coins

No, the government hasn't phased them out, the citizens have! They can be obtained from banks.

They come in in denominations of 200, 500, 1,000, 2,000, and 5,000 Dong.

The 200, 500 coins are made of steel plated with nickel; the 1,000, 2,000 coins are made of steel plated with a copper-zinc alloy and the mighty 5,000 coin is made from a Copper alloy.

All can be detected electronically (for vending machines) but the vending machines were withdrawn as no one, other than Foreigners, used them.

The VNese hate them so much that a parking lot attendant would rather not charge you for parking than accept coins!

The customary coin equivalent is candies. I am sure you have received some of them instead of changes.

Anatta wrote:

The customary coin equivalent is candies. I am sure you have received some of them instead of changes.

I only accept money which is stipulated by VNese law and such is known by taxi drivers as they will always find change somewhere than their short pockets.

I collect coins, not candies, and along with my fellow employees, we put them in a large glass vase in the office. Each month the amount is counted and the company donates twice the amount in the bottle and this is handed out to local charities such as food banks. Besides candies are bad for the teeth and waistlines!

As I buy equipment and materials for the company, in cash, the amount I recover in sums under Dong500 has reached over a million Dong in a single month.

As they say: Watch the Pennies and the Pounds will look after themselves.

P.S. I can buy two mini-LEDs for Dong100!

Jaitch wrote:

As I buy equipment and materials for the company, in cash, the amount I recover in sums under Dong500 has reached over a million Dong in a single month.

Just a quick math.
1 000 000 / 500 = 2000 transactions/month = 67 transactions/day (Sundays included), assuming all transactions involving sum under 500 VND!!

If the common case applies (say, 1 out of 10 transactions involved changes under 500 VND to be returned to be generous), it works out sth like 670 transactions/day.

Taking it one step further, if each transaction averages about only 100 000 VND (hard to imagine such a small office purchase nowadays), the total monthly purchase is about 200 000 * 670 * 30 = 2 billions VND/month.

Your assumptions are incorrect. We have three partners and 34 VNese employees - easy to achieve.

Now the "lead in your pencil" coffee guy outside our block has upped his cafe sau prices to VND9,500 we are collecting even more.

Hi....
On the topic of Money.... I received a 200 Dong note today... never saw one before.... are they considered to be lucky... and worthless..?
Kind of pretty... Photo of a tractor on one side and Uncle Ho on the other...

johnnywastaken wrote:

I received a 200 Dong note today... never saw one before

Supermarkets love them and use them regularly. Some VNese use them for charity collection jars.