Inflation was so bad in Hungary in January 1946 that they overprinted these ones to show the purpose of the stamp and sold them at the correct rate for the day. This one has "Hl 1" and the "Hl" is short for "Helyi tevél"or "Local letter".
Inflation continued to get worse and in July 1946 Hungary issued one stamp with a face value of 500 thousand million million pengos!
Stamp overprint from 1943-45 "HI. I." defined as "HI" or "Helyi level" = Local Letter. Yours would be Scott #804 issued in 1946, overprinted in Carmine.
Holey moley, that is a lot of pengos.Have you ever seen one of those stamps/How would you abreviar=te on a stamp. Many thanks to nigrlc and wt1 for the great info. David
That;s really a nice looking stamp. I would like to find one on a cover. That would be a nice addition to my collection. it sure is hard to understand a number that large isn't it? Thanks again david
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