10 000 Kip Horse drawing

Laos issued this piece under the Banque Nationale du Laos at a moment when the kip had lost catastrophic value following the 1997 Asian financial crisis — the currency shed roughly 85% against the dollar between 1997 and 1999. Gold collector issues denominated in kip from this period carry face values that are largely symbolic, the nominal figure bearing no meaningful relationship to bullion content or market reality.