The Hungarian National Bank changes forint coins

August 16, 2017

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Photo: Flickr/George Venios

The Hungarian National Bank is gradually changing forint coins in accordance with Hungary’s change of official name, reports Napi.hu.

Since Hungary’s new constitution adopted in 2012 changed the country’s name from “Hungarian Republic” to simply “Hungary”, the Hungarian National Bank (MNB) has been gradually changing both notes and coins to portray the new name.

Napi.hu contacted the MNB to find out how many new coins are in circulation. According to the bank’s July 31 data, currently there are some 3.2 million 100-forint coins in circulation with “Hungary” written on them. Based on MNB’s answer, the highest number of “Hungary” coins is the 5-forint: 142 million.

Coins with “Hungarian Republic” on them will remain in circulation with no plan to withdraw them any time soon. The MNB initially estimated that changing the text on all coins would cost HUF 5 million (USD 19,300) including design and new press manufacturing, however the exact cost has not been disclosed to the public.