This post is a deep dive into what "LOP Gold Blog" culture actually represents, why the term haunts stackers, and whether you should be losing sleep over it. First, let’s kill the jargon. LOP stands for "Loss of Premium" or, more viscerally, "Law on Payment." But the historical definition comes from the Vietnamese Dong (VND) redomination of 2003 .
Now, here is the gold connection: People buy 1-tael and 10-tael gold bars (SJC bars) as a store of value.
Is a full currency redomination (LOP) likely in the West? No. Central banks prefer slow inflation (the invisible tax). Is it possible in emerging markets with a history of hyperinflation? Yes. It has happened before.
In Vietnam, the government doesn't just regulate gold; it brands it. SJC bars are the only "legal" gold bars for hoarding. Private minted bars (like PAMP or Credit Suisse) are viewed with suspicion.
In 2003, Vietnam removed four zeros from its currency. Old notes (10,000 VND) became new notes (1 VND). The government simply "lopped off the zeros."
If you have spent more than a few hours in the deep end of the gold bug community—specifically forums like GoldRefiners, Vietnam Gold Trading groups, or certain sections of Reddit’s r/Gold—you have likely stumbled across the cryptic acronym: LOP .