Catalog
| Issuer | Government of the Democratic Republic of Vietnam |
|---|---|
| Year | 1946-1948 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | A framed portrait of President Hồ Chí Minh occupies the left-centre field, rendered in fine line engraving within a rectangular border. An industrial vignette with factory smokestacks appears to the right of the portrait, accompanied by a block of Vietnamese legal tender text. The denomination NĂM ĐỒNG is stated at upper right, with multilingual value inscriptions in Khmer, Lao, and Chinese characters arranged vertically at right, and the full state title in Chinese reading right-to-left along the bottom margin. |
| Reverse lettering | GIẤY BẠC VIỆT-NAM NĂM ĐỒNG ៥ រៀល ໕ ຫຼຽນ 五 元 越南民主共和 (Translation: Vietnamese Banknote, Five Đồng, Five Riels [Khmer], Five Hưa [Lao], Five Yuan [Chinese], Democratic Republic of Vietnam) |
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| Comments |
The Democratic Republic of Vietnam issued its first independent currency in late 1946, just weeks after the outbreak of the Franco-Vietnamese War. These earliest notes were produced under extraordinarily difficult conditions — the nascent government lacked access to sophisticated printing infrastructure, and production shifted between locations as French military pressure intensified. The result is a series with considerable variation in paper quality, ink consistency, and watermark clarity across surviving examples.
Pick 4 is among the first emissions of a government that had existed for barely a year when it began issuing its own currency to replace colonial piastres — a deliberate act of economic separation from French Indochina's monetary system.