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
Hendrick Hendricksen Kip their paddles, and shot away into one of the deep inlets of the Long Island shore. This signal victory gave new spirits to the hardy voyagers, and in honor of the achievement they gave the name of the valiant Kip to the surrounding bay, and it has continued to be called "Kip's Bay" from that time to the present." History of The Kip Family In America, by Frederic E. Kip and Margarita L. Hawley, 1928. No. 1, p. 19. Contributions to the History of the Kip Family of New York and New Jersey, by Edwin R. Purple, 1877. How Hendrick