This listing is for the photographed 1962 N.D. South Vietnam 10 Dong Bank Note. This note was issued during the Vietnam War (1955-1975) in South Viet-Nam. Note is from series 1-A, a rarer, very low series number for these notes. The obverse of this note depicts a peasant couple facing right, holding tools and wheat. The reverse portrays the gate to the tomb of Lê Văn Duyệt at the center. Note is in good condition, with some discoloration and folds from age, as pictured. This note provides a fascinating history into Vietnamese history during the Vietnam war, making it a must have for any collection! P#5 (Pick Number 5).
South Vietnam introduced its own currency, the South Vietnamese đồng (VNĐ), after the partition of Vietnam in 1954, following the Geneva Accords. The National Bank of Vietnam was responsible for issuing banknotes and managing the currency. Early banknotes featured nationalistic symbols and imagery to assert South Vietnam's sovereignty during the beginning years of the nation. During the 1960s, as the Vietnam War escalated and U.S. military and economic aid poured into the country, the South Vietnamese government printed more currency to finance military expenses and counteract inflation. The economy became more dependent on U.S. dollars due to aid and military spending. In 1970, South Vietnam undertook a significant monetary reform to address rampant inflation. The government introduced a new version of the đồng, devaluing the old currency at a 10:1 ratio. This reform aimed to stabilize the currency, but inflation continued to be a problem throughout the war. By the early 1970s, the war was nearing its conclusion, and South Vietnam was facing economic collapse. The country continued to issue larger denomination notes to deal with hyperinflation, reflecting the instability of the economy as the war dragged on. The final series of South Vietnamese banknotes was issued in 1975, just before the fall of Saigon to North Vietnamese forces. These notes were rendered obsolete after the reunification of Vietnam in 1976, when the North Vietnamese đồng replaced the South Vietnamese đồng, and a unified currency was introduced.
This South Vietnamese banknote provides extremely interesting insights into the economics behind the Vietnam War era and the conflicts between the two Vietnams, making this note a must have for any collection!
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1962 South Vietnam 10 Dong Banknote - Peasant Couple Type - Low Series (1-A) - Vietnam War Era - 1962 South Viet-Nam Ten đồng Note - P#5