Lao kip of the Soviet collapse in 1991 and the persistence of chronic inflation, there are no coins currently in circulation in Laos. In 1979, banknotes were introduced in denominations of 1, 5, 10, 20, 50 and 100 kip. 500 kip notes were added in 1988, followed by 1000 kip in 1992, 2000 and 5000 kip in 1997, 10,000 and 20,000 kip in 2002 and 50,000 kip on January 17, 2006 (although dated 2004). On November 15, 2010 a 100,000 kip banknote was issued to commemorate the 450th anniversary of the founding of the capital, Vientiane, and the 35th anniversary of the
George Goelet Kip George Goelet Kip George Goelet Kip (January 15, 1845- June 27, 1926) was a New York lawyer, heir and member of the Goelet family during the Gilded Age. George Goelet Kip was born on January 15, 1845, in New York City, to Elbert Samuel Kip (1799-1876) and Elizabeth Goelet (1808-1882). On his father's side Kip was a descendant of Jessé de Forest and Hendrick Hendricksen Kip, founder of the Kip family of Kips Bay, Manhattan. During the time of the American Revolution his great-grandparents Samuel Kip and Anna Herring owned the famous Kips Bay Mansion, the oldest house in Manhattan