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| 正面描述 | At right, an intaglio vignette portrays a young Indochinese woman in traditional dress, turned three-quarters to the left; at centre-left, a second intaglio vignette renders a temple pavilion set beside a body of water, both framed within an ornate guilloche border in orange. The denomination UNE PIASTRE is printed in red letterpress at the bottom centre, with the issuing authority legend in capital letters spanning the top margin. Designer and engraver credits — SÉB. LAURENT FEC. and HOURRIEZ SC. — appear in the lower margin. |
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| 正面铭文 | INSTITUT D'EMISSION DES ETATS DU CAMBODGE, DU LAOS ET DU VIET-NAM 1 LE CONTREFACTEUR SERA PUNI CONFORMEMENT AUX LOIS EN VIGUEUR UNE PIASTRE SÉB. LAURENT FEC. HOURRIEZ SC. |
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This note belongs to the final chapter of French monetary administration in Indochina, issued just as the three Associated States were moving toward full independence. The Institut d'Emission replaced the Banque de l'Indochine as the issuing authority in 1952 — a political concession to Cambodian, Laotian, and Vietnamese autonomy that stopped well short of genuine monetary independence, since Paris retained control of the currency mechanism through the new institute.
Hourriez's engraving work for the Banque de France atelier was technically accomplished; the red colorway on this denomination was a deliberate differentiator within the series. By 1955 the institute itself was dissolved as each state established its own central bank.