Collector coin issuance to honour Hungary’s oldest research institute: Geological Institute of Hungary collector coins

The Magyar Nemzeti Bank will issue special, rectangle-shaped silver and non-ferrous metal collector coins to mark the 150th anniversary of the existence of Hungary’s oldest research institute, the Geological Institute of Hungary. The construction of Art Geo Palace, declared a monument, was completed 120 years ago, which presents another opportunity for issuing the HUF 10,000 and 2,000 denomination collector coins. The collector coins were designed by DLA sculptor László Szunyogh.

The MNB will issue a silver collector coin of HUF 10,000 and its HUF 2,000 non-ferrous metal version named ‘Geological Institute of Hungary’ on the double anniversary. The primary role of collector coins is to educate and pay tribute, therefore they are not to be used in everyday payments. Their face value serves to preserve the value the coins represent to collectors.

With the collector coins to be issued today the Bank aims to call public attention to Hungary’s oldest research institute, and the significance of the work it does. The institute founded in 1869 bears the name of Mining and Geological Survey of Hungary today and offers independent, authentic professional assistance to legislation, the national administration and the local governments in the area of geology, geophysics, mining and climate policy. Its activities include the promotion of sustainable management of Hungary’s mineral resources and waters, the research into the geological implications of energy sources and the analysis of the geological processes inside the Earth. The Institute gives priority to the professional cooperation with the countries in the Carpathian Basin and other countries in Europe.

The collector coins also direct the attention to Ödön Lechner’s heritage, as the Art Geo Palace is Lechner’s one of the most mature works, an example of the national architectural style. Built as the main building of the Geological Institute of Hungary, the decorative elements of the Palace partly feature folk and geological motifs making a clear reference to the subject matter the Institute examines. The construction of the building, now under protection, was completed 120 years ago.

The collector coins were designed by DLA sculptor László Szunyogh. The silver and the non-ferrous metal versions have the same design, the only difference being their denominations.

The selected motifs on the obverse refer to the double anniversary. On the front side of the collector coins, a part of the Mining and Geological Survey’s Art Geo Palace is shown as viewed from the Stefánia street, which was built on the basis of Ödön Lechner’s plans 120 years ago. In the foreground, the front of the building decorated with Zsolnay ceramics is shown, and in the background, the top of the roof is featured with figures of Atlas holding the globe. On the edge of the collector coins, the upper part features the lettering ‘MAGYARORSZÁG’, and below it, the denominations 10,000 or 2,000 and the lettering ‘FORINT’ is shown broken into two horizontal lines and aligned to the right. Below, inserted in the illustration, the master mark of DLA sculptor László Szunyogh, the designer of the coin, is shown.

The central motif on the reverse is an ammonoid fossil in limestone taking up two-thirds of the space at the bottom of the coin side. Ammonoid finds have outstanding characteristics to complete absolute dating, as their certain orders had a lifespan of 1-2 million years at most, their evolution was extremely fast in geological terms, therefore the age, when they lived, can be determined using their remains relatively easily. The identification of the fossil section representation is aided by the lettering ‘ammonitesz’ (ammonoid) running in a circle above the representation. In the upper third on the reverse the lettering FÖLDTANI / INTÉZET (Geological / Institute) is shown in three lines below one another, and the year 1869 referring to the foundation of the research institute. The additional design elements of the coins are placed on the lower part of the coin side embedded in the representation of the piece of rock: on the left, the mint year 2019, and on the right, the mint mark ‘BP.’.

Both coins are rectangle shaped in a portrait orientation (26.4 x 39.6 mm). Their edges are reeded. The silver coin with a face value of HUF 10,000 is struck in .925 fine silver and weighs 31.46 grams. The non-ferrous metal coin with a face value of HUF 2,000 is produced from an alloy of copper (75%) and nickel (25%) and weighs 27 grams. 5,000 pieces can be made of the silver collector coin in proof finish and 5,000 pieces of the non-ferrous version in BU finish.

To promote the collector coins' value transferring and educational role as widely as possible the Geological Institute of Hungary silver commemorative coin can be purchased for three months and the non-ferrous metal version for one year from the date of issuance, at their face value at the coin shop of Hungarian Mint Ltd. (Budapest, distr. V, 7 Báthory street) and in the webshop on the company’s website from 26 April 2019: https://www.penzvero.hu/, until stocks last.