Collector coin to honour Andrew I of Hungary

21 August 2023

The Magyar Nemzeti Bank is issuing collector coins named 'I. András király' (Andrew I. of Hungary) on the day following the holiday of the foundation of the state, with a face value of 500,000 forints in one ounce of gold, 15,000 forints in one ounce of silver and 3,000 forints as a non-ferrous metal version within the series of collector coins named ‘Országépítő királyok Árpád dinasztiájából’ (Nation-building Sovereigns from the Árpád Dynasty). Launched in 2021, the series aims to reconcile the different emphases of history as a science and historical public consciousness. Based on authentic motifs inspired by the period, the collector coins were designed by metal artist András Szilos. This exceptionally low mintage of 500 gold coins is the most valuable in this year's programme.

The coins commemorate Andrew I of Hungary (1046-1060), who restored the Christian Church during the turbulent period following the death of St Stephen, without the country becoming a dependant of the Holy Roman Empire. In addition, he earned the title of 'nation-builder' by sharing the power with his brother, Prince Béla. He ruled as a male descendant of St Stephen, establishing the respect of the founder of the state and adhering to his values. In 1055, he founded a Benedictine monastery in Tihany and issued charters as a manifestation of his sovereignty, including the charter of the Tihany Abbey, which is considered the first surviving Hungarian document in the original and the first reminiscence of the Hungarian language. The tomb of the monarch can be found in the abbey's crypt.

The ‘I. András király’ collector coins are the second in a series of coins named ‘Országépítő királyok Árpád dinasztiájából’, which is intended to present the most distinguished kings of the Árpád dynasty. The series focuses on 10 monarchs, with historical accuracy, and the Bank is scheduled to include a new addition every two years. In view of the thematic significance of the series, the Bank is issuing a collector coin in gold in an exceptionally small mintage of 500 pieces, but in order to promote education, the Bank is issuing a larger number of collector coins in silver and non-ferrous metal versions (5000-5000 pieces).

The collector coins of Andrew I of Hungary are considered to be legal tender, but they do not serve circulation purposes, their primary role is to educate, with the focus on the sovereignty of Andrew I and his most significant achievements. The gold, silver and non-ferrous metal versions have the same design, the only difference being their denominations in addition to the material they are produced from.

The obverse of the collector coins shows a representation of the obverse of the so-called second type silver denarius minted by the monarch, on a parchment-like surface evoking the establishing Charter of the Tihany Abbey. The inscription on the medieval coin, made using the stippling technique, reads ‘REX ANDREAS’, identifying the issuer and expressing the monarch's commitment to the restoration of Christian order by adding the cross motif. Minting is also the manifestation of the monarch's sovereignty. The obligatory elements of collector coins are featured around the central motif: the inscription ‘MAGYARORSZÁG’ (HUNGARY) in the upper legend, the denomination in two lines at the bottom, with the lettering ‘BP.’ on the left, and the minting year ‘2023’ on the right.

The obverse of the ‘I. András király’ collector coins

The reverse of the collector coins was inspired by the composition of the obverse, with the parchment-like surface of the establishing Charter of the Tihany Abbey - a depiction of the summoning seal of Andrew I, which provides an authentic source for the stylised representation of the monarch. On the parchment-like surface there is a representation of the ligature, merged initials of Andrew I's establishing Charter of the Tihany Abbey on the left, and the Latin inscription ‘REX’ (king) on the right. The name of the monarch ‘ANDRÁS I’ is found in a legend at the top, while the years ‘1046 - 1060’, indicating the period of his reign, are shown at the bottom, with the designer's mark of metal artist András Szilos, the designer of the coin.

The reverse of the ‘I. András király’ collector coins

At 34 mm, all three collector coins are identical in diamenter their edges are smooth with edge inscription. The circular legend on the smooth edges features the lettering on the royal summoning seal ‘ANDREAS DEI GRACIA VNGARIORUM REX‘ from the central motif of the reverse, which means: Andrew, King of the Hungarian people by the grace of God. The collector coin with a face value of HUF 500,000 is struck in .999 fine gold and weighs 31.104 grams (1 ounce). The collector coin with a face value of 15,000 forints is struck in .999 fine silver and weighs 31.104 grams (1 ounce), similarly to the gold version. The non-ferrous metal coin of 3000 forints is produced from an alloy of copper (90%) and zinc (10%) and weighs 23.40 grams. 500 and 5000 pieces will be minted from the gold and silver collector coins in proof finish, and 5000 pieces of the non-ferrous metal version in bronze-coated finish.

The collector coins are produced and distributed by the Hungarian Mint Ltd. In order to promote the role of these collector coins to transfer value and educate as widely as possible, the silver coin ‘I. András király’ will be available for purchase for three months, while stocks last, and the non-ferrous metal version of 3000 forints for one year from the date of issuance, at its face value in the webshop (https://www.penzvero.hu/) and coin shop of the Hungarian Mint Ltd. (Budapest, distr. V, 7 Báthory street), starting from the next day of the issuance, 22 August 2023. The opportunity to buy gold commemorative coins is coordinated by the Mint Ltd. through a draw supervised by a notary.