In Bago you have to pay 10$ entrance fee to visit the several sights in town. This is ridiculous, considering that most of them are mildly interesting at best, esp. if you have seen other parts of the country. Even if you only want to visit one of the monuments you still have to pay 10$.
To visit all the sights in and around Mandalay you will have to fork out almost 40$, 3-6$ for each place. Many sights of similar or higher quality, however, can be visited elsewhere for free.
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At Least Do This: The most important thing is to chose between the good and the bad. Which of the monuments are worth your $$$ and which are not?
My subjective list :
In Bago : none; admire the Shwemandaw and Mahazedi Pagoda from outside, and enjoy the atmosphere of a typical Burmese town.
In Mandalay : definitely visit Mingun(3$) Amarapura (free), Mahamuni Paya (usually 4$,but we were not checked); climb up Mandalay Hill to the penultimate platform (great views already!), you only have to pay for the highest platform. Instead of Shwenandaw Monastery (5$), visit Shwe in Bin Monastery, just as beautiful, less touristy and free!