Hungary Commemorates 30th Anniversary of Stock Exchange After Fall of Communism

By Coin & Currency Institute ……
 

The National Bank of Hungary (Magyar Nemzeti Bank) is issuing a silver collector coin with a face value of 10,000 forints and a copper-nickel version of 2,000 forints to mark the 30th anniversary of the re-establishment of the Budapest Stock Exchange. By reopening the stock exchange, one of the fundamentals of a competitive, innovative economy was re-established in Hungary after decades under communist rule.

As a successor of the first stock exchange in Hungary established over 150 years ago, in 1864, the Budapest Stock Exchange (BÉT) plays a key role in the capital markets of Hungary and the Central-European region. Due to the strong development after the re-establishment 30 years ago, the BÉT has become one of the most innovative markets in the region. As a central agent in the Hungarian money and capital markets, it offers economic agents opportunities to raise funds, and provides a wide range of investment facilities to investors.

The two versions of the coin have the same design, with their denominations being the only difference. Both coins were designed by applied artist Zoltán Endrődy.

On the obverse of the coins, in the center, the most important index of stock exchange developments is shown. A line chart, displaying the changes in the BUX index, relative to international trends, is found in the middle surrounded by a line. Highlighted years refer to the most crucial events in the history of the stock exchange since it was reopened. Behind the line chart, a world map created from downward and upward arrows is seen, representing fluctuations in economic growth. In the outer ring, at the top, the key values of the BÉT are placed: ʻNÖVEKEDÉS • GYARAPODÁS • FENNTARTHATÓSÁGʼ (rise • growth • sustainability).

The reverse presents how stock exchanges typically operate. The Budapest Stock Exchange’s emblem, a bell, is featured symbolizing the opening of trading at the exchange. This serves as a way of celebration when a security is quoted in the market. The BÉT’s logo is at the bottom. Representing stock exchange trends are a bull, symbolizing an upward path of the market, and a bear, for one that is falling. These are placed on the left and on the right on two separate horizontal lines. The visualization of growth and recession is further highlighted by the bull’s dense representation and the bear’s composition of line art.

Both collector coins have a diameter of 38.61 mm with reeded edges. The silver coin, with a face value of 10,000 forint is struck in .925 fine silver and weighs 31.46 grams. It costs $67.50. The non-ferrous metal 2,000 forint is produced from an alloy of copper (75%) and nickel (25%) and weighs 30.8 grams. It is priced at $19.95. The mintage limit of both the silver collector coin in proof finish and that of the non-ferrous version in BU finish is 4,000 pieces of each.

To order, or for more information on these and other coins of Hungary, contact the Hungarian Mint’s North American Representative at P.O. Box 399, Williston, VT 05495. Toll-free: 1-800-421-1866. Fax: 802-536-4787. Email: mail@coin-currency.com, or click on the Hungarian flag at www.coin-currency.com for secure website ordering. Add $5.75 to each order for shipping and handling in the U.S.A. Shipping to other countries will be based on actual cost. Vermont residents add 6% sales tax. Those desiring to receive information and photographs electronically on a regular basis can provide their email address to mail@coin-currency.com.
 

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