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50 Ðồng
| Issuer | National Treasury of Vietnam (Nha Ngân Khố Quốc Gia) |
|---|---|
| Year | 1947 |
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| Shape | Rectangular |
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| Obverse description | A central oval vignette carries a portrait of President Ho Chi Minh facing slightly left, enclosed within guilloche decorative borders. The denomination NĂM MƯƠI ĐỒNG appears to the right of the portrait, flanked by Chinese characters 元拾伍 at right and script numerals at left. Below the portrait, two facsimile signatures appear — the Director of the Central Treasury (Giám Đốc Ngân Khố Trung Ương) at left and the Minister of Finance (Bộ Trưởng Bộ Tài Chính) at right — with a government decree text printed at upper left. |
|---|---|
| Obverse lettering | VIET NAM DAN CHU CONG HOA NĂM MUOI ĐÔNG 50 GIÂY BAC VIÊT NAM 50 元拾伍 |
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| Comments |
The Nha Ngân Khố Quốc Gia — the National Treasury, not a central bank in the conventional sense — issued this note during the first year of active French military operations against the Democratic Republic of Vietnam. Printing infrastructure was improvised and dispersed across the north, partly to prevent French forces from capturing the entire supply. That origin explains the inconsistency in paper quality and impression sharpness that collectors encounter across surviving examples of this series.
P#11 is among the scarcer denominations from 1947. The war's early disruption of distribution networks meant many notes never reached general circulation at all.