1 piastre= 1 dong 1954

common. The eBay price data provided shows consistent sales across multiple grades and decades, with raw examples trading in the $3-$20 range depending on condition. PMG 67 EPQ examples have sold in the $53-$95 range (2022-2023), with one PMG 68 reaching $204.50. The volume of sales data and the wide distribution of grades across decades indicates a readily available note in the market. While PMG 67 EPQ represents a premium condition grade that commands higher prices, the underlying note itself is not a scarce issue—it was issued in regular quantities by the successor state authorities in 1954 and examples survive in considerable numbers.

This note was issued in 1954 by the Institut d'Emission des Etats du Laos et du Vietnam during the waning days of French Indochina, just as the region was transitioning toward independence following the First Indochina War. The reversal imagery depicting ceremonial or mythological figures in ornate dress reflects the Vietnamese cultural and artistic traditions being reasserted as the territory moved toward autonomous governance. The bilingual French/Vietnamese text and tiger head watermark symbolize the hybrid colonial-indigenous character of this final series before the complete establishment of independent Vietnamese monetary authority.

The obverse features blue and green coloring in a design similar to picks P-94 and P-100 of the same series. The reverse displays a red/rust and blue color scheme centered around an ornate ceremonial or mythological scene with traditional Southeast Asian architectural elements, including an elaborate temple or ceremonial building with decorative Buddhist or traditional finials. The composition is framed by intricate ornamental border patterns typical of 1950s banknote engraving. The central vignette depicts figures in ceremonial dress in formal poses within an architecturally elaborate setting, reflecting Vietnamese cultural iconography. The note employs a thin white or white/tan paper stock with detailed engraved security features including ornamental borders and fine line work throughout.

OBVERSE: '1 Piastre = 1 Dong' (English/French text). REVERSE: 'VIỄN PHÁT HẠNH' (Vietnamese: 'Distant Prosperity' or 'Good Fortune'), 'MỘT ĐỒNG' (Vietnamese: 'One Dong'), 'ĐÔNG' (Vietnamese: 'Dong'). Additional Vietnamese legal issuance text regarding official status and authorization of the note. CERTIFICATION LABEL: 'Pick# 105 ND (1954) 1 Piastre = 1 Dong', 'S/N W23 43934 - Wmk: Tiger's Head - Sign. #21', 'PMG 67 EPQ', 'Superb Gem Unc' (Uncirculated).

Intaglio engraving (traditional banknote printing method), evidenced by the fine detail, sharp line work, and multi-color registration visible in both the ornamental borders and the central vignette. The note exhibits the characteristic qualities of high-quality security printing from the mid-20th century, with careful color separation and precise alignment of multiple printing passes. Printer information for this specific Pick number is not definitively recorded in standard references, but the quality suggests work by a European security printer, potentially Banque de l'Indochine's contractors.

Serial number W23 43934 with Signature #21. The prefix 'W23' and specific signature identification indicate this is Signature Variety #21 of the P-105 note. No significant overprints or date variations are noted. The tiger head watermark is consistent with the standard security feature for this pick number. Standard varieties for this issue are primarily differentiated by signature block (signature authorities varied), and this example represents one of the documented signature states.