1½ Tamlung – Kingdom of Vientiane

Following the fragmentation of the Lan Xang kingdom in 1707, the newly independent Kingdom of Vientiane inherited a monetary system in transition, heavily influenced by regional trade and its powerful neighbors. The kingdom did not mint its own coinage but operated within a multi-currency environment. The primary medium for large transactions and state treasury was silver, often in the form of bullet coins (known as phot duang or "pot duang") imported from the Ayutthaya Kingdom (Siam). These hand-crafted, lump-shaped silver pieces were valued by weight and purity, serving as both a commodity and currency.

For everyday market exchange, the people of Vientiane relied on a barter economy and on cowrie shells, a centuries-old, low-denomination currency that was stable and widely accepted across the Mekong basin. The value of cowries was tied to their quantity, with specific counts (often strung together) representing set values. This system was supplemented by the use of tin in small, cast bars or ingots, which served as an intermediate currency between cowries and silver. The circulation of these media was largely informal and locally regulated.

This monetary landscape reflected Vientiane's precarious geopolitical position. Its economy and currency stability were directly tied to its relationship with Siam, the source of its silver, and to its trade along the Mekong River with Vietnam and other Lao principalities. The lack of a sovereign mint underscored the kingdom's limited economic autonomy, making its financial system vulnerable to the policies and production of stronger regional powers, a dependency that would shape its political fate in the decades to come.