50 000 Kip Voronezh

Voronezh is a Russian city some 500 kilometers south of Moscow, and its appearance on a Laotian commemorative requires explanation: this coin belongs to a sprawling series issued by Laos — and several other small nations — through intermediary minting agencies that license city and landmark themes with no meaningful connection to the issuing country. The Bank of the Lao PDR has issued dozens of such pieces, effectively renting its sovereign authority to produce collectibles for the international numismatic market rather than domestic circulation.

KM# 137 was almost certainly struck at a European facility, most likely in Germany or Austria.