There is a growing demand for unique serial number banknotes among collectors, with some willing to pay a premium for bills that feature special dates or repetitive number sequences. This has given rise to a niche market for “beautiful serial number” notes, with prices far exceeding their face value.
For instance, a 1,000 VND banknote with a serial number of 0122023 (representing the date 1st of February 2023) is being sold online for 150,000 VND, a 150-fold increase in value, excluding shipping fees. The same date on a 5,000 VND note commands a higher price of 200,000 VND.
Similarly, “couple notes” with sequential years (e.g., 1998 – 1990) are also in high demand. A 10,000 VND banknote with the serial number 19981990 is advertised for 250,000 VND. The same couple number on a 20,000 VND note fetches 300,000 VND, while a 200,000 VND note with this serial number is priced at a premium of 500,000 VND. Shipping costs are additional for all these notes.
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In an interview with VTC News, lawyer Tran Tuan Anh, Director of Minh Bach Law Firm, clarified the legal status of trading banknotes with attractive serial numbers. He explained that buying and selling banknotes for collection purposes based on attractive serial numbers stems from personal preferences and hobbies. Therefore, a comprehensive legal analysis is necessary to determine the legality of such practices.
According to the State Bank of Vietnam’s regulations, currency (including both paper money and coins) is the only legal means of payment in the country. As long as the buying and selling of currency are conducted legally, it is not considered a violation of the law.
“Firstly, we need to consider the legality of the currency itself. If the banknotes being traded are genuine and have not been altered or modified, then buying and selling them based on serial numbers is not illegal. This practice can be seen as a form of commodity trading, with the banknotes as the traded goods. However, if counterfeit money or notes altered through acts such as cutting, trimming, or gluing are involved, it constitutes a criminal offense and is punishable by law,”
said Lawyer Tran Tuan Anh.
Additionally, depending on the scale and nature of the activity, selling banknotes with attractive serial numbers for business purposes (i.e., with the intention of making a profit and conducted regularly) may be considered a commercial activity. In such cases, the seller must register their business, comply with tax regulations, and adhere to relevant laws; failure to do so could result in administrative or even criminal penalties.
If the buying and selling of these special banknotes are occasional and non-profit-oriented personal activities, business registration may not be necessary. Nevertheless, even in these cases, the seller must ensure that the banknotes being traded are legal tender.
Furthermore, if the sale of attractive serial number banknotes is used as a means to defraud or deprive others of their property, it will be considered a criminal offense and prosecuted under the Penal Code for fraud and appropriation of property.
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“If the banknotes have not been counterfeited or altered, buying and selling them based on attractive serial numbers is not considered a violation of the law. However, before deciding to purchase these special banknotes, consumers should conduct thorough research to ensure that the transaction complies with legal requirements.
In particular, they should verify whether the seller has a valid business license. Consumers should also exercise caution when purchasing banknotes online or from unverified sources to avoid scams. It is advisable to conduct transactions through official and trusted channels.
The value of banknotes with attractive serial numbers is largely subjective and market-driven. Consumers should be aware that the intrinsic value of currency does not change based on serial numbers, and investing in these special notes carries a high risk. Additionally, it is important to refrain from manipulating serial numbers to artificially inflate prices or negatively impact the currency market.
