500 Kip 2020 Olympic Games, Tokyo

Laos has no Olympic tradition to speak of — the nation first competed at the Games in 1980 and has never won a medal — making this a purely commercial issue aimed at the collector market rather than any expression of national athletic achievement. The Bank of the Lao PDR has produced a consistent stream of licensed commemorative silver in this weight and fineness since the 1990s, nearly all of it destined for European and Asian coin dealers rather than domestic circulation.