Saint Stephen I, the first Hungarian king, was born at the end of the 10th century or the beginning of the 11th century, as a member of the Árpád house. His father, Prince Géza, converted to Christianity. Stephen received a Christian upbringing from his mother, Princess Sarolt. After Géza's death, in 997, Stephen inherited the princely throne, and after long battles, he managed to unite the Hungarian tribes. During his reign, he carried out religious reforms and successfully Christianized the Hungarians. He reorganized the church organization and strengthened the rights and privileges of the church. Stephen also maintained close relations with the German-Roman Empire, and with the emperor's help he managed to strengthen his power. He created order within the territory of the country and established central power organizations, such as counties, bishoprics and bishoprics. In addition, he also placed great emphasis on the country's economic development. He established trade relations with the surrounding countries and regularized industry and agriculture. The ruler died in 1038. He was canonized after his death. Saint Stephen I had a great influence on Hungarian history and culture. He founded many churches and cultural institutions in the country.

Szent István, the first king of Hungary, considered minting extremely important in order to maintain the economic and political stability of the country. He established a mint in which quality silver coins were minted. The own monetary system contributed to the development of trade and the internal economy. In addition, the royal titles and symbols appearing on the coins strengthened the power of Saint István and the feeling of statehood. Coinage allowed for the display of royal power and the exercise of financial control. Szent István carefully supervised the mints, and he determined what coins should be minted and at what value. István's denars were probably minted in Esztergom or Székesfehérvár. The main currency of the era was the denar, half of which was also circulated as an obulus, both of which were made of silver. The weight of the denarii varied between 0.5 and 1.5 grams. Minting was exclusively the prerogative of the king (REX), although ducal (DUX) coins were produced in some cases.