Abstract: Toy balloons that have an internal surface coated with a barrier coating include a one-way valve. The one-way valve incorporates an inlet stem that is surrounded by an expandable elastomeric collar. The coating solution is an aqueous solution having a low concentration of polyvinyl alcohol and a carbohydrate. A minimal amount of coating composition is used. This allows preassembly and precoating of toy balloons with one-way valves that can be stored for up to one year without drying out.