When we plan a trip to new countries, few people think ahead and research how to properly manage their money in a new financial system. Vietnam has, of course, a unique culture and picturesque landscapes but also a special system of money payments, which may be unfamiliar to most tourists. So here you need to understand how the country's monetary system works, and which payment methods are the most convenient and safe to avoid unpleasant surprises and save time on currency exchange.
Today we would like to share with you information and recommendations on how to navigate the local financial system, what to consider when exchanging currency and what coins you should bring home as souvenirs. What is more, you can learn some financial security tips and how modern technology and apps like Coin ID Scanner (https://coin-identifier.com/) can help you as you handle your money (and in particular, your coins). After all, every little step in your travel preparations can make your trip enjoyable and safe.
History of Money Settlement in Vietnam: From Barter to Modern Payment Methods
Money is more than simply a means of exchange; it is also part of each country's cultural code. In Vietnam, as in many other countries, the history of money is closely linked to the development of trade and economy. In ancient times, Vietnamese people used barter: they exchanged rice, livestock and other goods. This was convenient, but as the population grew and trade developed, there was a need for a more universal way of settlement.
At first, bronze coins appeared in Vietnam, which were borrowed from Chinese traders. They were simple round disks with a hole in the center through which the coins were strung on a string. Later, Vietnam began to use more varied forms of coins and banknotes, which began to circulate widely in the economy, especially after the French Colonial period.
Over time, the Vietnamese came to create the modern currency, the dong (VND). Today, the Vietnamese Dong is the country's official currency, and it is actively used not only for payment but also in various cultural and ritual traditions.
Modern Money in Vietnam: Vietnamese Dong (VND)
The Vietnamese Dong (VND) is the country's main currency, and despite the growing popularity of digital payments, cash remains the main means of payment.
Coins are also widely used in Vietnam, but their denominations are limited to 200, 500, 1000 and 5000 VND, and they are most often used for small change. Banknotes, on the other hand, are more varied, with denominations of VND 10,000, 20,000, 50,000, 100,000 and 500,000. Smaller bills (VND1,000 and VND5,000) are becoming less popular due to inflation.
Interestingly, in 2012 Vietnam carried out denomination, removing three zeros from the currency, which greatly simplified financial transactions and reduced the number of banknotes in circulation.
Tourist tip: For convenience in everyday payments, it is better to carry small bills and coins, as Vietnamese merchants might not have change for large denominations.
Money Traditions in Vietnam: How Coins and Banknotes Are Used
In Vietnam, money plays an important role in not only daily life, but also in traditional rites and rituals. For example, one of the most famous customs is giving money in red envelopes during holidays, especially on Vietnamese New Year, or Tet. Money bills are placed in such envelopes as a wish for good luck, health and prosperity in the new year.
In addition, money plays an important role in religious and family traditions. During weddings, funerals or other significant events, it is customary to give money in the form of donations. Interestingly, in some temples you can buy special prayer bills, which are placed in sacrifice to the spirits of ancestors.
Coins and banknotes in Vietnam also often depict the country's most important cultural and historical symbols. Banknotes may feature images of leaders of the Vietnamese Revolution, monuments and temples.
Tip: If you want to bring home something special, look out for coins showing special places or historical figures. As these coins can become more than just a souvenir but also a memento of the country's cultural significance.
What Vietnam Coins Are Worth Bringing Home with You
For coin collectors, Vietnam is a real find. Even some coins (being in circulation) can be an interesting addition to your collection. Some of them have historical value, while others have unique cultural symbolism.
Here are a few coins to look out for if you want to bring home a souvenir that can also be valuable collectibles:
Denomination | Description | Approximate value | Additional Info |
200 dong | A small coin used mainly for bartering, with a simple design. | $1-$2 (in collectible condition) | These coins are often found in circulation, but may be of interest to collectors for their rarity and good appearance. |
500 dong | Symbolic coin depicting a pagoda, an important cultural symbol of Vietnam. | $2-$5 | The pagoda on the coin is often associated with spiritual and religious practices, which adds value to the coin. |
1000 dong | A coin depicting traditional Vietnamese symbols such as a dragon or flag. | $3-$6 | These coins are popular among collectors for their iconic symbolism and interesting design. |
5000 dong | A large coin, less common, depicting Vietnamese historical monuments. | $5-$8 | It is a rarer coin, often collected for its large face value and aesthetic value. |
Collectors tip: Before taking coins with you or including them in your collection, it's useful to research their history, features and even their market value. The Coin ID Scanner app is a great way to do this, as due to the app you may easily and quickly identify coins and assess their rarity. At the same time, the app can help you to store information about your collection electronically so that you can keep it at your fingertips and even assess fluctuations in its value.
Financial Security: How a Traveler Can Avoid Losing Money in Vietnam
Financial security is a key part of traveling comfortably. Vietnam, like other countries with an active tourist flow, is not immune to pickpocketing or currency exchange scams. Here are some simple but useful tips to keep your funds safe:
Use cards only at major locations. In major cities, many restaurants and hotels accept cards, but do not take your chances at sidewalk cafes or markets.
Do not carry all your money on you. Split up your cash, keep some in your bag and some in the hotel safe.
Exchange money only in official places. Avoid street money changers as this can lead to receiving counterfeits.
Lifehack: If you change money in a bank, ask for a small change in small bills. This can save you time and avoid unpleasant situations with large bills that are difficult to change.
Your Money - Your Peace of Mind
Traveling in Vietnam is a chance to enjoy its rich culture and picturesque landscapes and a unique opportunity to get acquainted with the peculiarities of the country's financial system. Paying attention to such small details as currency nuances will help you avoid unexpected problems and make your stay more comfortable. Do not forget that proper handling of money will save not only time and money, but will also help you bring home really interesting souvenirs that will remind you of Vietnamese culture. Be it traveling through the cities or exploring more remote areas, pay attention to detail - that way your experience will be even richer and safer.