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20 Ðồng

Issuer Ngân hàng Quốc gia Việt Nam (National Bank of Vietnam)
Year 1948
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Reference(s) P#24
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Obverse lettering VIỆT NAM DÂN CHỦ CỘNG HOÀ
HAI MUOI DONG
20
ÐỒNG
CHỦ TỊCH HỒ CHÍ MINH
GIÁM ĐỐC NGÂN KHỐ TRUNG ƯƠNG
BỘ TRƯỞNG BỘ TÀI CHÍNH
KIỂU LOẠI
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Reverse lettering GIẤY BẠC VIỆT NAM
HAI MƯỜI ĐỒNG
20
貳拾元
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Comments

P#24 belongs to the earliest emission of the National Bank of Vietnam, established in 1951 — but this 1948-dated note predates that institution, placing it instead under the Democratic Republic of Vietnam's first financial apparatus, operating under extraordinarily primitive wartime conditions. Printing was done domestically while the Việt Minh government was fighting French forces, which meant facilities moved constantly to avoid aerial targeting. Production quality varies dramatically within the series as a direct result.

Notes from this period are frequently found with uneven ink strike and rough guillotine cuts — not damage, but the original output of presses that were never meant to be permanent.

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