Thuan D. Luc
Republic of Vietnam: coins and Currency, Howard Daniel III
Collection is courtesy of:
Bao Tung Nguyen

The Geneva Agreement signed in 1954 has concluded the French colonization of the Indochinese peninsula. The 17th latitude was designated as border of two regions: North and South Viet Nam. In the South, the first republic was established by Ngo Dinh Diem when he was elected president on October 26 1955. The second republic was established by Nguyen Van Thieu when he was elected president on September 3 1967. For numismatists, the period of 40 or 50 years isn't long enough for a formerly, largely circulated paper notes to become scarce. However, a number of paper notes in these two republics, for some reason became interesting objects/subjects.

$1000 BANKNOTES: 1,000 samples of this paper note were printed out, but the handy notes were never issued.

$200 BANKNOTES: 17,500,000 of this paper note were printed and issued in South Viet Nam; however these paper notes aren't relatively available for collectors. According to a reliable source, President Diem ordered the recall after reviewing the design. In his knowledge, there isn't any state with design of combat soldiers on its paper notes.

$500 BANKNOTES: The 2 types of $500 paper notes, one with picture of Thien Mu Pagoda and other with picture of Independence Palace, which issued during the first republic were recovered on August 21 1964. The recall was dued to a large number of counterfeits were in circulation. Totaled of 5,599,000 old paper notes were returned for new ones. The replacement note has a picture of the Museum.


$5000 and $10000 BANKNOTES: The economic situation in South Viet Nam declined after the withdrawal of the Allied forces. Inflation pressure was overwhelming during 1973 and 1974. Public opinion vehemently opposed when the government planned to circulate $5000 and $10000 paper notes. The National Bank had printed 46 million $5000 paper notes with picture of a leopard head and 24 million $10000 paper notes with picture of a cow head. According to a friendly source, 2 months before the historical event of April 30 1975, these paper notes were issued to pay salaries to high level functionaries, to use in bank transactions, and to distribute to local banks. Few number of these paper notes still can be found in numismatists' circles dued to already circulated ones and possibly stolen ones when the banks were plundered during their transitions.

$1000 BANKNOTES: The last paper notes of the second republic was the $1000 paper notes bearing the patriot Truong Cong Dinh's picture. This paper note was only sample and never issued. According to a friendly source, the issuance of this paper note had been planned before the above-mentioned $5000 and $10000.
Thuan D. Luc