k98nights Posted October 9, 2012 Report Share Traders make a killing on banknotes before withdrawal TUOITRENEWS A+ A- Updated : Tue, October 9, 2012,5:08 PM (GMT+0700) The bills will be withdrawn from circulation as of January 1, 2013, the State Bank of Vietnam said late last month. VND10,000 and VND20,000 paper banknotes are now offered for sale at prices up to four times higher than their face value following a recent announcement from the State Bank of Vietnam that the bills will be withdrawn from circulation from next year. The paper notes will cease to be legal tender from January 1, 2013, the central bank said late last month. They can be exchanged for the currently circulated polymer versions after this milestone, the bank added. Online traders, who have collected paper notes since the introduction of polymer banknotes in 2003, immediately seize this opportunity to reap profits from those who are willing to open their wallet to buy the notes in order to gift them to friends as a good luck wish, or just to keep them as good memories of the currencies. The serial number on each note will determine its price, they said, explaining the more “unique” the number is the higher the price gets. A trading forum member recently posted an ad that listed a VND10,000 paper note at VND20,000 while another demanded VND40,000 for each of his five brand new bills, and VND25,000 for older ones. The latter member claimed that it is hardly impossible to find VND10,000 paper bills now so he would definitely not lower the prices. Others said that they will sell their VND20,000 paper notes only if buyers bid VND40,000 to VND50,000 for each one. Paper notes like this will be given as souvenirs to friends on special occasions like Tet (Vietnamese Lunar New Year) or New Year’s Day (January 1), Lan Anh, a college student in Hanoi, said. The VND10,000 paper note symbolizes luck thanks to its bright shade of red, according to a member of an online trading forum. Easy to be torn Locals apparently prefer the polymer notes as many sellers complained that it is easy for the paper ones to absorb water and thus be torn apart. “It is a good decision because polymer notes are waterproof and difficult to break off,” Nguyen Thi Ngoc, a florist in Hanoi, said. Ha, a greengrocer at Trieu Khuc market in the capital city, added that VND10,000 and VND20,000 paper notes tend to get moldy and even decayed if left unused for a long time. “Their polymer equivalents are more convenient,” she said. Flip sides of polymer notes VND10,000 and VND20,000 paper bills also have fans even though their polymer counterparts prevail now. The polymer currencies lose their color easily and the printing on some notes would blur quickly after several times being changed hands, Nguyen Thi Lien, another Trieu Khuc seller, said. “I still prefer the paper notes,” she said. A number of sellers said the color of the paper bills is far brighter than that of the polymer issues. Others moaned that a lot of the polymer banknotes have turned creased and less shiny, with the figures and images on them already starting to fade. Many customers have rejected such notes when dealing with vendors at the market, they said. http://dongtalk.com/forums/showthread.php?p=42069#post42069 1 Quote Link to comment Share on other sites More sharing options...
Butifldrm Posted October 9, 2012 Report Share Thanks k98nights, the smallest bill I have is a 100,000.00 so I guess I'm safe. Quote Link to comment Share on other sites More sharing options...
Elixirbaby Posted October 9, 2012 Report Share My dong is not that small. Only have large dong . 1 Quote Link to comment Share on other sites More sharing options...
SgtFuryUSCZ Posted October 9, 2012 Report Share ***/// [ Insert joke about dong withdrawl here...] 1 Quote Link to comment Share on other sites More sharing options...
dweave69 Posted October 9, 2012 Report Share Just big dong here Quote Link to comment Share on other sites More sharing options...
Snatcher Posted October 9, 2012 Report Share So now we know why the Traders stopped selling them. Quote Link to comment Share on other sites More sharing options...
desimo Posted October 9, 2012 Report Share How do you exchange? My bank did not know anything about a recall. Quote Link to comment Share on other sites More sharing options...
DinarThug Posted October 10, 2012 Report Share ***/// [ Insert joke about dong withdrawl here...] Penalty's For Early Withdrawal ..... 1 Quote Link to comment Share on other sites More sharing options...
ALBUNDY Posted October 11, 2012 Report Share Traders make a killing on banknotes before withdrawal TUOITRENEWS A+ A- Updated : Tue, October 9, 2012,5:08 PM (GMT+0700) The specimens of VND10,000 and VND20,000 paper banknotes are seen in this picture. The bills will be withdrawn from circulation as of January 1, 2013, the State Bank of Vietnam said late last month. VND10,000 and VND20,000 paper banknotes are now offered for sale at prices up to four times higher than their face value following a recent announcement from the State Bank of Vietnam that the bills will be withdrawn from circulation from next year. The paper notes will cease to be legal tender from January 1, 2013, the central bank said late last month. They can be exchanged for the currently circulated polymer versions after this milestone, the bank added. Online traders, who have collected paper notes since the introduction of polymer banknotes in 2003, immediately seize this opportunity to reap profits from those who are willing to open their wallet to buy the notes in order to gift them to friends as a good luck wish, or just to keep them as good memories of the currencies. The serial number on each note will determine its price, they said, explaining the more “unique” the number is the higher the price gets. A trading forum member recently posted an ad that listed a VND10,000 paper note at VND20,000 while another demanded VND40,000 for each of his five brand new bills, and VND25,000 for older ones. The latter member claimed that it is hardly impossible to find VND10,000 paper bills now so he would definitely not lower the prices. Others said that they will sell their VND20,000 paper notes only if buyers bid VND40,000 to VND50,000 for each one. Paper notes like this will be given as souvenirs to friends on special occasions like Tet (Vietnamese Lunar New Year) or New Year’s Day (January 1), Lan Anh, a college student in Hanoi, said. The VND10,000 paper note symbolizes luck thanks to its bright shade of red, according to a member of an online trading forum. Easy to be torn Locals apparently prefer the polymer notes as many sellers complained that it is easy for the paper ones to absorb water and thus be torn apart. “It is a good decision because polymer notes are waterproof and difficult to break off,” Nguyen Thi Ngoc, a florist in Hanoi, said. Ha, a greengrocer at Trieu Khuc market in the capital city, added that VND10,000 and VND20,000 paper notes tend to get moldy and even decayed if left unused for a long time. “Their polymer equivalents are more convenient,” she said. Flip sides of polymer notes VND10,000 and VND20,000 paper bills also have fans even though their polymer counterparts prevail now. The polymer currencies lose their color easily and the printing on some notes would blur quickly after several times being changed hands, Nguyen Thi Lien, another Trieu Khuc seller, said. “I still prefer the paper notes,” she said. A number of sellers said the color of the paper bills is far brighter than that of the polymer issues. Others moaned that a lot of the polymer banknotes have turned creased and less shiny, with the figures and images on them already starting to fade. Many customers have rejected such notes when dealing with vendors at the market, they said. THE LINK : http://dongtalk.com/story-of-the-week/ 1 1 Quote Link to comment Share on other sites More sharing options...
Xanderjd Posted October 11, 2012 Report Share Wow, what exactly would be the reasoning behind paying so much for those notes? Quote Link to comment Share on other sites More sharing options...
tilak Posted October 11, 2012 Report Share Real simple solution here...support your local banks and get their rate.... Quote Link to comment Share on other sites More sharing options...
RICK C Posted October 11, 2012 Report Share I sure would like to see them do a Revaluation on all the notes. Hope to see some news on that happening ASAP. Quote Link to comment Share on other sites More sharing options...
jeepguy Posted October 11, 2012 Report Share reading this article ------ this seems too be saying you can trade your v.n.d. in for the polymer notes ,,, did anyone see where it will rise in rate ??? or is that what the scalpers are charging too handle the transfer ??? .oooo5 is a long wayyyyy from .o1 Quote Link to comment Share on other sites More sharing options...
RICK C Posted October 11, 2012 Report Share I think that pertains to the OLD PAPER NOTES, NOT Polymere Notes most bought from OUR Banks and or Dealers.simple test look to see what type you have. Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted November 8, 2012 Report Share We have an RVN RV according to Guru TerryK. Rate at .78 cents going to $2. Don't call the banks. Don't call Vietnam, the telephone lines are down again. Amazing. The Gurus always have an RV but an excuse as to why we can't varify. 11-8-2012 Intel Guru TerryK Got a phone call from one of sources ask me to not spread this information - there is a chance our blessing could come in the next few days. The dong last night in the wee hours of the morning showed 78 cents for about an hour. Saw a letter that says they want to get back to where it was. I heard we are looking at a $2 + rate on the dong. Dong years ago was at $2.22. Shabibi is retired, he is gone, etc. M [Maliki] is trying to position himself to receive everything - bank, military, country. Quote Link to comment Share on other sites More sharing options...
Osmosis Posted November 27, 2012 Report Share Shabibi is now heading up the Central Bank of Vietnam and is licking his chops at lopping all those zero's! Quote Link to comment Share on other sites More sharing options...
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