During the reign of Mátyás Hunyadi, starting in 1470, the minting of the first coins with Mátyás's name began on the decision of the parliament, which elected the young king. This marked the beginning of the minting of coins with the name of Mátyás, which can be divided into two major stages, the era of annual coinage and the era of permanent money. To make them easily distinguishable from each other, the medal image was changed every year and provided with different coats of arms. These so-called heraldic silver coins were minted between 1458 and 1467. After that, a huge reform took place in the field of Hungarian silver coinage, as a result of which Mátyás stabilized the Hungarian denarius currency for a long time. It was then that the so-called madonna coins appeared, which were coins with a permanent coin image and did not have to be redeemed every year, but remained in circulation for a long time. New coins were minted only when they were needed to make up for and supplement the lack of money in circulation. The permanent coinage continued until the end of Matthias's reign. During this period, silver coins were minted in three currencies: each denarius had an obule and a garasa. The essence of the reform was that Mátyás took the moneta maiort, the famous Sigismund-era silver coin, as a model, and minted valuable, high-quality silver coins. He eliminated the currency deterioration, and silver coins of a constant value were minted in all the country's mints, the exchange rate of which became 1 gold forint = 100 denars. They also minted the heavier silver coin, the garas, of which twenty pieces were sold for one gold forint. Mátyás' monetary reform stabilized monetary value relations for more than fifty years and consolidated the gold forint-denar exchange rate.