#BUDAPEST INFO #Magazine /

The history of the Golden Train and the birth of the forint come to life in the Money Museum’s new exhibition

Eighty years after the introduction of the forint and the return of Hungary’s gold reserves, a new temporary exhibition has opened at the Hungarian Money Museum and Visitor Center. The exhibition, titled “The Legacy of the Gold Train—The Rebirth of Hungarian Money,” not only marks the end of one of the most severe episodes of hyperinflation in world history but also tells a story of extraordinary courage.

There are few stories in Hungarian economic history that speak simultaneously of heroic resilience, financial stability, and national unity. The Hungarian Money Museum and Visitor Center’s new temporary exhibition, The Legacy of the Golden Train – The Rebirth of Hungarian Currency, recalls this little-known chapter on the occasion of the 80th anniversary of the introduction of the modern forint and the return of Hungary’s gold reserves.

The exhibition centers on the Hungarian National Bank’s legendary “Golden Train.” In the final months of World War II, central bank employees and their family members evacuated the country’s gold reserves under extraordinary circumstances to prevent them from falling into foreign hands as war booty. In addition to nearly 30 metric tons of gold packed into 600 crates, they also took banknotes, valuable documents, and other national treasures with them.

The long and dangerous journey ultimately led to the Benedictine monastery in Spital am Pyhrn, Austria, where the Hungarian gold reserves were safeguarded for months. The bank officials, together with their families, safeguarded the national treasure while also having to contend with the uncertainty of the war’s final months, bombings, food shortages, and a harsh winter.

The exhibition also illustrates how the gold reserves eventually came under U.S. supervision before being returned to Hungary in August 1946. The returned gold reserves played a key role in stabilizing the forint, the new currency introduced on August 1, thereby bringing to a close one of the most severe periods of hyperinflation in world history.

This extraordinary story is told through some eighty artifacts on display. Among the highlights are the Mint’s guestbook from the 1946 relaunch, a copy of a letter written by the central bank’s branch in Spital am Pyhrn to U.S. authorities, and a 100-forint banknote featuring a portrait of Kossuth, which already evokes the era of stabilization.

A particularly striking exhibit is the one-billion-billpengő banknote sheet, which vividly illustrates the staggering scale of hyperinflation prior to the introduction of the forint. The historical documents are complemented by railway interiors, period newsreels, video interviews, and interactive museum educational elements, allowing visitors not only to learn about historical events but also to experience the atmosphere of the Golden Train’s unique story. The exhibition also pays tribute to the professionals at the Hungarian National Bank who, under wartime conditions and at the risk of their own safety, safeguarded the country’s gold reserves. Without their decisions and perseverance, postwar economic stabilization and the successful introduction of the forint would have been far more difficult.

The temporary exhibition at the Hungarian Money Museum and Visitor Center is free to visit. The exhibition offers an exciting journey through time not only for those interested in finance but also for anyone who would like to learn more about one of the most important historical turning points in modern Hungary.

Would you like
to read more?

The history of the Golden Train and the birth of the forint come to life in the Money Museum’s new exhibition

Eighty years after the introduction of the forint and the return of Hungary’s gold reserves, a new temporary exhibition has […]

#BUDAPEST INFO #Magazine /

Hungary is also a host country: the International Romani Song Day is being held for the fifth time

On August 8, International Romani Song Day will be held for the fifth time; this year, it will welcome audiences […]

#BUDAPEST INFO #Magazine /

Budapest Fills with Street Music – A New Festival Makes Its Debut in the Capital’s Iconic Squares

Music will fill the capital for six days across ten venues in Budapest: this year marks the first edition of […]

#BUDAPEST INFO #Magazine /