Production of banknotes and coins

In order to achieve greater transparency, the Magyar Nemzeti will publish the production costs of forint banknotes and coins by denomination, as well as the annual cost of producing banknotes and coins

Which companies are involved in the production of forint banknotes?

Forint banknotes are produced to the order of the Magyar Nemzeti Bank by the Hungarian Banknote Printing Company, an enterprise wholly owned by the MNB. Special banknote paper required for printing forint banknotes is produced by the Diósgyőr Papermill, a wholly owned subsidiary of the Hungarian Banknote Printing Company. Both organisations have long been involved in the production of forint banknotes. The Diósgyőr Papermill, Hungary’s oldest paper mill in operation, has over 200 years of tradition. The Hungarian Banknote Printing Company has been producing banknotes since the 1920s and, obviously, the very first forint banknotes were printed there. The Diósgyőr Papermill and the Hungarian Banknote Printing Company were reconstructed in the first part of the 1990s, as a result of which the new series of forint banknotes have been produced using advanced materials and new, state-of-the-art technology and procedures.

Where are forint coins minted?

Forint coins are produced to order of the Magyar Nemzeti Bank by the Hungarian Mint, an enterprise 100% owned by the MNB. The Mint has been minting coins since the 1920s and, therefore, the very first forint coins were also struck here. Prior to the complete replacement of circulation coins in 1993, the Mint underwent a large-scale investment and restructuring programme in the early 1990s

1) VAT is at 25%.

2) Prices of circulation coins have changed in the course of the year because of a change in the price of blank for striking coins (which was influenced by non-ferrous metal prices and the exchange rate).