / KÖZTÁRSASÁG or HUNGARIAN REPUBLIC OF COUNCILS in red. The obliteration markings, in black, consisted of a bundle of wheat ears, symbolic of hope and prosperity, bound together by a ribbon inscribed 1919.
On January 20, 1920, Hungarian citizens cast the first secret ballots in the country's history, electing a counter-revolutionary and agrarian majority to the parliament.
The catalog attributes are as follows:
The twenty-nine Harvesting-type stamps of Hungary shown above were reissued between 1920 and 1924 for the Kingdom of Hungary. These are the first of the Hungarian hyperinflation period stamps. These stamps are typographed on paper with WMK 137, and they are perforated 15.
The designs feature the return of the inscription MAGYAR KIR POSTA or HUNGARIAN ROYAL POST. The higher denominations do not have inner frame lines in the denomination tablets.
The catalog attributes are as follows:
The fourteen Parliament-Building-type stamps of Hungary shown above were re-issued between 1920 and 1924. These stamps are typographed on paper with WMK 137, and they are perforated 14.
The designs feature the return of the inscription MAGYAR KIR POSTA or HUNGARIAN ROYAL POST. The higher denominations have colored instead of white numerals.
The catalog attributes are as follows:
The ten pictorial definitive stamps of Hungary shown above were issued between 1921 and 1925. They are all perforated 12.
Their common design features the Madonna and Child. The Virgin Mary is wearing Saint Stephen's Crown and is holding the royal orb and scepter. Around the image is the Latin inscription "PATRONA HUNGARIAE" meaning "DEFENDER (PATRON SAINT) OF HUNGARY".
The catalog attributes are as follows:
The 5,000 Korona denomination Madonna and Child pair shown above (Sc. #386a) is one of the greatest rarities of all the postage stamps of Hungary. This pair sold in the Spink Shreves Galleries sale of June 18, 2009 for $37,500.00!
The nine Harvesting and Parliament-Building-type stamps of Hungary shown above were issued in 1924. These stamps of Hungary are typographed on paper with WMK 133, and they are perforated 15 or 14 1/2 x 14.
The catalog attributes are as follows:
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Definitives of 1920-1924