50 Kip Overprint on 500 Kip

Features

Issuer Laos
Type Standard banknote
Year 1979
Value 50 Kip
Currency Pathet Lao Kip (1968-1979)
Composition Paper
Size 168 × 84 mm
Shape Rectangular
Demonetized Yes
Number
N#
210935
References P# 24A
Tracy L. Schmidt (editor); 2019. Standard Catalog of World Paper Money. Modern issues 1961-present (25th edition). Krause Publications, Iola, Wisconsin, United States.
And 2 more volumes.

Obverse

Lao text; armed farmers harvesting rice in paddy; factory with smokestacks; water buffalo.

Reverse

Lao text; soldiers with rifles and anti-aircraft guns shooting fighter jets over the Plain of Jars in Xieng Khouang; Wat That Luang stupa in Vientiane

Watermark

Wat That Luang stupa.

Comments

There are different stories about this banknote:

Private overprint on P#24. According to Bank Note Museum (http://banknote.ws/COLLECTION/countries/ASI/LAO/LAO0024A2.htm):

These notes were produced by a coin and stamp dealer in Vientiane who was in need of cash for moving to France.
So he had the idea to revalue the cheap 500 Kip notes. Due to legal reasons the overprint was not applied in Laos, but in a printery in Nongkai (just opposite Vientiane in Thailand). The first notes he sold to a dealer in Bangkok for about 25$ each.
After having moved to France, he continued selling these notes in his kiosk on a marketplace in Paris at a far higher price. He always had with him only one piece and declared it to be "very rare".

And
Overprint on P#24 According to Howard A. Daniel III
(https://www.theibns.org/joomla/index.php?option=com_content&view=article&id=629:howard-daniel-iii-2017&catid=30:hall-of-fame&Itemid=177)
(https://www.coinbooks.org/v21/esylum_v21n08a20.html)

A European claims to have had these notes overprinted In Thailand, but the author (Howard A. Daniel III) believes this note was overprinted in Vientiane because at least one collector acquired his note from the Bank of Lao POR in Vientiane

See also

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Date VG F VF XF AU UNC
ND (1979)  Photo a; Prefix CN. Unissued

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Past sales

Pictures Sale Date Grade Sold price
Picture 1 of a sold 50 Kip (Overprint on 500 Kip)Picture 1 of a sold 50 Kip (Overprint on 500 Kip)
Katz
Auction 95
Lot 100
Internet Archive
16 Sep 2023 UNC USD 62.73
(EUR 58.00)
(+ buyer's premium)
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