200 Ðồng

The National Bank of Vietnam's reliance on Thomas De La Rue for this series reflected a practical reality: South Vietnam lacked the secure printing infrastructure to produce its own currency, making every shipment from London a logistical and political vulnerability during an active war. By 1972, inflationary pressure was already eroding the đồng's purchasing power, and higher denominations like this one were entering circulation precisely because smaller notes had become inconvenient for ordinary transactions.

Pick 32 is moderately scarce in genuinely circulated grades — wartime handling was rough, and the 1975 reunification rendered the entire South Vietnamese currency series worthless overnight, meaning most survivors are either hoarded uncirculated stock or heavily worn.