| Popis líce |
Printed in black with red serial numbers, the obverse is centred on a vignette of a farmer threshing grain at left, accompanied by an ornamental guilloche underprint with denomination rosettes. A large numeral "1" occupies the right portion of the note, flanked on either side by the split serial number, with a signature appearing below the large denomination figure. |
| Opis líce |
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| Popis rubu |
Printed in black, the reverse carries a vignette of a farmer working in a rice paddy, positioned at right and facing left, set against an ornamental guilloche underprint with denomination rosettes. The anti-counterfeiting legal warning and printer's imprint appear as border inscriptions. |
| Opis rubu |
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| Podpisy |
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| Typ ochrany |
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| Popis ochrany |
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| Varianty |
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The National Bank of Vietnam was established in 1951 under the Associated State of Vietnam, still nominally within the French Union. By 1955, with the Geneva Accords having partitioned the country and Ngô Đình Diệm consolidating power in the south, a distinct southern monetary identity became a political necessity. This note belongs to that transitional moment — issued under the same bank name but into a fundamentally different political reality than the institution's founding circumstances.
Security Banknote Company of Philadelphia produced work for a number of newly independent or reorganizing states during this period. The attribution here carries a question mark, which is worth noting — provenance for SBNC-printed Vietnamese material from the mid-1950s is not always clean in the literature.