20 Đồng

Emittent	Ngân hàng Quốc gia Việt Nam
Jahr	1948
Typ	Standard circulation banknote
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Rückseitenbeschreibung	The reverse is printed in olive-green tones and displays a central portrait vignette of Ho Chi Minh within a wreath of laurel branches, surrounded by radiating guilloche lines. Allegorical figures are placed at the left and right margins, with a lower band containing a panoramic scene of laborers and agricultural workers in a narrative frieze. The denomination numeral 20 appears at the upper left and upper right corners, with the issuer inscription along the top edge.
Rückseitenlegende	VIET NAM DAN CHU CONG HOA 20
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Anmerkungen	The Ngân hàng Quốc gia Việt Nam — the National Bank of the Democratic Republic of Vietnam — was established in 1951, which creates an immediate problem: any note attributed to this issuer dated 1948 warrants scrutiny. The DRV did issue currency from 1946 onward through the Ngan Hang Viet Nam, but the "Quốc gia" designation and institutional structure postdate this note's year. Pick 49 may reflect a cataloging inconsistency that has persisted across editions. Printed domestically under wartime conditions against the French, production quality varied considerably across the series.