Thai baht

"Baht" redirects here. For other uses, see Baht (disambiguation).

The baht (/bɑːt/; Thai: บาท, pronounced [bàːt̚]; sign: ฿ or บ.; code: THB) is the official currency of Thailand. It is divided into 100 satang (สตางค์, pronounced [sà.tāːŋ]; sign: st. or สต.). The currency was officially adopted 1238 and continuously issued since. Initially issued in the podduang form, King Rama IV decided to switch to flat coins in 1860. The baht was then decimalised in 1897, before which the baht was divided into 8 fueang (เฟื้อง, pronounced [fɯá̯ŋ]), each into 8 at (อัฐ, pronounced [ʔàt̚]), and each into 100 bia (เบี้ย, pronounced [bîa]). The issuance of currency is the responsibility of the Bank of Thailand. SWIFT ranked the Thai baht as the 10th-most-frequently used world payment currency as of December 2023.

Thai baht

บาทไทย (Thai)
Banknotes and coins of the Thai baht issued by the Bank of Thailand (15th series)
ISO 4217
Code	THB (numeric: 764)
Subunit	0.01
Plural	The language(s) of this currency do(es) not have a morphological plural distinction.
Symbol	฿ or บ
Denominations
Subunit
1⁄100	satang
Banknotes	฿20, ฿50, ฿100, ฿500, ฿1000
Coins
Freq. used	25, 50 satang, ฿1, ฿2, ฿5, ฿10
Rarely used	1, 5, 10 satang (internal use in banks; not in circulation)
Demographics
Date of introduction	1897 (1897)
Official user(s)	Thailand
Unofficial users	Cambodia Laos Myanmar Vietnam
Issuance
Central bank	Bank of Thailand
Website	www.bot.or.th
Printer	Note Printing Works of the Bank of Thailand
Mint	Royal Thai Mint
Website	www.royalthaimint.net
Valuation
Inflation	1.2% (2023)
Source	World Bank
Pegged with	Spanish dollar: 1856–1880 Pound sterling: 1880–1942 Japanese yen: 1942–1945 United States dollar: 1956–1997 Free floating: 1997–present

The baht was defined as 15.16 grams (0.4874 troy oz) of silver or gold, which was exchanged at 16:1 ratio. This was the case until the decree of June 29, 1874 which switched the Thai baht to the silver standard, and again in 1908, converting the baht to the gold standard before being completely debased in 1962 with the halt in production of the silver baht coin.

The baht was pegged to the Spanish dollar from 1856 at a ฿5 to $3 ratio. It was then pegged to the British pound sterling (£) at a ฿8 to £1 in 1880 and subsequently several re-pegging to a new ratio. The baht was then pegged to the US dollar at a ฿20 to US$1 ratio along with several re-peg. The baht was forced to float in 1997 causing the Asian financial crisis.

History

Main article: History of Thai money

See also: Tical (unit)

Siamese tical
(Predecimal Thai baht)

Predecimal bullet coin issued by Rama III Predecimal tical coin issued by Rama V
Unit
Plural	ticals (baht)
Symbol	None official. The abbreviations Tcs, Tcl, 圓, or 銖 were used.
Denominations
Superunit
80	chang
4	tamlueng
Subunit
1⁄8	fueang
1⁄64	at
Symbol
fueang	F or 方
Banknotes
Freq. used	1 Tcs 5 Tcs
Rarely used	1⁄8 Tcs 1⁄4 Tcs 3⁄8 Tcs 1⁄2 Tcs 5⁄8 Tcs 3⁄4 Tcs 7⁄8 Tcs 8 Tcs 10 Tcs 12 Tcs 16 Tcs 20 Tcs 24 Tcs 28 Tcs 32 Tcs 40 Tcs 48 Tcs 60 Tcs 80 Tcs 100 Tcs 140 Tcs 400 Tcs 800 Tcs 1000 Tcs
Coins
Freq. used	1⁄16 F, 1⁄8 F, 1⁄4 F, 1⁄2 F, 1 F, 1⁄4 Tcs, 1⁄2 Tcs, 1 Tcs, 1⁄2 Tm, 1 Tm, 2 1⁄2 Tcs, 4 Tcs, 8 Tcs
Demographics
Date of introduction	1238 (1238)
Date of withdrawal	1910 (1910)
User(s)	Siam
Issuance
Central bank	Siamese government
Printer	see § Predecimal banknotes
Mint	Royal Thai Mint
Valuation
Pegged with	Pound sterling (from 1908) (13 baht per £)
This infobox shows the latest status before this currency was rendered obsolete.

The Thai baht, like the pound, originated from a traditional unit of mass. Its currency value was originally expressed as that of silver of corresponding weight (now defined as 15 grams), and was in use probably as early as the Sukhothai period in the form of bullet coins known in Thai as photduang. These were pieces of solid silver cast to various weights corresponding to a traditional system of units related by simple fractions and multiples, one of which is the baht. These are listed in the following table: Though the coins themselves have names like: solot, siao, sik, etc., the formal division of the Thai baht (tical) is 1 baht = 8 fueang = 64 at. This means that one baht is divided into eight fueang, and each one fueang is divided into eigth at. Currently, the Thai baht do not employ the at as a subunit, but the at is the current subunit of the Lao kip.

Denominations

Siamese predecimal tical system

Unit	Example	Value relative to		Notes
		Baht	Satang
Bia เบี้ย		1⁄6400	0.0156	Bia is Thai for cowry, the shell of which was used as a trade medium of the same value. The value fluxuate anywhere from 1 at = 60 to 1 at = 1200 depending on the era
Solot โสฬส		1⁄128	0.78	Solot here literally means sixteen or sixteenth, referring to the fractional amount relative to a fueang.
Satang สตางค์		1⁄100	1.00	Means a hundredth of a cash
At อัฐ		1⁄64	1.56	Likewise, at means eight.
Siao/Phai เสี้ยว/เสี้ยว/ไพ		1⁄32	3.125	Siao means quarter.
Sik ซีก/สิ้ก		1⁄16	6.25	Sik means half.
Fueang เฟื้อง		1⁄8	12.5	The smallest silver bullet coins available in the market.
Salueng สลึง		1⁄4	25	Thai version of the mace. It is also the equivalent of the Cambodian salong, and Burmese pya.
Baht บาท		1	100	It is also the equivalent of the Cambodian baat, and Burmese kyat. Its alternative name is the tical.
Tamlueng ตำลึง		4	400	Thai version of the tael.
Chang ชั่ง		80	8000	Thai version of the catty.
Hap หาบ	no example	6400	640000

This predecimal system was in use up until 1897, when the decimal system devised by Prince Jayanta Mongkol, in which one baht = 100 satang, was introduced by his half-brother King Chulalongkorn along with the demonetisation of silver bullet coins on 28 October 1904 after the end of silver bullet coin production by the opening of Sitthikarn Royal Mint in 1857. However, coins denominated in the old units were issued until 1910, and the amount of 25 satang is still commonly referred to as a salueng, as is the 25-satang coin.

Until 27 November 1902, the baht was fixed on a purely silver basis, with 15 grams of silver to the baht. This caused the value of the currency to vary relative to currencies on a gold standard. From 1856 to 1864, the values of certain foreign silver coins were fixed by law, with 5 baht = 3 Spanish dollar = 7 Indian rupees. Before 1880 the exchange rate was fixed at 8 baht per £, falling to 10 to the £ during the 1880s.

In 1902, the government began to increase the value of the baht by following all increases in the value of silver against gold but not reducing it when the silver price fell. Beginning at 21.75 baht per British £, the currency rose in value until, in 1908, a fixed peg to the British pound sterling was established of 13 baht per £. This was revised to 12 baht in 1919 and then, after a period of instability, to 11 baht in 1923. During World War II, the baht was fixed at a value of one Japanese yen on 22 April 1942.

From 1956 until 1973, the baht was pegged to the US dollar at an exchange rate of 20.8 baht = one US$ and at 20 baht = 1 US$ until 1978. A strengthening US economy caused Thailand to re-peg its currency at 25 to the US$ from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the US$ in January 1998. It rose to 30 per US$ in January 2021.

The baht was originally known to foreigners by the term tical, which was used in English language text on banknotes until the series 2 1925.

Currency sub-unit equivalents

Thai Equiv. Subunits	Thailand (Siam)	India (British India)	Myanmar (Konbaung)	British pound	US dollar	Cambodia	Laos (Lan Xang & etc.)	Indochinese Union	Vietnam (Nguyen)	China (Qing)	Korea (Joseon)	Japan (Tokugawa)
4 Unit	Tamlung (55g~ silver)			Half-Sovereign (10s) (54g~ silver)		Taal (60g~silver)	Lat (60g~ silver)					Kanmon (56g~ silver)
2 1/2 Unit	Paddung (35g~ silver)					Tael (34g~ silver)			Chỉ (10錢/1兩) (37g~ silver)	Tael (10錢/1两) (37g~ silver)	Nyang (100錢/1兩) (37g~ silver)	Ryo (~12朱/1両) (37g~ silver)
2 Unit	Half-Tamlung (27g~ silver)			Crown (5s) (27g~ silver)	US dollar ($1) (24g~ silver)	Piastre (27g~ silver)			Nguyên (1元) (27g~ silver)	Yuan (1元) (27g~ silver)	Won (1圓) (27g~ silver)	Yen (1圓) (27g~ silver)
1 Unit	Baht (14g~ silver)	Rupee (12g~ silver)	Kyat (12g~ silver)	Half-Crown (2½s) (13g~ silver)	Half-US dollar ($½) (12g~ silver)	Baat (15g~silver)
1/2 Unit	Two Salung (6.9g~ silver)	Athanni (6g~ silver)		Shilling (1s) (5g~ silver)	Quarter ($1⁄4) (6g~ silver)							Bu (~3朱) (8.5g~ silver)
1/4 Unit	Salung (3.4g~ silver)	Chawanni (3g~ silver)	Mat (3g~ silver)	Sixpence (6d) (2.5g~ silver)	Dime (10¢) (2.3g~ silver)	Salong			Tiền (1錢) (3.7g~ silver)	Mace (1錢) (3.7g~ silver)	Yang (1⁄5圓) (3.7g~ silver)	Shu (1朱) (2.6g~ silver)
1/8 Unit	Fuang (1.7g~ silver)	Duanni (1.5g~ silver)	Mu (1.5g~ silver)	Threepence (3d) (1.3g~ silver)	Nickel (5¢) (1.2g~ silver)	Fuang
1/16 Unit	Sik (0.85g~ silver)	Anna (0.75g~ silver)	Pe (0.75g~ silver)
1/32 Unit	Pai / Siao (0.42g~ silver)	Taka (0.38g~ silver)		Penny (1d) (0.43g~ silver)		Pe
1/40 Unit									Phân (1⁄10錢) (0.37g~ silver)	Candareen (1⁄10錢) (0.37g~ silver)	Jeon (1錢) (0.37g~ silver)
1/64 Unit	At (0.21g~ silver)	Pice (0.18g~ silver)	Pya	Halfpenny (½d) (0.21g~ silver)	Penny (1¢) (0.2g~ silver)	At	At (old)
1/100 Unit	Satang (0.13g~silver)	(new) Paisa	(new) Pyas			Sen	Cent / At	Cent	(new) Văn (1⁄100元)	(new) Fen (1⁄100元)	(new) Jeon (1⁄100圓)	(new) Sen (1⁄100圓)
1/128 Unit	Solot (0.11g~silver)			Farthing (1⁄4d) (0.11g~ silver)
1/256 Unit		Pie		Half-Farthing (1⁄8d) (0.05g~ silver)
1/400 Unit	Bia					Sapèque			Văn (1⁄100錢)	Cash / Fen (1⁄100錢) (0.037g~ silver)	Pun / Mun (1⁄10錢)	Mon (~1⁄333朱)
*Silver or silver equivalents ** Weights for the baht is based upon the 1908 weight standard

On the topic of demonetization

Unlike many nations that periodically demonetize obsolete currency series to combat counterfeiting or financial crimes, Thailand maintains a policy of perpetual legal tender status for its paper currency. Under national monetary frameworks, all banknotes officially issued by the government since the central bank's establishment remain legally valid for circulation and exchange at face value. Though this is done through omission as per the Currency Act B.E. 2501.

While older paper issues theoretically retain full purchasing power, their modern everyday use is virtually non-existent. This is due to a lack of public familiarity, compatibility limitations with modern automated banking systems, and the fact that their numismatic collector value often vastly exceeds face value. However, any obsolete or heavily worn banknote can still be exchanged for modern equivalents at any commercial bank or directly at the BOT without an expiration date.

Precedents for demonetization

There are only one occurrence for demonetization of a series. The first time is when the currecy transferred to the decimal system, eliminating denomination such as at, fuang, and etc. This occurred through a bunch of decrees from 1895 to 1909 when the old currency was phased out.

Currency symbol

The currency symbol for the baht is ฿ (a Latin letter B with a vertical stroke). In 1986, this symbol was given a codepoint for computer use in the Thai Industrial Standard 620–2533 (Thailand's extension of ASCII), at position 0xDF. This national standard was subsequently subsumed into international standards as ISO/IEC 8859-11 ("ISO Latin-Thai"). In turn, the ISO 8859 series were transposed into the Unicode standard, where the symbol was allocated the codepoint U+0E3F ฿ THAI CURRENCY SYMBOL BAHT. The symbol is also used for the Panamanian balboa.

Abbreviation

In Thai usage, the baht (บาท) is legally abbreviated as บ. according to Section 7 of the Currency Act, B.E. 2501.

Bitcoin

For a time, the baht symbol was appropriated by some as a symbol for Bitcoin, a cryptocurrency. Following representations, a separate code point (U+20BF ₿ BITCOIN SIGN, a Latin letter B with two vertical strokes) was allocated in Unicode version 10.0.

Square katakana

In Unicode 1.0, two codepoints were allocated to the baht, one as the currency symbol in the Thai range and one in the CJK Compatibility block as a square version of the Japanese word for "baht", written in katakana script. The CJK codepoint, U+332C ㌬ SQUARE PAATU, is documented in subsequent versions of the standard as "a mistaken, unused representation" and users are directed to U+0E3F ฿ THAI CURRENCY SYMBOL BAHT instead. Consequently, only a few computer fonts have any content for this codepoint and its use is deprecated.

(The Japanese for "baht" is バーツ (bātsu). However, the reference glyph ⟨㌬⟩ and the character name correspond to パーツ (pātsu, from English "parts").)

Historical symbols used before decimalisation

Before decimalisation, the Siamese government employed Chinese, Latin, Jawi (Malay), Devanagari, Khmer and Khom, Lanna, and Burmese scripts in banknotes and coins, as seen. The reason is not clear, though it is a common understanding that it is to ease the facilicitation of trade within Siam. It could also be the case that at the time, the capital, Bangkok (Phra Nakhon) was still a multi-cultural city, so as to be more inclusive, the government added various other language onto the currency – though by the second series after the decimalisation in the 1900s, the currency was all but monolingual.

圓; yuán (บาท): This character was use during the times of Rama IV to represent baht, though this was phased out by another character which is in partially and informally used today. The only occurrence of this character was in Rama IV's banknote series.

銖; 铢; zhū (บาท): This character was in use from 1868 to 1925 officially on banknotes to represent baht. It is still in use today unofficially to refer to the Thai baht in general, as in 泰銖 or 泰铢.

錢; 銭; qián (สลึง): This character was in use from 1851 to 1908 officially on banknotes and coins to represent salueng.

方; fāng (เฟื้อง): This character was in use from 1851 to 1908 officially on banknotes and coins to represent fueang.

The notation for these Chinese character are written like they are in Thai, though there is a caveat: it is written right to left, as was the convention back then, so one baht is written 圓壹 or 銖壹, if there are smaller units involved the notation can write like such: 方銭參圓壹 for one baht, three salueng, and one fueang.

Coins

Summary

History

Podduang Coinage
Series/Value	1/800 Fueang (1 Bia)	1/8 Fueang (1 At)	1/4 Fueang (1 Siao)	1/2 Fueang (1 Sik)	1 Fueang (1 Fueang)	1/4 Ticals (1 Salueng)	1/2 Ticals (2 Salueng)	1 Tical (1 Baht)	2 Ticals (2 Baht)	4 Ticals (1 Tamlueng)	8 Ticals (2 Tamlueng)	goes up to 80 ticals (1 Chang)
(1238–1900) 662 years
Predecimal Coins [ 1 baht = 64 at ]
Series/Value	1/16 Fueang (1 Solot)	1/8 Fueang (1 At)	1/4 Fueang (1 Siao)	1/2 Fueang (1 Sik)	1 Fueang (1 Fueang)	1/4 Ticals (1 Salueng)	1/2 Ticals (2 Salueng)	1 Tical (1 Baht)	2 Ticals (2 Baht)	2 1/2 Ticals (2 Baht 2 Salueng)	4 Ticals (1 Tamlueng)	8 Ticals (2 Tamlueng)
Issue 1 (1856) 4 years
Issue 2 (1860) 9 years
Issue 3 (1869) 6 years
Issue 4 (1875) 13 years
Issue 5 (1888–1908) 20 years
Decimal Coins [ 1 baht = 100 satang ]
Series/Value	0.5 Satang	1 Satang	2.5 Satang	5 Satang	10 Satang	20 Satang	25 Satang	50 Satang	1 Baht	2 Baht	5 Baht	10 Baht
Issue 6 (1897) 11 years
Issue 7 (1908, 1939) Rama V* 5 years
Issue 8 (1913) Rama VI* 16 years
Issue 9 (1929) Rama VII* 8 years
Issue 10 (1937, 1941, 1942, 1945) 9 years
Issue 11 (1946) 4 years
Issue 12 (1950) 22 years
Issue 13 (1972) 5 years
Issue 14 (1977) 5 years
Issue 15 (1982) 5 years
Coins in Circulation
Limited-circulation coins						Circulation coins
Series/Value	0.5 Satang	1 Satang	2.5 Satang	5 Satang	10 Satang	20 Satang	25 Satang	50 Satang	1 Baht	2 Baht	5 Baht	10 Baht
Issue 16 (1987, 2005, 2008, 2009) (31 years)* 39 years
Issue 17 (2018) 8 years

*actual year produced vs year in active use

Events

• [Adoption of bimetallic standard] 1238 – The baht was adopted as the national currency in the forms of Podduang. The currency used the bi-metallic standard at 1:16 gold to silver ratio.
• 1500 – Modern pre-decimal denominations of the baht were fully in use, mainly: 1 att, 2 att, 4 att, 1 fuang, 2 fuang, 4 fuang, and 1 baht.
• 1835 – Government moved toward the adoption of flat coins
• 1852 – The first circulating banknotes were introduced
• 1862 – The first circulating flat coins were introduced
• 1869 – Adoption of 0.900 fineness standard for silver coins, prior to this, the mint used the "best silver available".
• [Adoption of silver standard] 1875 – The production of all coins above the 1 baht value and all gold coins was halted
• 1897 – Government started the process of decimalisation, the introduction of 2.5 satang, 5 satang, 10 satang, and 20 satang coins. These coins co-circulated with the pre-decimal coins
• 1904 – Demonetisation of the Podduang,
• [Adoption of gold standard] 1908 – Introduction of the 1 satang, 25 satang, abd 50 satang coins. The production of the 2.5-satang coins was halted. 1 baht coin is now 15g, and made of 13.7g silver at 0.900 purity.
• [Decimalisation] 1910 – Government finished the process of decimalisation, all non-decimal currency, including banknotes and coins, were demonetised. The new series of coins; consisting of 1 satang, 5 satang, 10 satang, 25 satang, 50 satang, and 1 baht coin; was introduced.
• [Silver crisis] 1915 – Debasement of silver standard to 0.800 fineness, worldwide silver price crisis starting a global trend towards fiat currency.
• 1916 – Debasement of silver standard to 0.650 fineness
• 1918 – Removal of 1 baht from circulation, silver became too expensive to use in coins - doubling in value.
• 1919 – Debasement of silver standard to 0.500 fineness
• 1920 – Re-establishment of silver standard to 0.650 fineness, coinciding with the lowering of silver price
• 1945 – De facto move towards fiat currency and the abandonment of the silver standard due to coins no longer being made from silver.
• 1946 – Removal of 20 satang from circulation
• 1950 – Removal of 1 satang from circulation
• 1957 – Debasement of silver standard to 0.030 fineness, re-introduction of the 1 silver baht coin
• [Debasement] 1962 – Adoption of the fiat currency, and the abandonment of the silver standard. Due to this, the production of the last silver coin (1 baht) was halted.
• 1972 – Introduction of 5 baht coin.
• 1977 – Removal of 5 satang and 10 satang from circulation.
• 1987 – Introduction of 10 baht coin
• 2005 – Re-introduction of 2 baht coin

Mint involved in producing Siamese and Thai coins

Mints

Name of the production facility	Alternative names	Start	End
Royal Thai Mint	สำนักกษาปณ์	1860	present
China Banknote Printing and Minting Corporation	中国印钞造币总公司	2017	2017
Korea Minting and Security Printing Corporation	한국조폐공사	2017	present
South African Mint		2016	present
Mint of Bavaria	Bayerisches Münzkontor	2011	2016
Mint of Finland	Suomen Rahapaja	1986	2017
Mint of Poland	Mennica Polska	2015	2016
Mint of Paris	Monnaie de Paris	1908 2017	1925 2017
Royal Canadian Mint	Monnaie Royale Canadienne	1986	2007
State Mint and Polygraphic Institute (Italian Mint)	Istituto Poligrafico e Zecca dello Stato	1989	1989
Mint of Japan	独立行政法人造幣局	1926	1937
Heaton and Sons (Birmingham Mint Limited)		1875	1921
Royal Mint of Belgium	La Monnaie Royale de Belgique/ Koninklijke Munt van België	1908	1935
United States Mint of Philadelphia		1919	1919
Mint of Hamburg	Hamburgische Münze	1887	1905

Mint history timeline

Photduang coinage

Example of the Spanish dollar which was marked with the Siamese government's emblem – marking that it is legal tender

Cowrie shells from the Mekong River had been used as currency for small amounts since the Sukhothai period. Before 1860, Thailand did not produce coins using modern methods. Instead, a so-called "bullet" coinage was used, consisting of bars of metal, thicker in the middle, bent round to form a complete circle on which identifying marks were stamped. Denominations issued included 1⁄128, 1⁄64, 1⁄32, 1⁄16, 1⁄8, 1⁄2, 1, 1+1⁄2, 2, 2+1⁄2, 4, 4+1⁄2, 8, 10, 20, 40 and 80 baht in silver and 1⁄32, 1⁄16, 1⁄8, 1⁄2, 1, 1+1⁄2, 2 and 4 baht in gold. One gold baht was generally worth 16 silver baht. Between 1858 and 1860, foreign trade coins were also stamped by the government for use in Thailand.

Sukhothai and Ayutthaya photduang

Photduang, a form of currency used during the Sukhothai period, was characterised by its longer legs, which created a larger and wider hole in the middle. These coins were primarily made of silver and featured a cut across the front of each leg. This cut served a dual purpose: it authenticated the money and allowed for the quality of the silver to be tested. Over time, as the Sukhothai Kingdom declined and became a vassal state of Ayutthaya—which was established as the capital in 1350—the design of photduang evolved. The coins became rounder with shorter legs, and the central hole, while still present, grew smaller. By the end of this era, the hole disappeared completely. The cuts on the legs also reduced in size and were eventually replaced by a small elliptical nick, known as "Met Kao San," on one side of the coin.

Thonburi and Rattanakosin photduang

The Thonburi period (1767–1782) and the Rattanakosin period, beginning in 1782, adopted the photduang design from the late Ayutthaya period. The coins from these periods had no central hole, and the legs were even shorter. A key difference was that

Siam at the time of podduang issue 4 (1805)

Thonburi photduang lacked the elliptical nick, whereas the Rattanakosin coins reintroduced this feature, similar to the Ayutthaya coins. Photduang from these later periods typically featured two stamped marks: the dynasty mark on top and the king's personal mark on the front part. The dynasty mark often symbolised the kingdom's ruling dynasty, while the king's personal mark represented the reigning monarch.

Markings on the photduang

The markings on photduang coins varied across different periods. During the Sukhothai era, some coins bore no marks, while others had up to 11. This variation was because, at that time, individuals and merchants could produce their own money. However, from the Ayutthaya period onward, the production of photduang was monopolised by the government, making it easier to identify coins from each era. Ayutthaya photduang typically bore two marks: the dynasty mark, which could be a spoked wheel symbolising the "Wheel of Law" from Buddhist teachings or the Chakra (Vishnu's weapon), represented by a pattern of 8 dots surrounding a central dot. The king's personal mark varied with each ruler and included symbols such as a conch shell, a Garuda bird (khrut), an elephant, and an anchor, each symbolising different aspects of the king's reign or divine associations.

Photduang timeline

*continues in the coin section*

List

Photduang of the Thai tical (Rama III & Rama IV)
Image	Names		Value		Width (mm)	Weight (g)	Composition	Inscription, description	Dates of issue
	Primary	Secondary	in silver baht	in gold baht
	Bia เบี้ย		1⁄6400	1⁄102400	25	1.58	Calcium carbonate	None	1238–1869
	Half Phai กึ่งไพ	At อัฐ	1/64	1/1024	2	0.25	Silver	State ensign of Rattanakosin	1824–1851
	Phai ไพ		1/32	1/512	4	0.5		State ensign of Rattanakosin Castle	1824–1856
	2 Phai สองไพ	Half Fueang กึ่งเฟื้อง	1/16	1/256	6	1
	Fueang เฟื้อง		1/8	1/128	6.5	1.98
	Salueng สลึง		1/4	1/64	9	3.7
	2 Salueng สองสลึง	Half Baht กึ่งบาท	1/2	1/32	11	7.6
	Baht บาท		1	1/16	14.5	15.14
	Gold 2 Phai สองไพทอง	Gold Half Fueang กึ่งเฟื้องทอง			5	1	Gold	State ensign of Rattanakosin Phra Maha Mongkut seal	1851–1856
	2 Baht สองบาท	Half Tamlueng กึ่งตำลึง	2	1/8	17.5	30.30	Silver	State ensign of Rattanakosin Castle	1824–1856
	Gold Fueang เฟื้องทอง				6	1.5	Gold	State ensign of Rattanakosin Phra Maha Mongkut seal	1851–1856
	4 Baht สี่บาท	Tamlueng ตำลึง	4	1/4	23.5	60.50	Silver	State ensign of Rattanakosin Castle	1824–1856
	Gold Salueng สลึงทอง				8	3.7	Gold	State ensign of Rattanakosin Phra Maha Mongkut seal	1851–1856
	Gold 2 Salueng สองสลึงทอง	Gold Half Baht กึ่งบาททอง	8	1/2	9.5	7.56
	Gold Baht บาททอง		16	1	12	15.14
	Gold 2 Baht สองบาททอง	Gold Half Tamlueng กึ่งตำลึงทอง	32	2	16	30.01
	40 Baht สี่สิบบาท	Half Chang กึ่งชั่ง	40	2.5	48	606.5	Silver		1860
	80 Baht แปดสิบบาท	Chang ชั่ง	80	5	59	1216			1859

Predecimal coinage

Rama III (1824–1851) was the first king to consider the use of a flat coin. He did so not for the convenience of traders, but because he was disturbed that the creatures living in the cowrie shells were killed. When he learned of the use of flat copper coins in Singapore in 1835, he contacted a Scottish trader, who had two types of experimental coins struck in England. The king rejected both designs. The name of the country put on these first coins was Muang Thai, not Siam.

In 1860, modern-style coins were introduced. These were silver 1 sik; 1 fueang; 1 and 2 salueng; 1, 2, and 4 baht; with the baht weighing 15.244 grams and the others weight-related. Tin 1 solot and 1 at followed in 1862, with gold 2+1⁄2, 4, and 8 baht introduced in 1863 and copper 2 and 4 at in 1865. Copper replaced tin in the 1 solot and 1 at in 1874, with copper 4 at introduced in 1876. The last gold coins were struck in 1895.

Siam at the time of coin issue 1, 2, 3, and 4 (1856–1875)

Coin timeline

Beginning the production of flatcoins

While the Thai diplomatic mission led by Phraya Montri Suriyawong was in England in 1857, King Mongkut sent a letter requesting assistance in acquiring coin-minting machinery. In the letter dated November 2, 1857, he wrote:

"...I have obtained the tools to mint coins in the style of Thai coins as I have given to Chao Muen Sanphet Phakdi (Peng Penkul), the deputy envoy. Please take care of this matter and discuss it with Lord Clarendon (British Foreign Minister) so that he may help in devising a plan. This will help develop the country, as these are Thai-style coins that the people will trust and use like the Thai baht."

The King explained his intention to mint coins in denominations of one baht, half-baht, salung, and fuang, emphasizing that they should be attractive, trustworthy, and easy to produce in large quantities. He also noted concern about neighboring rulers already issuing modern coins in their own realms.

The Siamese delegation visited the factory of Joseph Taylor in Birmingham on December 10, 1857, and ordered minting machinery worth about 3,000 pounds, including engraved dies and the services of two engineers.

The machinery arrived in Bangkok in late 1858 together with its foreman, Samuel Sanders, who died shortly after arriving. Two English engineers, Charles Wigley and Barringer, continued the installation. Wigley later died in 1868 after falling from his houseboat on the Chao Phraya River, while Barringer died of dysentery in 1869. Mod Amatyakul eventually oversaw the continuation of the project.

The minting machinery became operational in 1860 at the new mint near the Grand Palace, called the "Royal Mint of Sitthikan." An official proclamation described the new silver coins:

"...Therefore, His Majesty has conceived the idea of establishing a new mint for silver coins and the coins by setting the price of Thai coins at one baht as the base, and denominate the silver coins into of two salung, one salung and etc"

These coins featured the Great Victory Crown, royal umbrellas, wheel designs, and elephant emblems. Different denominations were identified by star patterns representing gears. Gold coins were also minted. The machine-struck silver and gold coins circulated from 1860 until the original machinery broke down in 1870. To expand production, a second mint was built near the original site and completed in 1875. New machinery from England arrived in 1876, and King Chulalongkorn officially opened the mint on May 31, 1876. The proclamation stated:

"...As His Majesty King Mongkut graciously ordered the establishment of machinery to mint baht, salung, and fuang coins to replace the previous reign's bullet money, this new mint shall continue to be used until the present reign."

The new coins carried a portrait of King Chulalongkorn on one side and the Siamese national emblem on the other. The proclamation further declared:

"These three types of money are to be used by the people normally, and the emblem bearing the image of the King should not be considered sacred or low-status. It may be placed in a basket or container. No one is allowed to misrepresent it or misuse it. Anyone who arrests the people and causes them distress will be punished according to the law..."

In 1901, Siam built a third mint on Chao Fa Road equipped with electrically powered machinery capable of producing 80,000–100,000 baht worth of coins per day. The mint continued producing coins bearing the portrait of Rama V and the national coat of arms until 1972, when operations moved to the modern Royal Thai Mint on Pradiphat Road in Bangkok. Modern coinage laws followed the expansion of machine minting. The Currency Act of 1902 and the Gold Standard Act of 1908 formally regulated Siamese currency. The Act defined:

"Mint" means the government mint in Bangkok.

"Mint coin" means a metal block minted by any government for use as currency.

"Small coins" means mint coins with a value less than 1 baht, and one baht coin shall be divided into 100 satang.

Older feung, att, and sot coins were gradually withdrawn and replaced with satang-denominated currency. The Thai term "กระษาปณ์" (krasaap), meaning currency or coinage, first appeared in early mint regulations. It derives from an ancient Indian copper currency term and is today officially written as "กษาปณ์".

Issue 0 – 1835 - Muang Thai Series (trial series)

During the reign of King Rama III (1824–1851), an initiative was made to introduce Thailand's first flat coinage, intended to replace the widely used cowrie shells. To aid in this modernisation of the monetary system, the king employed Robert Hunter, a Scottish merchant, to produce pattern coins.

King Rama III had the idea to produce copper cowrie shells to replace cowrie shells, which were live animals. He ordered Phraya Phra Khlang (Dis) to design and make a sample for his inspection. Phraya Phra Khlang (Dis) contacted Mr. Robert Hunter, a Scottish merchant who had a trading post in Bangkok, to order a sample. Upon receiving it, it was presented to the King for inspection, but he did not approve of it. Therefore, no copper cowrie shells were produced during the reign of Rama III.

The proposed designs featured an elephant motif, which bore resemblance to the coinage of Lanka (modern-day Sri Lanka). Concerned about the symbolic inappropriateness of the elephant, which could imply foreign influence or association, King Rama III ultimately rejected all of the submitted patterns. As a result, none of the proposed coins were officially adopted or denominated.

These pattern coins, though never circulated, represent an early attempt at modernisation of Siamese currency prior to the eventual adoption of machine-struck coinage in the reign of King Rama IV.

Table for Issue 0 - 1835 - Muang Thai Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		non-denomionated	4.3g	23mm	500	Copper	Elephant Seal ๑๑๙๗ (CS. 1197)	A set of stars เมืองไทย (Land of the Thais)	1835	Phraya Phra Khlang (Dis) สมเด็จเจ้าพระยาบรมมหาประยูรวงศ์
		non-denomionated	4.30g	23mm	500	Copper	Lotus Seal ๑๑๙๗ (CS. 1197)	A set of stars เมืองไทย (Land of the Thais)
		non-denomionated	4.30g	23mm	500	Silver	Elephant Seal ๑๑๙๗ (CS. 1197)	A set of stars เมืองไทย (Land of the Thais)
		non-denomionated	4.30g	23mm	500	Silver	Lotus Seal ๑๑๙๗ (CS. 1197)	A set of stars เมืองไทย (Land of the Thais)

Issue 1 – 1856 (transitional)

The first issue of coins were commissioned by Rama IV, though it was never brought into circulation. This was one of the first attempt to replace the bullet coins, but few were ever minted without making it into circulation.

Table for Issue 1.1 - 1835 - Mongkut Regalia Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		Half-Fueang กึ่งเฟื้อง	1.00g	12.5mm	Unknown	Gold	Chakra Seal Great Crown of Victory Seal Sacred Water Vessel Seal	none	1856	Unknown
		Salueng สลึง	3.70g	16.0mm		Silver	Chakra Seal Great Crown of Victory Seal Sacred Water Vessel Seal	none
		Fueang เฟื้อง	1.85g	12.5mm		Silver	Chakra Seal Great Crown of Victory Seal Sacred Water Vessel Seal	none

Table for Issue 1.2 - 1835 - Krung Thep Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		Salueng สลึง	3.80g	20.0mm	Unknown	Gold	Great Crown of Victory Seal	กรุงเทพ (ฺBangkok)	1856	Unknown
		Fueang เฟื้อง	1.80g	15.0mm		Gold	Great Crown of Victory Seal	กรุงเทพ (ฺBangkok)
		Salueng สลึง	3.80g	20.0mm		Silver	Great Crown of Victory Seal	กรุงเทพ (ฺBangkok)
		Fueang เฟื้อง	1.80g	15.0mm		Silver	Great Crown of Victory Seal	กรุงเทพ (ฺBangkok)

Issue 2, 3 – 1860, 1869 – Tributary Series & Great Chula Seal Series

This series in thai is called: เหรียญบรรณาการ (Rian Bannakan) which means tributary coins or coin gifts. As this series of coins was produced using manually operated machinery that had been presented as a royal gift by Queen Victoria of England. Due to the limited production capacity of these machines, the coins could not be minted in sufficient quantities to meet the country's demand. Consequently, their use was discontinued. This coincided with the arrival of steam-powered machinery, which allowed for more efficient and larger-scale coin production. It is worth noting that coins of the half-fuang denomination were not mentioned in official announcements.

Though the silver coins within issue 2 has three production date: 1857, 1860, and 1863 in which they differ slightly in design, they are nevertheless counted as a single issue. 1857 issue was the original sets which were given by Queen Victoria.

The first circulating issue of the Siamese coins. This marked the start of the move away from using photduang currency. Though in this era, the photduang were still legal tender. In this series, the lower denominations were made of silver, and the higher ones were made of gold. These higher denominations were given nicknames: pot dueng, pit, and tot. Pot dueng means thirty two, as in 1/32 of a chang. The other nickname was the chinkang or one Chinese tamlueng. The pit means twenty, as in 1/20 of a chang, the other name is ekkang, or one thai tamlueng. The tot means ten, as in 1/10 of a chang. The coin was also called thukkang, which means two tamlueng. In the lower denominations materials such as tin, copper and brass are used, since these are quite low value.

In 1857, a series of trial coins were produced. But due to the broken and rusted die pieces along with the rusted minting press, the coins of this trial series were not to the satisfaction of Rama IV, hence testing continued. The flawed coins of this series is noted to have an inconsistent and rough "sand-like" texture. In 1857–1860 small amounts of trial circulation coins were produced to circulate within the palace walls, so that the noblemen could give feedback and test the new system.

According to the Thai Treasury, regarding the gold coins, they were minted during a period when large amounts of gold were entering Thailand. Inspired by the widespread use of gold coins in other countries, such as the gold coins of England, King Mongkut (Rama IV) ordered the production of gold coins for domestic use. These coins, with their higher value, facilitated trade as the silver coins in circulation at the time were of lower value. They were officially issued on October 29, 1863, and were withdrawn from use in 1908.

In 1863, following reports of an increase in gold reserves, Rama IV ordered the production of gold coins to supplement the existing silver series. Although intended for general circulation, the coins were unfamiliar to the public and consequently, many coins were converted into jewellery. Fully intact specimens without holes are considered rare today.

In 1866, these thin copper coins, in sik (half-fuang) and siao (quarter-fuang) denominations, were produced to replace their thicker counterparts, which were heavier and had the same value. The decision to issue lighter, thinner coins was made after an incident where King Mongkut (Rama IV) distributed the thicker coins during a charitable event, and recipients were injured with head wounds and bruises. His Majesty considered that the copper coins already bore stamped marks and inscriptions (indicating that 2 coins equalled 1 fuang and 4 coins equalled 1 fuang), making them trustworthy. Therefore, thinner and lighter coins would still serve their purpose effectively without causing harm.

With the crowning of King Rama 5 in 1868, his majesty decided to tackle the massive counterfeiting of base-metal coins in his era. His majesty decided to produce a new large solot (1/128 baht) coin so that the old smaller solot coin were rendered unusable and unprofitable to counterfeit. The large solot coins were only produced for a small period of time, but the coin fulfilled its duties and eliminated a huge portion of counterfeited productions.

These tin coins were extensively counterfeited, and brought in from Hong Kong.

Table for Issue 2 - 1860 - Tributary Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		Solot โสฬส 0 / 0 / ½	3.62g	23mm × 2mm	Unknown	Tin Copper Tin Oxide Alloy	Great Mongkut Seal	Siamese State Ensign สิบ หก อัน เป็น เฟื้อง Sixteen makes a Fuang 1/16 F. 方 片 六 十	1862 production halted November 15, 1868	Bank of Siam
		At อัฐ 0 / 0 / 1	7.61g	29mm × 2mm		Tin Copper Tin Oxide Alloy	Great Mongkut Seal	Siamese State Ensign แปด อัน เปน เฟื้อง Eight makes a Fuang 1/8 F. 方 片 捌	1864
		Siao เสี้ยว 0 / 0 / 2	8.30g (old) 3.90g (new)	22mm × 3mm		Copper (regular circ.) Brass (trial circ.)	Great Mongkut Seal	Siamese State Ensign สี่ อัน เปน เฟื้อง Four makes a Fuang 1/4 F. 方 片 四	December 13, 1865 (thick) March 29, 1866 (thin) demonetized May 17, 1909
		Sik ซีก 0 / 0 / 4	15.8g (old) 7.50g (new)	29mm × 3mm		Copper (regular circ.) Brass (trial circ.)	Great Mongkut Seal	Siamese State Ensign สอง อัน เปน เฟื้อง Two makes a Fuang 1/2 F. 方 片 二	December 13, 1865 (thick) March 29, 1866 (thin) demonetized May 17, 1909
		Half Fueang ครึ่งเฟื้อง 0 / 0 / 4	1.00g	13mm × 1mm		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal	Siamese State Ensign	September 17, 1860 1863 (gold)	Bank of England
		Fueang เฟื้อง 0 / 1 / 0	1.94g	16 × 1		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal ✶ 1 star	Siamese State Ensign ✶ 1 star	1857 (gift from Victoria) September 17, 1860 1863 (gold) demonetized October 1913
		Salueng สลึง 0 / 2 / 0	3.71g	22mm × 1mm		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal ✶✶ 2 stars	Siamese State Ensign ✶✶ 2 stars	1857 (gift from Victoria) September 17, 1860 1863 (gold) demonetized October 1913
		Half Baht ครึ่งบาท 0 / 4 / 0	7.54g	27mm × 1mm		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal ✶✶✶✶ 4 stars	Siamese State Ensign ✶✶✶✶ 4 stars	1857 (gift from Victoria) September 17, 1860 1863 (gold) demonetized October 1913
		Baht บาท 1 / 0 / 0	15.33g	31mm × 1mm		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal ✶✶✶✶✶✶✶✶ 8 stars	Siamese State Ensign ✶✶✶✶✶✶✶✶ 8 stars	1857 (gift from Victoria) September 17, 1860 1863 (gold) demonetized April 1914
		Half Tamlueng กึ่งตำลึง 2 / 0 / 0	30.00g	37mm × 2.5mm		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal ✶✶✶✶✶✶✶✶ ✶✶✶✶✶✶✶✶ 16 stars	Siamese State Ensign ✶✶✶✶✶✶✶✶ ✶✶✶✶✶✶✶✶ 16 stars	1863 demonetized April 1914	Bank of Siam
		Tamlueng ตำลึง 4 / 0 / 0	7.61g	45mm × 4mm		Silver 90.00% (regular circ.) Gold 91.67% (regular circ.) Gold 99.97% (trial circ.)	Great Mongkut Seal	鄭明通寶 zhèng míng tōng bǎo "Zheng Ming Legal Currency" กรุงสยาม Land of Siam	1864
		Paddueng พัดดึงส์ 2 / 4 / 0	1.90g	16mm × 0.8mm		Gold 91.67% (1st circ.) Gold 99.97% (2nd circ.)	Great Mongkut Seal	Siamese State Ensign	1857 demonetized 1908
		Pit พิศ 4 / 0 / 0	3.10g	17mm × 1mm		Gold 91.67% (1st circ.) Gold 99.97% (2nd circ.)	Great Mongkut Seal	Siamese State Ensign	1863 demonetized 1908
		Tot ทศ 8 / 0 / 0	8.00g	22mm × 1mm		Gold 91.67% (1st circ.) Gold 99.97% (2nd circ.)	Great Mongkut Seal	Siamese State Ensign	1863 demonetized 1908
*Baht / Fuang / At - nondecimal notation is used to convey value*

Table for Issue 3 - 1868 - Great Chula Seal Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		Solot โสฬส 0 / 0 / ½	7.50g	32mm × 2mm	Unknown	Tin Copper Tin Oxide Alloy	Great Chula Seal	Siamese State Ensign สิบ หก อัน เป็น เฟื้อง Sixteen makes a Fuang 1/16 F. 方 片 六 十	November 16, 1868 demonetized April 14, 1875	Bank of Siam
		Fueang เฟื้อง 0 / 1 / 0	1.89g	16mm × 1mm		Silver 90.00%	Great Chula Seal ✶ 8 stars	Siamese State Ensign ✶ 8 stars	1869
		Salueng สลึง 0 / 2 / 0	3.82g	22mm × 1mm		Silver 90.00%	Great Chula Seal ✶✶ 8 stars	Siamese State Ensign ✶✶ 8 stars	1869
		Baht บาท 1 / 0 / 0	15.10g	31mm × 1mm		Silver 90.00%	Great Chula Seal ✶✶✶✶✶✶✶✶ 8 stars	Siamese State Ensign ✶✶✶✶✶✶✶✶ 8 stars	1869

Issue 4 – 1875 – Chulalongkorn Monogram Series

The first series to depict king Rama V, the coins of this issue were made of copper, silver, and gold. Though gold was strangely only used for the 1 fueang denomination. The new shield emblem was introduced in this issue. This shield was separated into three section. Drawing from western influences, symbols within these sections represented territories Siam was controlling. The tree-headed elephant represented Siamese territory, the bottom-left elephant represented Lan Xang, and the warangka represented Siamese Malaya.

Due to a malfunction in the minting machinery at the government mint, which prevented the production of circulating coinage, King Chulalongkorn ordered the design of this coin series and commissioned its production by a mint in Birmingham. This marked the first time that coins were minted abroad for circulation in Siam. The copper coins in this issue were made in the same size as the coins of the United Kingdom, with the Solot being the same size as the Farthing, the Att being the same size as the Half-Penny, and the Siao being the same size as the Penny. The silver coins differ in size to the British counterpart due to the baht being pegged to a different unit of silver. The copper coin in this case were base metal and were not pegged to any standard metal, hence their size tend to differ more throughout history. These copper coins only represent a certain amount of silver.

These silver coins were minted when the Sathit Kuang machinery was put into use in 1889 at the Sathit Kuang Coin Mint, marking the beginning of a new coinage system. The year markings started to appear on the coins from R.S. 120 (1898) onwards.

On the use of the national emblem

The national coat of arms used during the reign of Chulalongkorn was designed in 1873 by Pravich Chumsai. The emblem consisted of several symbolic elements representing the monarchy, the Chakri dynasty, and the territories of Siam.

Symbolism of the Coat of Arms

1. The Great Crown of Victory, together with rays and royal umbrellas, represented the monarchy and royal authority.
2. The Chakra and Trident symbolized the Chakri Dynasty.
3. The central shield was divided into three sections:
   • The three-headed elephant Airavata represented Northern, Central, and Southern Siam united as the Kingdom of Siam.
   • The white elephant standing on a pedestal represented Laos, then a tributary state of Siam.
   • The crossed curved and straight daggers represented the Malay tributary states.
4. Supporting figures on each side included:
   • A lion, symbolizing the supremacy of the Ministry of Interior in civil affairs.
   • An elephant-lion, symbolizing the supremacy of the Ministry of Defense in military affairs.
5. The Royal Order of the Nine Jewels represented Buddhism and indicated that recipients were required to be Buddhists according to the Royal Decorations Act. The Order of Chulalongkorn symbolized royal favor toward members of the royal family and individuals who had rendered distinguished service to the kingdom.
6. The motto:

"Sap Phes Song Phutan Samaggi Wutthisadhika"

was composed by Sa and translates as:

"The unity of the people brings about prosperity."

A simplified version of the coat of arms was used on Siamese coinage. This abbreviated national emblem removed the lion, elephant-lion, royal necklaces, motto, and decorative ornaments, leaving only:

• The three-part shield
• Airavata
• The white elephant
• Crossed daggers
• The Chakra and Trident
• The Great Crown of Victory
• Royal umbrellas

This simplified emblem appeared especially on one-baht and two-baht coins. After Siam lost territories to European colonial powers, the emblem was gradually abandoned. These territorial losses included:Luang Prabang, Vientiane, and Champasak which were ceded to France in 1903, along with Burapha territories in 1906, and the four Malay states ceded to United Kingdom in 1909. Following these losses, the national coat of arms was replaced on coins by the Airavata emblem.

Near the end of the reign of King Rama V, coins were designed featuring the King's portrait together with the Airavata emblem, but they were not released into circulation before his death. The national emblem later reappeared on Thai coinage during the reign of Bhumibol Adulyadej. Coins bearing the emblem were issued in:

• 1950 (B.E. 2493)
• 1957 (B.E. 2500)

and on the commemorative coin celebrating the King's return to Bangkok in 1961 (B.E. 2504). In 1962 (B.E. 2505), one-baht nickel circulation coins again used the national coat of arms, although the crown in this version no longer displayed the halo rays found in the earlier design.

Decree of October 29th 1863: Proclaiming sizes and specification of denominations

2nd day of the waning moon of the 11th month in the year of the Pig (5th cycle), equivalent to Oct. 29th, 1863, King Mongkut announced the minting of three gold coins for general use as currency. After pointing out that all important countries issued a gold coinage, but that hitherto Siam had been without one, His Majesty stated that he had issued a Royal Command to the Mint to prepare 3 values of coins, of gold 8.5 fine ("thong kham neiá pát sétsong"), i.e., gold leaf of the Chop Ann Seng, the first equal in value to 8 Ticals silver, the second to 4 Ticals, and the third to 2½ Ticals, the last named to represent the weight of a Chinese "tael". He went on to say that the types of these coins had been borrowed from those of the English sovereign and half-sovereign; but that the latter coins were an alloy of gold and copper, containing of the latter 1 in 12 (i.e. 22 carat gold) for the purpose of hardening the coin. He was afraid, however, that the Siamese folk would askance at gold coins which were not pure.

....

On one side (the obverse) there is a picture of the Royal Crown in the centre. There are Royal Umbrellas supporting it on both sides. There are branches of trees, looking like flames, added to the background of the coin.

On the other side (the reverse) is a picture of the "Chakr". In the heart of the "Chakr" is a picture of an Elephant, symbolical of the Kingdom of Siam. On the outside of the circle round the "Chakr", in the case of the Tical value, are 8 stars, each star representing 1 Fuang; the 2 Salung piece has 4 stars, representing 4 Fuang; the Salung has two stars, and the Fuang 1 star.

— Royal Siamese Government, Decree of October 29th, 1863

Decree of June 29th 1874: Proclaiming the use of temporary paper money, in order to transition into the new series of coins

The tin Atts and Solots which had been minted and put into circulation in the place of cowries in the last reign have been much counterfeited, and when the legal value of the Att was subsequently reduced to twenty cowries, a great many of these coins disappeared, while no more have been manufactured owing to the fact that copper ones could not be produced with the existing machinery. Bigger machines of greater power are being ordered, and as soon as they are installed and ready for working, the Mint will produce such copper coins as will challenge the ingenuity of counterfeiters. At present, however, the public are taxed with the token coins of the gaming house Farmers (Pee, q. v.), which are accepted only in their respective issuing districts and only during their issuers' tenure of the district monopoly. H. M. the King has now been pleased to command the printing of paper "atts", each sealed with the Royal Arms of two different sizes, and all numbered in consecutive order to differentiate them from each other. Should any note be found with the same number as another, the counterfeit note will probably be discovered after a careful examination of the seal-marks and the framework design. These paper "atts" shall be legal currency for the time being until copper coins can be issued after the installation of the new machinery. Anyone having more of them than he needs may present them for payment at the Treasury between 11 A. M. and 3 P. M., and their value will be paid him that same day. Should any of the notes presented be torn in two or more places, it will be accepted as long as the pieces can be formed into one and the same note, and no commission whatever will be charged on its payment.

By command of H. M. the King, therefore, Phya Rajbhakdi Sriratanarajsombat, Knight Grand Cross of the Order of the Crown of Siam and Knight Grand Cross of the Order of Chula Chom Klao, hereby notifies to all, high and low, that, from the first day of the waxing moon in the second eighth month of the year of the Dog, sixth of the current cycle, the Treasury will issue paper "atts" instead of tin coins till the Mint is completely furnished (when copper coins will be manufactured to replace these paper "atts"), and that these paper "atts" may be freely used by the public without fear of loss.

Proclaimed on Monday, the first day of the waning moon in the first eight month of the year of the Dog, sixth of the current cycle, Chula Era 1234, being the seventh year of the present Reign.

— Royal Siamese Government, Decree of June 29th, 1874

Table for Issue 4 - 1875 - Chulalongkorn Monogram Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		Solot โสฬส 0 / 0 / ½	2.5g	20mm × 1mm	2.56 million	Copper	กรุงสยาม (Kingdom of Siam) Monogram of Rama V จ.ป.ร. (มหาจุฬาลงกรณ์ ปรมราชาธิราช) รัชกาลที่ ๕ (5th Reign)	Java Cassia Wreath โสลด ๑๖ อันเฟื้อง Solot, Sixteen makes a Fuang ๑๒๓๖ (CS 1236)	April 14, 1875 – 1883	Bank of Siam
		At อัฐ 0 / 0 / 1	5.5 g	25mm × 1mm	15.3 million	Copper	กรุงสยาม (Kingdom of Siam) Monogram of Rama V จ.ป.ร. (มหาจุฬาลงกรณ์ ปรมราชาธิราช) รัชกาลที่ ๕ (5th Reign)	Java Cassia Wreath อัฐ ๘ อันเฟื้อง At, Eight makes a Fuang ๑๒๓๖ (CS 1236)	April 14, 1875 – 1883
		Siao เสี้ยว 0 / 0 / 2	11.0 g	30.5mm × 2mm	10.2 million	Copper	กรุงสยาม (Kingdom of Siam) Monogram of Rama V จ.ป.ร. (มหาจุฬาลงกรณ์ ปรมราชาธิราช) รัชกาลที่ ๕ (5th Reign)	Java Cassia Wreath เสี้ยว ๔ อันเฟื้อง Siao, Four makes a Fuang ๑๒๓๖ (CS 1236)	April 14, 1875 – 1883
		Sik ซีก 0 / 0 / 4	22.0 g	38.5mm × 2.5mm	Unknown	Copper	กรุงสยาม (Kingdom of Siam) Monogram of Rama V จ.ป.ร. (มหาจุฬาลงกรณ์ ปรมราชาธิราช) รัชกาลที่ ๕ (5th Reign)	Java Cassia Wreath สิ้ก ๒ อันเฟื้อง Sik, Two makes a Fuang ๑๒๓๘ (CS 1238)	April 14, 1875 – 1883
		Fueang เฟื้อง 0 / 1 / 0	1.87 g	16mm × 0.9mm	7.41 million	Silver 90.00%	Rama V's Portrait สมเด็จพระปรมินทรมหาจุฬาลงกรณ์ (His Majesty King Chulalongkorn) พระจุลจอมเกล้าเจ้าอยู่หัว (King Chulalongkorn)	Siamese State Seal กรุงสยาม Siam รัชกาลที่๕ 5th Reign กึ่งตำลึง Half Tamlueng	1875 demonetized May 3, 1909
					3.8 million (dated)			๑๒๐ (RS. 120)	1901–1908 demonetized May 3, 1909
There was a batch of gold fuang coin produced with the exact same specifications in Gold 99.97%
		Salueng สลึง 0 / 2 / 0	3.75 g	20.5mm × 1mm	6.08 million	Silver 90.00%	Rama V's Portrait สมเด็จพระปรมินทรมหาจุฬาลงกรณ์ (His Majesty King Chulalongkorn) พระจุลจอมเกล้าเจ้าอยู่หัว (King Chulalongkorn)	Siamese State Seal กรุงสยาม Siam รัชกาลที่๕ 5th Reign เฟื้องหนึ่ง 1 fueang	1875 demonetized October 1, 1913	Bank of Siam
					2.46 million (dated)			๑๒๐ (RS. 120)	1901–1908 demonetized October 1, 1913
		Baht บาท 1 / 0 / 0	15.0 g	31mm × 2mm	68.5 million	Silver 90.00%	Rama V's Portrait สมเด็จพระปรมินทรมหาจุฬาลงกรณ์ (His Majesty King Chulalongkorn) พระจุลจอมเกล้าเจ้าอยู่หัว (King Chulalongkorn)	Siamese State Seal กรุงสยาม Siam รัชกาลที่๕ 5th Reign บาทหนึ่ง 1 baht	1875 demonetized February 20 1913
					59.1 million (dated)			๑๒๐ (RS. 120)	1901–1908 demonetized February 20 1913
		Half Tamlueng กึ่งตำลึง 2 / 0 / 0	30.0 g	37mm × 3mm	Unknown (never released into circulation)	Silver 90.00%	Rama V's Portrait สมเด็จพระปรมินทรมหาจุฬาลงกรณ์ (His Majesty King Chulalongkorn) พระจุลจอมเกล้าเจ้าอยู่หัว (King Chulalongkorn)	Siamese State Seal กรุงสยาม Siam รัชกาลที่๕ 5th Reign กึ่งตำลึง Half Tamlueng	1877

Issue 5 – 1888 – Siam Devadhiraj Series

Siam at the time of coin issue 5 (1888)

This was a minor issue (not all denominations were updated), in which the lower denominations' designs were updated to incorporate the three-parted shield into the design. This shield is a part of the national seal at the time. This copper coin was produced to replace previous versions and was minted in England, with additional production by the Royal Mint of Thailand. In this issue, depending on where the coin was minted, the minting alignment was different. This means that in this specific series, the alignment will show at which mint the coin was minted. For example, in this series there were four mints which contributed to the minting: Royal Mint of Belgium, Bangkok Mint, Heaton and Sons (Burmingham Mint), and Hamburgische Münze. For the 1 Solot coin, the coin minted in the year R.S. 109 was medal aligned and was minted in the Birmingham Mint, but R.S. 118 coins were minted in Hamburg had coin alignement. Medal alignment is where the portrait of the king is facing up, with the back's design also facing up. Coin alignment is where the sides of the coins' designs are flipped.

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• 
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Excerpt on the sizes of these lower denominations

a new series modelled on the lines of the English copper money current at the time, and also minted in England. this was of 3 values, viz :~ 2 Atts (Sio or Pai), 1 Att, and 1/2 Att (Solot)

— The Siam Society, The Coins of the Bangkok Dynasty, 1782-1924, page 212

Table for Issue 5 - 1888 - Siam Devadhiraj Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		Solot โสฬส 0 / 0 / ½	2.50 g	19mm × 2mm	10.24 million	Copper	Rama V's Portrait Chulalongkorn Rex จุฬาลงกรณ์ ป.ร. King Chula Chomklao of Siam พระจุลจอมเกล้าเจ้ากรุงสยาม	Guardian Deity of Siam's Portrait หนึ่งโสฬศ 1 solot ๑๑๘ (RS 118)	February 6 1888–1905 demonetized May 3, 1909	Bank of Siam
		At อัฐ 0 / 0 / 1	5.67 g	24mm × 2mm	30.72 million	Copper	Rama V's Portrait Chulalongkorn Rex จุฬาลงกรณ์ ป.ร. King Chula Chomklao of Siam พระจุลจอมเกล้าเจ้ากรุงสยาม	Guardian Deity of Siam's Portrait หนึ่งอัฐ 1 at ๑๒๒ (RS 122)	February 6 1888–1905 demonetized May 3, 1909
		Siao เสี้ยว 0 / 0 / 2	11.34 g	30mm × 2mm	10.24 million	Copper	Rama V's Portrait Chulalongkorn Rex จุฬาลงกรณ์ ป.ร. King Chula Chomklao of Siam พระจุลจอมเกล้าเจ้ากรุงสยาม	Guardian Deity of Siam's Portrait หนึ่งเซียว 1 siao ๑๒๒ (RS 122)	February 6 1888–1905 demonetized May 3, 1909

Decimal coinage

The decimalisation of the Thai baht came about at the end of the 19th century. The Minister of Treasury, Jayanta Mongkol, the Prince Mahisara Rajaharudaya, suggested to King Rama V that decimalisation would make counting easier and further modernise Siam. Initially, there would be one superunit, chang, and one subunit, at. with the baht being in the middle. In summary, 64 at = 1 baht = 1/80 chang. In reality, this was just a simplification of the old system, which was scrapped. In which, during the period of 1902–1908, Siam went back to the old system. Though in comparison, at is used as the subunit in Laos, compared to the satang in the Thai baht. The second attempt came at the end of Rama V's reign, where it was more widely accepted and put into effective use.

In 1897, the first coins denominated in satang were introduced, cupronickel 2+1⁄2, 5, 10, and 20 satang. However, 1 solot, 1, and 2 at coins were struck until 1905 and 1 fueang coins were struck until 1910. In 1908, holed 1, 5, and 10 satang coins were introduced, with the 1 satang in bronze and the 5 and 10 satang in nickel. The 1 and 2 salueng were replaced by 25 and 50 satang coins in 1915. In 1937, holed, bronze 1⁄2 satang were issued.

In 1941, a series of silver coins was introduced in denominations of 5, 10, and 20 satang, due to a shortage of nickel caused by World War II. The next year, tin coins were introduced for 1, 5, and 10 satang, followed by 20 satang in 1945 and 25 and 50 satang in 1946. In 1950, aluminium bronze 5, 10, 25, and 50 satang were introduced whilst, in 1957, bronze 5 and 10 satang were issued, along with 1-baht coins struck in an unusual alloy of copper, nickel, silver and zinc. Several Thai coins were issued for many years without changing the date. These include the tin 1942 1 satang and the 1950 5 and 10 satang, struck until 1973, the tin 1946 25 satang struck until 1964, the tin 50 satang struck until 1957, and the aluminium bronze 1957 5, 10, 25, and 50 satang struck until the 1970s. Cupronickel 1-baht coins were introduced in 1962 and struck without date change until 1982.

In 1972, cupronickel 5-baht coins were introduced, switching to cupronickel-clad copper in 1977. Between 1986 and 1988, a new coinage was introduced, consisting of aluminium 1, 5 and 10 satang, aluminium bronze 25 and 50 satang, cupronickel 1 baht, cupronickel-clad copper 5 baht and bimetallic 10 baht. Cupronickel-clad steel 2 baht were introduced in 2005.

Issue 6 – 1897 – Siam Anachak Series (transitional)

The old monetary system of Siam was based on a binary system that proved challenging for accounting purposes. This system initially consisted of three main units of currency: Chang, Baht, and Att. Under this system, there were 64 Att to 1 Baht and 80

Siam at the time of coin issue 6 (1897)

Baht to 1 Chang. Despite its widespread use, the system's complexity made it difficult to manage and calculate. Recognising the inefficiencies, the Minister of Treasury proposed to King Rama V that Siam's currency system should be decimalised. The proposal aimed to modernise the monetary system and align it with the decimal systems increasingly adopted by other countries at the time. King Rama V approved the transition to a decimal-based currency, which simplified accounting processes. The transition to a decimal currency system faced numerous challenges even before the new coins were issued. Notably, the word "Anachak" (อาณาจักร) was initially misspelled as "อานาจักร," causing controversy. King Rama V intervened, insisting that the most accurate phrasing should be "Siam Ratcha-Anachak" (สยามราชอาณาจักร; Kingdom of Siam). Despite the initial enthusiasm for the decimal system, the new coins struggled to gain popularity among the public. Many people were unfamiliar with the decimal system and preferred the traditional currency. Consequently, the new coins quickly faded from circulation, forcing the government to continue producing coins under the old system.

The production of coins from the old system persisted until RS 127 / BE 2451 / AD 1907. Ultimately, both pre-decimal coins and the early decimal coins were demonetised on May 17, RS 128 / BE 2452 / AD 1909. Citizens were given a grace period to exchange the demonetised coins for the new decimal currency, with the deadline set for May 16, RS 128 / BE 2452 / AD 1910. This gradual shift is shown in the fact that coins after the transition often switched between three calendar systems, the CS (Chulasakarat) system, the RS (Rattanakosin Sok) system, the BE (Buddhist Era / Phutthasakarat) system.

During the year 1897, it is presumed that Rama V had arranged this series to be made during his tour in Europe. This series was demonetised in 1908.

Royal Proclamation of 21st. August R. S. 117 (1898) : The proclamation of issuance of decimal currency

Formerly the subsidiary currency had the following values: 800 cowries equal one Fuang, 2 Fuang equal one Salung, 4 Salung equal one Tical. At present we are using the following copper coins as fractions of the Fuang: 4 Atts (Songpai), 2 Atts (pai), 1 Att, and ½ Att (Solot). These were struck on the obverse with the Royal Monogram ร.ป.ร. and the Little Crown above the letter ค, and also with the inscriptions Kingdom of Siam and Fifth Reign; on the reverse with a wreath of laurel leaves, in the middle of which appears the denomination of the particular coin and the date. Their issue was notified in the year of the Pig, Chula Era 1237, and the year of the Rat, Chula Era 1238.

There are also copper coins of another design for the 2 Atts (Pai), the Att, and the ½ Att (Solot) only. These have on the obverse His Majesty's effigy with the following inscription round the border: Chulalongkorn P. R. Phra Chula Chom Klao Chao Krung Siam, and on the reverse the figure representing 'Siam' holding a staff and seated on a shield. Their issue was notified in the year of the Pig, Chula Era 1249.

All these coins are valued in accordance with the original notation. In the accounts the figures of a sum are accordingly entered in three columns: Catties, Bahts, and Atts — 64 Atts, or 6,400 cowries, equalling one Tical and 80 Ticals one Catty, which is the unit. Now the system of keeping accounts is to be changed to a decimal one, reducing the number of columns to two only: Ticals and Satang. The value of a Satang is to be a hundredth part of a Tical, so that the summing up of a number of figures will be a much simpler task.

H. M. the King has therefore been pleased to command the mintage of subsidiary nickel coins of 4 denominations, all having on the obverse the image of the three-headed Elephant and the inscriptions Kingdom of Siam and Year 116, but on the reverse each denomination shall show its respective nominal value in letters and large numerals in the centre, thus twenty Satang, 20; ten Satang, 10; five Satang, 5; and two and a half Satang, 2½.

Being free from oxidisability and very portable, these nickel coins will form a more suitable currency than the copper ones. Both kinds of the latter will, however, still be legal token coins for their original nominal value, side by side with those of the Satang denominations, and the one may be freely demanded from the Treasury in exchange for the other at its full proportionate nominal value.

On and from the 21st. September R. S. 117 (1898), the nickel coins shall be current at their respective values mentioned above.

Proclaimed on 21st. August R. S. 117 (1898), being the 10,874th. day of the present Reign.

— Royal Siamese Government, Royal Proclamation of 21st. August R. S. 117 (1898)

Table for Issue 6 - 1897 - Siam Anachak Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		2.5 satang	2.06 g	16mm × 1.0mm	3.12 million	Cupronickel	Erawan (Airavata) Portrait in Wreath Kingdom of Siam สยามอานาจักร ศก๑๑๖ (RS 116)	สองสตางค์ครึ่ง two and a half satang ๒ ๑/๒ 2½ H (Heaton Mint)	September 21, 1897 demonetized May 17, 1909	Bank of Siam
		5 satang	3.02 g	20mm × 1.0mm	3.81 million	Cupronickel	Erawan (Airavata) Portrait in Wreath Kingdom of Siam สยามอานาจักร ศก๑๑๖ (RS 116)	ห้าสตางค์ five satang ๕ 5 H (Heaton Mint)	September 21, 1897 demonetized May 17, 1909
		10 satang	4.00 g	22mm × 1.0mm	5.08 million	Cupronickel	Erawan (Airavata) Portrait in Wreath Kingdom of Siam สยามอานาจักร ศก๑๑๖ (RS 116)	สิบสตางค์ ten satang ๑๐ 10 H (Heaton Mint)	September 21, 1897 demonetized May 17, 1909
		20 satang	6.57 g	25mm × 1.5mm	5.08 million	Cupronickel	Erawan (Airavata) Portrait in Wreath Kingdom of Siam สยามอานาจักร ศก๑๑๖ (RS 116)	ยี่สิบสตางค์ twenty satang ๒๐ 20 H (Heaton Mint)	September 21, 1897 demonetized May 17, 1909

Siam at the time of coin issue 7 (1900)

Issue 7, 8, 9 – 1908 to 1937 – Chakra Series

This series is a widely minted and used series during the era of Rama V to Rama VIII. This series is also notable for being minted in many countries, in which the Siamese government would commission mints around the world to produce Thai coins and repatriate them back into the country and subsequently into circulation. The designs would vary between mints such as on the 1 satang coin, the font of the texts and the date would have slightly different positioning or texture.

On the Airavata emblem used in issue 7 to 9

The Airavata Seal depicts a three-headed elephant adorned with royal regalia facing forward. Airavata is the mount of Indra. Originally, the seal was used as the emblem of the ruler known as Phra Indra Raja. Later, it became one of the royal seals of Siam. Some versions depicted Indra riding the elephant, while others showed only the elephant itself. The seal was used for stamping royal letters, proclamations, and official state documents.

The emblem was also associated with the Chakri Dynasty. During the reign of Mongkut, new Airavata royal seals were created for official use. Three versions were produced: a large seal, a medium seal, and a small seal.

According to the Royal Seal Act of 122 BE, the large royal seal was used for major royal proclamations and was placed between the Maha Ongkan royal seal and the Garuda royal seal. The medium royal seal was used for royal decrees and official accompanying documents, including the Suphannabat, Hiranyabat, and certificates. The Nine-Jewel Royal Seal was positioned between the Great Royal Decree seal and the Garuda seal.

The Airavata emblem later appeared on Siamese silver coins of the one-baht, two-salung, and one-salung denominations during the late reign of Chulalongkorn and continued into the reign of Vajiravudh.

Mints Involved

Source:

• Royal Thai Mint
• Heaton and Sons (The Mint Birmingham Limited)
• Japan Mint
• Royal Mint of Belgium
• United States Mint of Philadelphia

Following the issue of an earlier proclamation, accounts in Siam continued to be kept in ticals and att until after the enactment of the Gold Standard Act on 11 November 1908 (R.S. 127). After this date, the currency system was changed to a decimal system, and a new series of satang coins was introduced. At the same time, earlier nickel coins were withdrawn from circulation.

A new series of satang coins, minted in Europe, entered circulation in 1908 (R.S. 127) in connection with the Gold Standard Act. The series consisted of three denominations: 1, 5, and 10 satang. All three coins had a round central hole. Two denominations were struck in nickel, and one in copper. In 1909 (R.S. 128), a modification was made to the obverse design. The letters indicating the Ratanakosin Era (R.S.) were removed, leaving only the numerals of the date. This form continued into 1910. In 1913, the Buddhist Era replaced the Ratanakosin Era in coin dating. Coins issued thereafter bore dates such as B.E. 2456, corresponding to A.D. 1913. The coins were minted until 1937.

Table for Issue 7.1 - 1908 - Holed Coin Series
Image		Denomination	Weight	Dimensions	Mintages	Compositions	Inscriptions		Date of Issue	Designer / Sculptor
Obverse	Reverse						Obverse	Reverse
		1 satang	5.00 g	22.5mm × 1mm	~ 200 million	Bronze-copper-zinc	Chakra พ.ศ. ๒๔๗๐ (B.E. 2470)	Unalom Symbol สยามรัฐ ๑ สตางค์ Siamese State 1 satang	November 11, 1908 – 1937	Bank of Siam
					~ 23 million			Unalom Symbol รัฐบารไทย ๑ สตางค์ Thai Government 1 satang	1939
		5 satang	2.00 g	17.5mm × 1mm	5.08 million	Nickel	Chakra พ.ศ. ๒๔๗๐ (B.E. 2470)	Unalom Symbol สยามรัฐ ๕ สตางค์ Siamese State 5 satang	November 11, 1908 – 1937
		10 satang	3.50 g	20mm × 1mm	5.08 million	Nickel	Chakra พ.ศ. ๒๔๗๐ (B.E. 2470)	Unalom Symbol สยามรัฐ ๑๐ สตางค์ Siamese State 10 satang	November 11, 1908 – 1937
		50 satang	7.68 g	25mm × 1mm	Unknown	Silver 90.00%	Rama V's Portrait สมเด็จพระปรมินทรมหาจุฬาลงกรณ์ (His Majesty King Chulalongkorn) พระจุลจอมเกล้าเจ้าอยู่หัว (King Chulalongkorn)	Siamese State Seal กรุงสยาม Siam รัชกาลที่๕ 5th Reign ๕๐ สตางค์ 50 satang	1908

Issue 7 – 1908 – Mustache Series

In 1908, the Siamese government commissioned the Monnaie de Paris mint to produce a new series of coins for Rama V. These coins were engraved by A. Patey and became the most popular coins to collect amongst the collector today, though with massive conterfeit problems. The coins' shipment were delayed and were shipped to Siam around the time of the passing of Rama V, and so the coins were never put in to circulation. With this, the mint saw fit that the designs were to be adapted to depict Rama VI.

Issue 7 coins [The Mustache Series]
Image		Value	Dimensions (mm)	Weight (g)	Mintage		Composition	Inscription, description		Date of issue
Obverse	Reverse				Amount	Date		Obverse	Reverse
		25 satang	20 × 1.3	3.75	unknown	RS.127	Silver 0.900	Rama V's Portrait + จุฬาลงกรณ์ สยามินทร์ (Chulalongkorn, Lord of Siam)	Erawan (Airavata) Portrait + สยามรัฐ ร.ศ.๑๒๘ (Siamese State RS 128) ๔๒ (42nd year of reign) หนึ่ง สลึง (1 salueng)	1909
		50 satang	25.3 × 1.3	7.5					Erawan (Airavata) Portrait + สยามรัฐ ร.ศ.๑๒๘ (Siamese State RS 128) ๔๒ (42nd year of reign) สอง สลึง (2 salueng)
		1 baht	30 × 3	16					Erawan (Airavata) Portrait + สยามรัฐ ร.ศ.๑๒๗ (Siamese State RS 127) ๔๑ (41st year of reign) หนึ่ง บาท (1 baht)	1908

Issue 8 – 1913 – Erawan Series

These coins were all produced abroad, and they feature changes in year formatting and design differences over time. The coins were initially produced with the R.S. year system but transitioned to using the B.E. system from 1913 onwards. The 1 Baht coins were replaced with banknotes starting in 1918 due to the high cost of silver. The 2 Salung and 1 Salung coins experienced changes in metal composition due to fluctuating silver prices during World War I, and these coins have slight design variations based on these changes.

During issue, there were also various debasements of the silver content of these coins. Initially, the composition was 80% silver and 20% copper. In 1918, during World War I, silver prices surged, leading to a change in the composition to 65% silver and 35% copper. In 1919, the silver percentage dropped further to 50% silver and 50% copper. After the war, in 1919, the composition returned to 65% silver and 35% copper. In 1917, the price of silver rose and exceeded the face value of silver coins. The coins were then melted down and sold. The government solved this by changing the pure silver coin to alloy. Vajiravudh eventually forbade exports of Siamese coins. In 1918, the usage of 1-baht coins was nullified and 1-baht banknotes were introduced. Coins were recalled and kept as a national reserve.

Issue 8 coins (Rama VI) [The Erawan Series]
Image		Value	Dimensions (mm)	Weight (g)	Mintage		Composition (Silver:Copper)	Inscription, description		Date of issue
Obverse	Reverse				Amount	Date		Obverse	Reverse
		25 satang	20 × 1.3	3.75	~ 18 million	BE.2458 to BE.2468	Silver 0.800 1915 Silver 0.650 1916–1918 Silver 0.500 1919 Silver 0.650 1920–1925	Rama VI's Portrait + วชิราวุธ สยามินทร์ (Vajiravud Lord of Siam)	Erawan (Airavata) Portrait + สยามรัฐ ๒๔๖๘ (Siamese State BE 2468) หนึ่ง สลึง (1 salueng)	November 11, 1913
		50 satang	25.3 × 1.3	7.5	~ 15 million	BE.2458 to BE.2462	Silver 0.800 1915 Silver 0.650 1916–1918 Silver 0.500 1919 Silver 0.650 1920–1921		Erawan (Airavata) Portrait + สยามรัฐ ๒๔๕๘ (Siamese State BE 2458) สอง สลึง (2 salueng)
		1 baht	30.5 × 1	15	~ 37 million	BE.2456 to BE.2461	Silver 0.900		Erawan (Airavata) Portrait + สยามรัฐ ๒๔๖๐ (Siamese State BE 2460) หนึ่ง บาท (1 baht)

Issue 9 – 1929 – Regalia Elephant Series

Near the end of this issue of coins, the transition into decimal currency was completed. The Rama VII coin was produced in two denominations, 50 Satang and 25 Satang, and marked the transition from the old currency system of "สองสลึง" (two salung) and "หนึ่งสลึง" (one salung) to the new system using Satang as a unit of currency. Though, people today still refer to these denomination using the old terminology.

Issue 9 coins (Rama VII) [The Regalia Elephant Series]
Image		Value	Dimensions (mm)	Weight (g)	Mintage		Composition	Inscription, description		Date of issue
Obverse	Reverse				Amount	Date		Obverse	Reverse
		25 satang	20 × 1.3	3.75	unknown	BE.2472	Silver 0.650	Rama VII's Portrait + ประชาธิปก สยามินทร์ (Prajadipok, Lord of Siam)	Elephant in Regalia + สยามรัฐ ๒๔๗๒ (Siamese State BE 2472) ๒๕ ส.ต. (25 satang)	March 11, 1930
		50 satang	25.3 × 1.3	7.5					Elephant in Regalia + สยามรัฐ ๒๔๗๒ (Siamese State BE 2472) ๕๐ ส.ต. (50 satang)

On the use of the Regalia Elephant seals

The White Elephant Seal standing on a pedestal appeared as the national emblem on Siamese silver coins of the 50 satang and 25 satang denominations during the reign of Prajadhipok in 1929 (B.E. 2472). This was the only time this emblem appeared on circulating coinage.

The emblem is believed to have originated from the Flag Act of Rattanakosin Era 118. One section of the law states"

"...During the reign of His Majesty King Mongkut, it was considered that the plain red flag used by Siamese merchant ships was inappropriate because it resembled the flags of other nations and was difficult to distinguish. It was therefore deemed proper to use a flag bearing an emblem similar to those used by royal ships. However, the Chakra symbol was considered too sacred for common people to use. His Majesty therefore issued a royal command to remove the Chakra, leaving only the white elephant on a red background for use by both royal and civilian vessels..."

This passage explains that during the reign of Mongkut, Siam adopted the white elephant emblem as a national symbol for maritime identification while reserving the sacred Chakra emblem for royal use only.

Issue 10 – 1937, 1941, 1942, 1945 – Kranok-lotus Series

Siam at the time of coin issue 10 (1945)

This series of coins is distinctive as it lacks the royal insignia and the state seal, which were commonly featured in earlier designs. This series also includes a 20 satang denomination; thus at one point the 25-satang and the 20-satang circulated at the same time. The half-satang was introduced in 1937 to address the issue of low-value currency units in Thailand. The value of 1 Satang was considered too high for certain low-priced items, causing economic hardship for the poor. Previously, 1 Baht could be exchanged for 128 Solot, but after the switch to Satang, 1 Baht was only equivalent to 100 Satang. The introduction of this coin aimed to make it easier for ordinary people to purchase items without the burden of inflated prices. The coin was produced only once and was discontinued soon afterwards. It was minted in Japan and first issued on July 12, 1937.

In 1942, a group of denominations switched material due to the costs of World War II: the 1-satang coin lost its hole in the middle and was made smaller.

Issue 10 coins (Rama VIII) [The Kranok-Lotus Series]
Image		Value	Dimensions (mm)	Weight (g)	Mintage	Composition	Inscription, description		Date of issue
Obverse	Reverse						Obverse	Reverse
		0.5 satang	19 × 1.3	1.8	12.09 million	Bronze	Chakra + พ.ศ. ๒๔๘๐ (B.E. 2480)	Unalom Symbol + สยามรัฐ ๑/๒ สตางค์ (Siamese State 1/2 satang)	July 12, 1937
		1 satang	22.5 × 1.3	3.5	23.37 million		Lotus Flower + พ.ศ.๒๔๘๔ (BE 2484)	Kranok pattern + ๑ สต. (1 satang) รัฐบาลไทย (Thai Government)	January 8, 1941
			15 × 2	1.5	140 million	Tin			April 17, 1942
					11.9 million			Arabic Numeral Issue	1944
		5 satang	16.6 × 1.3	1.5	1.88 million	Silver 0.650		Kranok pattern + ๕ สต. (5 satang) รัฐบาลไทย (Thai Government)	January 8, 1941
			17.5 × 2	3	2.47 million	Tin			December 10, 1942
					3.1 million			Arabic Numeral Issue	1944
		10 satang	19 × 1.3	2.5	3.04 million	Silver 0.650		Kranok pattern + ๑๐ สต. (10 satang) รัฐบาลไทย (Thai Government)	January 8, 1941
			20 × 2	5	1.80 million	Tin			December 10, 1942
					6.59 million			Arabic Numeral Issue	1944
		20 satang	22 × 1.3	3	0.75 million	Silver 0.650		Kranok pattern + ๑๐ สต. (20 satang) รัฐบาลไทย (Thai Government)	June 20, 1942
			22 × 2	6	4.65 million	Tin			January 12, 1945
								never had a Thai numeral tin issue

Siam at the time of coin issue 11 (1946)

Issue 11 – 1946 – Garuda Series

This was the first series minted in the reign of King Ananda Mahidol (Rama VIII), and it marked the return of national symbols, such as the Garuda emblem, which had been used as the national seal since the Ayutthaya period. This emblem, created during

the reign of King Chulalongkorn (Rama V), became the national seal to be used permanently, avoiding the need for a new one with each reign. There are two versions of this series minted in the same year, the young portrait and the teen portrait.

After World War 2, the government instructed the mint to start the production of coins depicting Rama VIII, since prior to this coins with no royal portrait were minted. These coins were made with pure tin. These coins were made with particularly low quality tin. During circulation, a lot of the coins from this series were damaged, lost, or rendered unusable. Even so, after the death of Rama VIII, the mint continue to produce this series of coins until the burial of Rama VIII, a tradition seen in the latest series of coins where new series were not introduced until after the coronation. Thus, this series of coins were used for 4 years after the passing of King Ananda Mahidol (Rama VIII).

While this series lacks a circulating 1 baht coin, a trial piece were produced but never released into circulation., the coin was 30.5 mm in diameter and made with tin. As a reference, this is the size of 5 baht coin up until issue 16 coins, or the last Rama 9 series of coins.

Issue 11 coins (Rama VIII) [The Garuda Series]
Image			Value	Dimensions (mm)	Weight (g)	Mintage (young & teen issue)	Composition	Inscription, description		Date of issue
Young Portrait	Teen Portrait	Reverse						Obverse	Reverse
			5 satang	15 × 1.3	1.3	28.6 million	Tin-Copper 90:10	Rama VIII's Portrait + อานันทมหิดล (Ananda Mahidol) รัชกาลที่ ๘ (8th Reign)	Garuda + รัฐบาลไทย (Thai Government) ๕ สต. (5 satang) พ.ศ.๒๔๘๙ (BE 2489)	1946
			10 satang	17.7 × 1.3	1.8	53.5 million			Garuda + รัฐบาลไทย (Thai Government) ๑๐ สต. (10 satang) พ.ศ.๒๔๘๙ (BE 2489)
			25 satang	21 × 1.5	2.8	235 million			Garuda + รัฐบาลไทย (Thai Government) ๒๕ สต. (25 satang) พ.ศ.๒๔๘๙ (BE 2489)
			50 satang	25.5 × 1.5	5	19.7 million			Garuda + รัฐบาลไทย (Thai Government) ๕๐ สต. (50 satang) พ.ศ.๒๔๘๙ (BE 2489)

On the use of the Garuda emblem

Vajiravudh ordered the creation of the Garuda Seal (Phra Khrut Pha) as the national royal seal. He reasoned that the royal seal used for endorsing royal signatures on important state documents had to be recreated every time a new reign began. Since the Garuda seal had served as a royal seal since the Ayutthaya Kingdom period, he considered it appropriate to establish it permanently as the national seal so that it would no longer need to be changed with each reign. As a result, the Garuda Seal became the national emblem of Siam from 1911 onward and has remained so to the present day.

The Garuda Seal symbolizes Narayana, regarded in Brahmanic tradition as a supreme deity. The Siamese king was viewed as a divine incarnation, and the Garuda, the mount of Narayana, was therefore adopted as the royal emblem. The seal was used as the national seal and for sealing royal correspondence and international treaties.

Over time, both the appearance and use of the seal evolved. Originally, the design depicted Narayana riding the Garuda, while the Garuda grasped naga serpents. This form was used for proclamations and was positioned to the right of the Airavata royal seal. Later, during the reign of Chulalongkorn, the King wished to use the Garuda emblem instead of the royal coat of arms as the seal accompanying the royal signature. He therefore ordered Narisara Nuwattiwong to redesign the emblem. The new version removed the figure of Narayana and retained only the Garuda. This design became known as the "Central Garuda Seal" and was used to accompany the royal signature.

The Garuda Seal first appeared on Thai banknotes during the reign of Vajiravudh on the first one-baht banknote series issued on October 3, 1918, under the supplementary Banknote Act.

The national Garuda emblem first appeared on Siamese coinage during the reign of Ananda Mahidol, and later appeared again on certain coins issued during the reign of Bhumibol Adulyadej.

Issue 12 – 1950 – State Ensign Series

Issue 12 coins (Rama IX) [The State Ensign Series]
Image		Value	Dimensions (mm)	Weight (g)	Mintage	Composition	Inscription, description		Designer & Engraver	Date of issue
Obverse	Reverse						Obverse	Reverse
		5 satang	15 × 1	1.25	21.8 million	Aluminium bronze	ภูมิพลอดุลยเดช (Bhumibol Adulyadej) รัชกาลที่ ๙ (9th Reign)	State Emblem + รัฐบาลไทย (Thai Government) ๕ สต. (5 satang) พ.ศ.๒๕๐๐ (BE 2500)	Obverse Fine Arts Department กรมศิลปากร Reverse San Tesasiri สานต์ เทศะศิริ	September 11, 1951 (Cu) December 8, 1954 (Sn) March 18, 1957 (Al-Bz)
					6.48 million	Tin
					46.44 million	Bronze
		10 satang	17.5 × 1	1.75	17.4 million	Aluminium bronze		State Emblem + รัฐบาลไทย (Thai Government) ๑๐ สต. (10 satang) พ.ศ.๒๕๐๐ (BE 2500)	Obverse Fine Arts Department กรมศิลปากร Reverse San Tesasiri สานต์ เทศะศิริ	September 11, 1951 (Cu) December 8, 1954 (Sn) March 18, 1957 (Al-Bz)
					13.99 million	Tin
					13.37 million	Bronze
		25 satang	20 × 1	2.5	634.65 million	Aluminium bronze		State Emblem + รัฐบาลไทย (Thai Government) ๒๕ สต. (25 satang) พ.ศ.๒๕๐๐ (BE 2500)	Obverse Fine Arts Department กรมศิลปากร Reverse San Tesasiri สานต์ เทศะศิริ	September 11, 1950
		50 satang	23 × 1.7	4.5	460 million			State Emblem + รัฐบาลไทย (Thai Government) ๕๐ สต. (50 satang) พ.ศ.๒๕๐๐ (BE 2500)
		1 baht	27 × 1.8	7.15	3.14 million	Silver 0.030		State Emblem + รัฐบาลไทย (Thai Government) หนึ่ง บาท (1 baht) พ.ศ.๒๕๐๕ (BE 2505)	Obverse Fine Arts Department กรมศิลปากร Reverse Charoon Pienlikhit จรูญ เพียรลิขิต	January 28, 1957
				7.5	883 million	Cupronickel			Obverse San Tesasiri สานต์ เทศะศิริ Reverse San Tesasiri สานต์ เทศะศิริ	December 4, 1962

Issue 13 – 1972

Issue 13 coins (Rama IX)
Image		Value	Dimensions (mm)	Weight (g)	Mintage	Composition	Inscription, description		Designer & Engraver	Date of issue
Obverse	Reverse						Obverse	Reverse
		1 baht	25 × 1.8	7	248.9 million	Cupronickel	ภูมิพลอดุลยเดช (Bhumibol Adulyadej) รัชกาลที่ ๙ (9th Reign)	State Emblem + รัฐบาลไทย (Thai Government) ๑ บาท (1 baht) พ.ศ.๒๕๑๗ (BE 2517)	Obverse Paithoonsri Deepanawong ไพฑูรย์ศรี ดีปานวงศ์ Reverse Pranee Klaycheewong ปราณี คล้ายเชื้อวงศ์ Montri Deepanawong มนตรี ดีปานวงศ์	April 25, 1974
		5 baht	28 × 2.0	9	30 million			State Emblem + รัฐบาลไทย (Thai Government) ๕ บาท (5 baht) พ.ศ.๒๕๑๕ (BE 2515)	Obverse San Tesasiri สานต์ เทศะศิริ Paitoon Muangsomboon ไพฑูรย์ เมืองสมบูรณ์ Reverse San Tesasiri สานต์ เทศะศิริ Paitoon Muangsomboon ไพฑูรย์ เมืองสมบูรณ์	February 8 1972

Issue 14 – 1977

Issue 14 coins (Rama IX)
Image		Value	Dimensions (mm)	Weight (g)	Mintage	Composition	Inscription, description		Designer & Engraver	Date of issue
Obverse	Reverse						Obverse	Reverse
		25 satang	20.5 × 1.2	2.8	183 million	Aluminium bronze	ประเทศไทย (Thailand) รัชกาลที่ ๙ (9th Reign)	Rice Stalks + ๒๕ สตางค์ (25 satang) พ.ศ.๒๕๒๑ (BE 2521)	Obverse Supap Unaree สุภาพ อุ่นอารีย์ Montri Deepanawong มนตรี ดีปานวงศ์ Reverse Supap Unaree สุภาพ อุ่นอารีย์ Somchai Nuansakul สมชัย นวลสกุล	October 15, 1977
		50 satang	23 × 1.2	4.9	122 million			Rice Stalks + ๕๐ สตางค์ (50 satang) พ.ศ.๒๕๒๓ (BE 2523)		July 21, 1980
		1 baht	25 × 1.8	7	506 million	Cupronickel		Suphannahong Procession + ๑ บาท (1 baht) พ.ศ.๒๕๒๐ (BE 2520)	Obverse Supap Unaree สุภาพ อุ่นอารีย์ Montri Deepanawong มนตรี ดีปานวงศ์ Reverse Supap Unaree สุภาพ อุ่นอารีย์ Winai Chalokul วินัย ชโลกุล	December 21, 1977
		5 baht	30 × 2.3	12	100 million	Cupronickel-clad copper		State Emblem + ๕ บาท (5 baht) พ.ศ.๒๕๒๒ (BE 2522)	Obverse Supap Unaree สุภาพ อุ่นอารีย์ Montri Deepanawong มนตรี ดีปานวงศ์ Reverse San Tesasiri สานต์ เทศะศิริ Montri Deepanawong มนตรี ดีปานวงศ์	August 30, 1977

Issue 15 – 1982

Issue 15 coins (Rama IX)
Image		Value	Dimensions (mm)	Weight (g)	Mintage	Composition	Inscription, description		Date of issue
Obverse	Reverse						Obverse	Reverse
		1 baht	25 × 1.8	7	257 million	Cupronickel	ภูมิพลอดุลยเดช (Bhumibol Adulyadej) รัชกาลที่ ๙ (9th Reign)	Grand Palace + ประเทศไทย (Thailand) ๑ บาท (1 baht) พ.ศ.๒๕๒๕ (BE 2525)	1982
		5 baht	30 × 2.3	12	26.4 million	Cupronickel-clad copper		State Emblem + ประเทศไทย (Thailand) ๕ บาท (5 baht) พ.ศ.๒๕๒๕ (BE 2525)

Issue 16 – 1987, 1988, 2005, 2008

Issue 16 coins (Rama IX)
Image		Value	Dimensions (mm)	Weight (g)	Mintage	Composition	Inscription, description		Date of issue
Obverse	Reverse						Obverse	Reverse
Limited-Circulation Coin
		1 satang	15 × 1	0.5	1.99 million	Aluminium-manganese Alloy	ภูมิพลอดุลยเดช (Bhumibol Adulyadej) รัชกาลที่ ๙ (9th Reign)	Phra That Hariphunchai + ประเทศไทย (Thailand) ๑ สตางค์ 1 (1 satang) พ.ศ.๒๕๔๗ (BE 2547)	1987
					90,000	Aluminium			2008
		5 satang	16 × 1	0.6	2.87 million	Aluminium-manganese Alloy		Wat Phra Pathommachedi + ประเทศไทย (Thailand) ๕ สตางค์ 5 (5 satang) พ.ศ.๒๕๓๘ (BE 2538)	1987
			16.5 × 1		90,000	Aluminium			2008
		10 satang	17.5 × 1	0.8	2.43 million	Aluminium-manganese Alloy		Wat Phra That Choeng Chum + ประเทศไทย (Thailand) ๑๐ สตางค์ 10 (10 satang) พ.ศ.๒๕๔๒ (BE 2542)	1987
					90,000	Aluminium			2008
Full-Circulation Coin
		25 satang	16 × 1.35	1.9	2.082 billion	Aluminium bronze	ภูมิพลอดุลยเดช (Bhumibol Adulyadej) รัชกาลที่ ๙ (9th Reign)	Wat Phra Mahathat + ประเทศไทย (Thailand) ๒๕ สตางค์ 25 (25 satang) พ.ศ.๒๕๔๗ (BE 2547)	1987
					2.161 billion	Copper-plated steel			2008
		50 satang	18 × 1.35	2.4	1.544 billion	Aluminium bronze		Doi Suthep Chedi + ประเทศไทย (Thailand) ๕๐ สตางค์ 50 (50 satang) พ.ศ.๒๕๓๘ (BE 2538)	1987
					1.453 billion	Copper-plated steel			2008
		1 baht	20 × 1.5	3.4	9.116 billion	Cupronickel		Wat Phra Kaew + ประเทศไทย (Thailand) ๑ บาท (1 baht) พ.ศ.๒๕๔๒ (BE 2542)	1987
				3	7.089 billion	Nickel-plated steel			2008
		2 baht	22 × 2.8	7.5	unknown	Cupronickel-clad copper		ประเทศไทย (Thailand) ๒ บาท 2 (2 baht)	1985–1996 (special circ. issues)
			21.75 × 1.8	4.4	399.9 million	Nickel-plated steel		Golden Mountain + ประเทศไทย (Thailand) ๒ บาท 2 (2 baht) พ.ศ.๒๕๔๙ (BE 2549)	2005
			21.75 × 1.5	4	1.712 billion	Aluminium bronze			2008
		5 baht	24 × 2.2	7.5	44 million	Cupronickel-clad copper		Suphannahong Procession + ประเทศไทย (Thailand) ๕ บาท (5 baht) พ.ศ.๒๕๓๐ (BE 2530)	1987
					1.622 billion			Wat Benchamabophit + ประเทศไทย (Thailand) ๕ บาท (5 baht) พ.ศ.๒๕๓๐ (BE 2530)	1988
			24 × 1.75	6	2.018 billion				2008
		10 baht	26 × 2.15	8.5	1.082 billion	Aluminium bronze (centre) Cupronickel (ring)		Wat Arun + ประเทศไทย(Thailand) ๑๐ บาท 10 (10 baht) พ.ศ.๒๕๔๕ (BE 2545)	1988
					826.9 million				2008

Current coinage

The current coin series is the 17th issue.

In 2008, in the 16th issue, the Ministry of Finance and the Royal Thai Mint announced the 2009 coin series, which included changes in materials to reduce production costs as well as an update of the image on the obverse to a more recent portrait of the king. The two-baht coin, confusingly similar in colour and size to the one-baht coin, was changed from nickel-clad low-carbon steel to aluminium bronze. New two-baht coin was the first of the new series released on 3 February 2009, followed by the satang coins in April, a five-baht coin in May, a ten-baht coin in June, and a one-baht coin in July 2009.

In 2018, the Royal Thai Mint and the Ministry of Finance issued a new series of general circulation coins, featuring the same standard specifications, but feature a portrait of its current king, Vajiralongkorn.

Issue 16 – 1987, 2009

Issue 16 coins (Rama IX)
Value	Technical parameters			Description		Date of first minting
	Diameter	Mass	Composition	Obverse	Reverse
1 satang1	15 mm	0.5 g	97.5% Al, 2.5% Mg	King Bhumibol Adulyadej	Wat Phra That Hariphunchai, Lamphun	1987
			99% Aluminium			2008
5 satang1	16 mm	0.6 g	97.5% Al, 2.5% Mg	King Bhumibol Adulyadej	Wat Phra Pathom Chedi, Nakhon Pathom	1987
	16.5 mm		99% Aluminium			2008
10 satang1	17.5 mm	0.8 g	97.5% Al, 2.5% Mg	King Bhumibol Adulyadej	Wat Phra That Choeng Chum, Sakon Nakhon	1987
			99% Aluminium			2008
25 satang	16 mm	1.9 g	Aluminium bronze	King Bhumibol Adulyadej	Wat Phra Mahathat, Nakhon Si Thammarat	1987
	16 mm	1.9 g	Copperplated steel	King Bhumibol Adulyadej	Wat Phra Mahathat, Nakhon Si Thammarat	2008
50 satang	18 mm	2.4 g	Aluminium bronze	King Bhumibol Adulyadej	Wat Phra That Doi Suthep, Chiang Mai	1987
	18 mm	2.4 g	Copperplated steel	King Bhumibol Adulyadej	Wat Phra That Doi Suthep, Chiang Mai	2008
1 baht	20 mm	3.4 g	Cupronickel	King Bhumibol Adulyadej	Wat Phra Kaew, Bangkok	1987
		3 g	Nickelplated steel			2008
2 baht	21.75 mm	4.4 g	Nickelplated low-carbon steel	King Bhumibol Adulyadej	Wat Saket, Bangkok	2005
	21.75 mm	4 g	Aluminium bronze	King Bhumibol Adulyadej	Wat Saket, Bangkok	2008
5 baht	24 mm	7.5 g	Cupronickel-clad copper	King Bhumibol Adulyadej	Wat Benchamabophit, Bangkok	1988
		6 g				2008
10 baht	26 mm	8.5 g	Center plug: Aluminium bronze Outer ring: Cupronickel	King Bhumibol Adulyadej	Wat Arun, Bangkok	1988
						2008

Issue 17 – 2018

Issue 17 coins (Rama X)
Image		Value	Composition	Description		Date of first minting
Obverse	Reverse			Obverse	Reverse
		1 satang1	Aluminium	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		5 satang1	Aluminium	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		10 satang1	Aluminium	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		25 satang	Copperplated steel	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		50 satang	Copperplated steel	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		1 baht	Nickelplated steel	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		2 baht	Aluminium bronze	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		5 baht	Cupronickel-clad copper	King Vajiralongkorn	Monogram of Vajiralongkorn	2018
		10 baht	Center plug: Aluminium bronze Outer ring: Cupronickel	King Vajiralongkorn	Monogram of Vajiralongkorn	2018

Remarks

1. The 1, 5 and 10 satang are used only internally between banks and are not in circulation.
2. Older coins, some of which are still in circulation, had only Thai numerals, but newer designs also have Arabic numerals.
3. The standard-issue 10-baht coin has, at the 12 o'clock position on the reverse, raised dots corresponding to Braille cell dot 1 and dots 2–4–5, which correspond to the number 10.
4. 10-baht coins are very similar to 2-euro coins in size, shape and weight, and are likewise bi-metallic, although they are worth only about €0.25. Vending machines not equipped with up-to-date coin detectors might therefore accept them as €2 coins or old Italian 500 lira coins as well.
5. Many commemorative 1-, 2-, 5- and 10-baht coins have been made for special events. There also are 20-, 50-, 100-baht base metal commemorative coins and higher-denomination precious metal coins as well.

In February 2010 the Treasury Department of Thailand stated that it has been planning a new circulation 20-baht coin.

Monarch's profile

Rama IV

• 
  1857
• 
  1862

Rama V

• 
  1869
• 
  1875
• 
  1875
• 
  1888
• 
  1897
• 
  1908

Rama VI, VII, and VIII

• 
  1910
• 
  1913
• 
  1929
• 
  1941
• 
  1946
• 
  1946

Rama XI and X

• 
  1957
• 
  1962
• 
  1972
• 
  1977
• 
  1982
• 
  2018

Names used on coins

Thai kings traditionally had 2 names: regnal, and personal. In everyday life, personal name are used more often than regnal names. A good example of this is King Narai, whose regnal name is King Ramathobodi III. The personal names of king also have variations in itself. An example is Rama X's personal name: Vajiralongkorn, in which the variation one might see is Vajiraklao. So when the new coinage was being carried out, the question of "what name should the mint depict?" pops up. Initially it's a mix of the variations of the personal names, later after King Rama VIII, and the switch to constitutional monarchy along with the changing of the country name to Thailand, the coin now use both regnal (alternative name) and personal names.

King	Coin	Name	Title used on coins	Translation
		Rama IV Mongkut	No name were used on this series of coin
			鄭明通寶 (zhèng míng tōng bǎo) dên mêng tong bo	Dên mêng, (Chinese Name of Rama IV)
		Rama V Chulalongkorn	กรุงสยาม รัชกาลที่ ๕ krung-siam ratchakan-thi-ha	5th reign of the Kingdom of Siam
			สมเด็จพระปรมินทรมหาจุฬาลงกรณ์ พระจุลจอมเกล้าเจ้าอยู่หัว somdet-phra-poraminthara-maha-chulalongkorn phra-chulachomklao-chao-yu-hua	His Majesty King Maha-Chulalongkorn, Lord of life Chulachomklao
			จุฬาลงกรณ์ ป.ร. พระจุลจอมเกล้าเจ้ากรุงสยาม chulalongkorn por-ror phra-chulachomklao-chao-krung-siam	Chulalongkorn Rex, Lord of life Chulachomklao of the Kingdom of Siam
			จุฬาลงกรณ์ สยามินทร์ chulalongkorn siam-min	Chulalongkorn, King of Siam
		Rama VI Vajiravudh	มหาวชิราวุธ สยามินทร์ maha-vajiravudh siam-min	Maha-Vajiravudh, King of Siam
		Rama VII Prajadhipok	ประชาธิปก สยามินทร์ prachadhipok siam-min	Prachadhipok, King of Siam
		Rama VIII Ananda Mahidol	อานันทมหิดล รัชกาลที่ ๘ ananda-mahidol ratchakan-thi-paed	Ananda Mahidol of the 8th reign
		Rama IX Bhumibol Adulyadej	ประเทศไทย รัชกาลที่ ๙ prathet-thai ratchakan-thi-kao	9th reign of the Kingdom of Thailand
			ภูมิพลอดุลยเดช รัชกาลที่ ๙ bhumibol-adulyadej ratchakan-thi-kao	Bhumibol Adulyadej of the 9th reign
		Rama X Vajiralongkorn	มหาวชิราลงกรณ รัชกาลที่ ๑๐ maha-vajiralongkorn ratchakan-thi-sip	Maha-Vajiralongkorn of the 10th reign

Calendar systems of Thai coinage

Over the course of Siamese coinage history, various calendar systems were used. The first one to be applied onto the coins was the Burmese calendar system or Chula Sakarat (C.S.), which was subsequently supplanted by the Rattanakosin Sok system (R.S.) which started at the founding of the Rattanakosin Kingdom. The system in use right now is the Phuttha Sakarat system or the Buddhist calendar (B.E.).

Calendar Reference Table
Burmese Calendar [-638 AD]	Rattanakosin Calendar[-1781 AD]	Buddhist Calendar[+543 AD]	Gregorian Calendar
Chulasakarat is +638 years	Rattanakosinsok is +1781 years	Phutthasakarat is -543 years	0 AD
1236 CS	93 RS	2417 BE	1874 AD
1261 CS	118 RS	2442 BE	1899 AD
1291 CS	148 RS	2472 BE	1929 AD
.....	.....	.....	.....
1385 CS	242 RS	2566 BE	2023 AD
1386 CS	243 RS	2567 BE	2024 AD
1387 CS	244 RS	2568 BE	2025 AD

Banknotes

Main article: Banknotes of the Thai baht

In 1851, the government issued notes for 1⁄8, 1⁄4, 3⁄8, 1⁄2 and 1 tical, followed by 3, 4, 6 and 10 tamlueng in 1853. After 1857, notes for 20 and 40 ticals were issued, also bearing their values in Straits dollars and Indian rupees. Undated notes were also issued before 1868 for 5, 7, 8, 12 and 15 tamlueng, and 1 chang. One at notes were issued in 1874.

In 1892, the treasury issued notes for 1, 5, 10, 40, 80, 100, 400 and 800 ticals, called "baht" in the Thai text.

On 10 September 1902, the government introduced notes which were printed by Thomas De La Rue & Company Limited (De La Rue) in England, during the reigns of Kings Rama V and Rama VI, denominated 5, 10, 20, 100 and 1000 ticals, still called baht in the Thai text — each denomination having many types, with 1 and 50 tical notes following in 1918. In 1925, notes were issued in denominations of 1, 5, 10, 20, 100 and 1,000 baht with the denomination in both Arabic and Thai numerals without English text; English speakers continued to refer to these as "ticals".

On 27 July 2010, the Bank of Thailand announced that the 16th-series banknotes would enter circulation in December 2010. On 9 August 2012, the Bank of Thailand issued a new denomination banknote, 80 baht, to commemorate queen Sirikit's 80th birthday. It was the first Thai banknote that featured Crane's MOTION security thread.

In 2017, the Bank of Thailand announced a new family of banknotes in remembrance of the late King Bhumibol Adulyadej (Rama IX). The notes are the same size and dimensions as the "Series 16" banknotes, with the front designs as before, but the back designs featuring images of the king's life in infancy, adolescence and maturity. The new family of banknotes were issued on September 20.

In 2018, the Bank of Thailand announced a new family of banknotes featuring a portrait of the current King Vajiralongkorn (Rama X). The main colors and dimensions of the notes are the same as before, with the back designs featuring images of the Kings of Thailand from past to present. The 20, 50 and 100 baht banknotes were issued on Chakri Memorial Day, 6 April 2018. The final two denominations, 500 and 1,000 baht were issued on the anniversary of the birth of King Maha Vajiralongkorn, 28 July 2018.

Timeline

Predecimal banknotes

The characteristic of the banknotes of this era was that there were no series issued at the same time, rather they were issued sporadically and had multiple banks producing their own banknotes.

1851–1868, Rama IV era banknotes

Image	Value	Written text	Value in baht	Issuing body	Date of issue
	1 fueang	เฟื้องหนึ่ง 方壹 Octava pars ticalis One eights of Tical	1/8	Royal Printing Works, Royal Palace of Siam	1853
	1 salueng	สลึงหนึ่ง 銭壹 Quartia pars ticalis One quarter of Tical	1/4
	1 salueng 1 fueang	สลึงเฟื้อง 方銭壹 Tres octava partes ticalis Three eights of Tical	3/8
	2 salueng	สองสลึง 銭貳 Media pars ticalis One half of Tical	1/2
	2 salueng 1 fueang	สองสลึงเฟื้อง 方銭貳 Quinque octava partes ticalis Five eights of Tical	5/8
	3 salueng	สามสลึง 銭參 Tres partes ticalis Three quarter of Tical	3/4
	3 salueng 1 fueang	สามสลึงเฟื้อง 方銭參 Septem octava partes ticalis Seven eights of Tical	7/8
	1 baht	บาทหนึ่ง 圓壹 Unus ticalis One Tical	1
	2 tamlueng	พระราชทานเงินตรา สองตำงลึง	8		1856
	3 tamlueng	พระราชทานเงินตรา สามตำงลึง	12		1853; 1856
	4 tamlueng	พระราชทานเงินตรา สี่ตำงลึง	16
	5 tamlueng	พระราชทานเงินตรา ห้าตำงลึง	20
	6 tamlueng	พระราชทานเงินตรา หกตำงลึง	24		1856
	7 tamlueng	พระราชทานเงินตรา เจ็ดตำงลึง	28
	8 tamlueng	พระราชทานเงินตรา แปดตำงลึง	32
	10 tamlueng	พระราชทานเงินตรา สิบตำงลึง	40		1853; 1856
	12 tamlueng	พระราชทานเงินตรา สิบสองตำงลึง	48		1856
	15 tamlueng	พระราชทานเงินตรา สิบห้าตำงลึง	60
	1 chang	พระราชทานเงินตรา ชั่งหนึ่ง	80		1853; 1856
	1 chang 5 tamlueng	พระราชทานเงินตรา ชั่งห้าตำงลึง	100		1856
	1 chang 10 tamlueng	พระราชทานเงินตรา ชั่งสิบตำงลึง	140

1868–1902, Rama V era banknotes

Royal Treasury banknotes

Image	Value	Date of issue
	1 at	1874
	1 tical	1892
	5 tical
	10 tical
	40 tical
	80 tical
	100 tical
	400 tical
	800 tical

Hong Kong and Shanghai Banking Corporation (HSBC) banknotes

Image	Value	Date of issue
	1 tical	1889
	5 tical
	10 tical
	40 tical
	80 tical
	100 tical
	400 tical

Chartered Bank of India, Australia, and China banknotes

Image	Value	Date of issue
	5 tical	1884
	10 tical
	40 tical
	80 tical
	100 tical
	400 tical

Banque de L'Indo-Chine banknotes

Image	Value	Date of issue
	5 tical	1986
	20 tical
	80 tical
	100 tical

Decimal banknotes

Portraits of Monarchs

• 
  1934
• 
  1935
• 
  1942 - 1948
• 
  1948 - 1955
• 
  1955 - 1968
• 
  1968
• 
  1968 - 1978

Summary of Decimal Banknotes

	50 Satang	1 Baht	5 Baht	10 Baht	20 Baht	50 Baht	100 Baht	500 Baht	1000 Baht
Series 1 1902–1928 (24 years)
Series 2 1925–1934 (9 years)
Series 3 1934–1935 (1 year)
Series 3–2 1935–1937 (3 years)
Series 4 1937–1942 (5 years)
Series 5 1942–1945 (5 years)
Series 6 1945 (<1 year)
Series 7 1945 (<1 year)
Series 8 1945–1948 (3 years)
Series 9 1948–1971 (23 years)
Series 10 1969 (<1 year)
Series 11 1969–1988 (19 years)
Series 12 & 13 1978–2003 (25 years)
Series 14 1992–2005 (13 years)
Series 15 2001–2015 (14 years)
Series 16 2013–2018 (5 years)
Series 17 (current series) 2018–present 8 years
Series 12 –15: under fair use (published less than 50 years ago) Series 15 –17: omitted due to copyright issues (published less than 50 years ago)

1902–1925 (Series 1), Rama V and Rama VI era

Series 1 - Uniface Series

Series 1 was chosen due to the series which precedes this were non-decimal. Series 1 banknotes was the first series to be produced by De La Rue. In 1900, Charles James Rivett Carnac, a Royal Treasury Ministry advisor proposed that the Siamese baht followed the issuances of banknotes followed the British standard. The banknote department was established quickly thereafter. The main characteristic of this series was that the notes were one-sided and multilingual, containing Chinese, Malay (in Jawi script), and Latin scripts. It was also the last series to use the term "tical" to refer to the Thai baht and the largest in term of size of the circulated notes.

Series 1 banknotes (Rama V, VI) issued for 26 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 tical	165 × 105 mm	Cyan	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] One Tical - หนึ่งบาท 暹羅國銀壹銖 - واڠ سيايم ساتو کوڤڠ	blank - no prints nor inscriptions	1918–1925
5 ticals	165 × 105 mm	Grey	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Five Tical - ห้าบาท 暹羅國銀伍銖 - واڠ سيايم لايم کوڤڠ		1902–1925
10 ticals	205 × 126 mm	Brown	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Ten Tical - สิบบาท 暹羅國銀拾銖 - واڠ سيايم سپولو کوڤڠ
20 ticals		Green	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Twenty Tical - ยี่สิบบาท 暹羅國銀貳拾銖 - واڠ سيايم دوا ڤولو کوڤڠ
50 ticals	165 × 105 mm	Grey	Emblem of Siam + Redacted inscriptions - overprinted to denominate 50 ticals		1918–1925
100 ticals	205 × 126 mm		Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Hundred Tical - ร้อยบาท 暹羅國銀壹佰銖 - واڠ سيايم سراتوس کوڤڠ		1903–1928
1000 ticals		Red	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Thousand Tical - พันบาท 暹羅國銀壹仟銖 - واڠ سيايم سريبـو کوڤڠ		1902–1928

1925–1935 (Series 2 to Series 3 Type 1), Rama VII era

Series 2 - Ploughing Ceremony Series

Series 2 banknotes were produced by De La Rue.

Series 2 banknotes (Rama VII) issued for 9 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	135 × 75 mm	Blue and yellow	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] One Tical - หนึ่งบาท	Royal Ploughing Ceremony	1925–1934
5 baht	155 × 85 mm	Green and grey	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Five Tical - ห้าบาท
10 baht	175 × 95 mm	Red	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Ten Tical - สิบบาท
20 baht		Green	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Twenty Tical - ยี่สิบบาท
100 baht		Blue and green	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Hundred Tical - ร้อยบาท		1928–1934
1000 baht	195 × 105 mm	Red	Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Thousand Tical - พันบาท

Series 3 Type 1

Series 3 type 1 banknotes were produced by De La Rue. This series was actually delayed due to the Siamese revolution to abolish the absolute monarchy and transform it into a constitutional monarchy. The issuance was supposed to happen in the early 1930s.

Series 3 Type 1 banknotes (Rama VII) issued for 1 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	135 × 75 mm	Green	King Prajadhipok and Suphannahongse Royal Barge + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] One Tical - หนึ่งบาท	Phra Samut Chedi Temple	1934–1935
5 baht	155 × 85 mm	Green and grey	King Prajadhipok and Temple of the Emerald Buddha + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Five Tical - ห้าบาท
10 baht	175 × 95 mm	Brown	King Prajadhipok and a scene of the Mae Ping River + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Ten Tical - สิบบาท
20 baht		Green	King Prajadhipok and a scene of a riverside community + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Twenty Tical - ยี่สิบบาท

1935–1948 (Series 3 Type 2 to Series 8), Rama VIII era

Series 3 Type 2

Series 3 type 2 banknotes were produced by De La Rue. It was the first series to hold King Rama VIII's portrait, which replaced King Rama VII's portrait in the type 1.

Series 3 Type 2 banknotes (Rama VIII) issued for 2 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	135 × 75 mm	Green	Young King Ananda Mahidol and Suphannahongse Royal Barge + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] One Tical - หนึ่งบาท	Phra Samut Chedi Temple + โทษฐานปลอมหรือแปลงธนบัตรคือจำคุกตั้งแต่สิบปีถึงตลอดชีวิต และปรับตั้งแต่พันบาทถึงหมื่นบาทหรือพันเท่าราคาธนบัตร ปลอมแล้วแต่จำนวนไหนจะมากกว่ากัน (Penalty for counterfeiting the banknote is ten years up to life imprisonment, and fined thousand up to ten thousands Baht or thousand times of that counterfeited notes depends on which is higher.)	1935–1937
5 baht	155 × 85 mm	Green and grey	Young King Ananda Mahidol and Temple of the Emerald Buddha + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Five Tical - ห้าบาท
10 baht	175 × 95 mm	Brown	Young King Ananda Mahidol and a scene of the Mae Ping River + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Ten Tical - สิบบาท
20 baht		Green	Young King Ananda Mahidol and a scene of a riverside community + Emblem of Siam + รัฐบาล สยาม (Siamese Government) [date of printing] Twenty Tical - ยี่สิบบาท

Series 4 Type 1

Series 4 type 1 banknotes were produced by Thomas De La Rue & Company Limited.

Series 4 Type 1 banknotes (Rama VIII) issued for 5 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	125 × 65 mm	Green	Young King Ananda Mahidol and Phra Samut Chedi	Ananta Samakhom Throne Hall	1937–1942
5 baht	135 × 76 mm	Green and grey	Young King Ananda Mahidol and Phra Pathom Chedi
10 baht	145 × 87 mm	Brown	Young King Ananda Mahidol and Mahakarn Fortress
20 baht		Green	Young King Ananda Mahidol and Golden Mountain Stupa
1000 baht	195 × 100 mm	Red	Young King Ananda Mahidol and a Dusidabhirom Pavilion

Series 4 Type 2 - Survey Department Series

Series 4 type 2 banknotes were produced by Royal Thai Survey Department and the Naval Hydrographic Department. During World War II, Thailand was allied with the Empire of Japan. This meant that the government of Thailand could not order banknotes from the British De La Rue.

Series Type II banknotes (Rama VIII) issued for <1 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	125 × 65 mm	Green	Young King Ananda Mahidol and Phra Samut Chedi	Ananta Samakhom Throne Hall	1942
10 baht	146 × 86 mm	Brown	Young King Ananda Mahidol and Mahakarn Fortress
20 baht		Green	Young King Ananda Mahidol and Grand Palace
100 baht	125 × 65 mm	Cyan	Young King Ananda Mahidol and a Wat Arun

Series 5

Series 5 banknotes were produced by Notes Printing Works of Japan.

Series 5 banknotes (Rama VIII) issued for 3 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
50 satang	117 × 63 mm	Green	Young King Ananda Mahidol	Grand Palace	1942–1945
1 baht	125 × 65 mm	Grey	Young King Ananda Mahidol and Pumin Temple
5 baht	135 × 75 mm	Green	Young King Ananda Mahidol and Wat Benchamabophit Dusitwanaram
10 baht	145 × 85 mm		Young King Ananda Mahidol and Wat Pho
20 baht	155 × 90 mm		Young King Ananda Mahidol and Aisawan Tipaya-ast Pavilion
100 baht	175 × 100 mm	Red	Young King Ananda Mahidol and Wat Arun
1000 baht		Green	Young King Ananda Mahidol and Grand Palace

Series 6

Series 6 banknotes were produced by Royal Thai Survey Department.

Series 6 banknotes (Rama VIII) issued for <1 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
20 baht	147 × 87 mm	Green	Young King Ananda Mahidol and Dusidapirom Pavilion	Ananta Samakhom Throne Hall	1945
100 baht			Young King Ananda Mahidol and Wat Arun

Series 7

Series 7 banknotes relied on private printing under the supervision of the Bank of Thailand. According to the Bank of Thailand, the quality of this series was barely satisfactory.

Series 7 banknotes (Rama VIII) issued for <1 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	104 × 54 mm	Cyan	King Ananda Mahidol and Phra Samut Chedi	Ananta Samakhom Throne Hall	1945
5 baht	135 × 76 mm	Purple	King Ananda Mahidol and Phra Patom Chedi
10 baht		Green	King Ananda Mahidol and Mahakarn Fortress
50 baht	104 × 54 mm	Red	King Ananda Mahidol and Wat Benchamabophit Dusitwanaram

Special series

The special series were banknotes that were issued during World War II, each at different times.

Special series banknotes (Rama VIII) issued for <1 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
50 satang (overprint)	145 × 85 mm	Grey	Young King Ananda Mahidol and Wat Pho	Grand Palace	1946
50 satang (Kong Tek Note)	125 × 65 mm	Grey and yellow	none	Ananta Samakhom Throne Hall
1 baht (Kong Tek Note)	117 × 63 mm	Grey and red	King Ananda Mahidol and a 16-pointed star symbol		1942
1 baht (Invasion Note)	114 × 73 mm	Grey	none		1946
1000 baht	195 × 105 mm	Red	King Ananda Mahidol and Phra Prang Sam Yod	Ananta Samakhom Throne Hall	1943

Series 8 - American Series

At the end of World War II, the English De La Rue's printing house suffered damage from German bombing, thus the Royal Thai Government turned to the United States government to produce the series 8. The Tudor Press Company produced this series.

Series 8 banknotes (Rama VIII) issued for 3 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
1 baht	110 × 66 mm	Green	King Ananda Mahidol and Phra Patom Chedi	The Constitution of Siam	1945–1948
5 baht		Blue
10 baht		Brown
20 baht	156 × 90 mm	Violet
100 baht		Brown and cyan

1948–2003 (Series 9 to Series 13), early Rama IX era

These banknotes series are not yet demonetised and hence still legal tender, though they are never seen in circulation anymore.

These banknotes images are allowed under a strict copyright infringement exemption under the Chapter 1: Copyright, Part 6: Exceptions to Infringement of Copyright, Clause 7 of Copyright Act B.E. 2537 (1994) Amended by Copyright Act (NO. 2) B.E. 2558 (2015), and Copyright Act (NO.3) B.E. 2558 (2015) and Copyright Act (NO.4) B.E. 2561 (2018): reproduction, adaptation in part of a work or abridgement or making a summary by a teacher or an educational institution so as to distribute or sell to students in a class or in an educational institution, provided that the act is not for profit.

So as to serve as an educational material, any series beyond series 11 is omitted.

Series 9

Series 9 banknote portrait difference, young portrait (left) and new portrait (right)

Series 9 banknotes were produced by the English De La Rue. There are two variations within this series, the young, and new portrait. According to the Bank of Thailand, the colour schemes of this series established the denominations' colours for all of the following series due to the series circulating for 20 years.

Series 9 banknotes (Rama IX) issued for 23 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
50 satang	115 × 63 mm	Green	The Constitution of Thailand	Phra Samut Chedi	1948–1969
1 baht	126 × 66 mm		King Bhumibol Adulyadej in the uniform of the supreme commander of the Royal Thai Armed Forces, and Wat Pho	Ananta Samakhom Throne Hall	1948–1955; 1955–1969
5 baht	136 × 77 mm	Green and Grey	King Bhumibol Adulyadej in the uniform of the supreme commander of the Royal Thai Armed Forces, and Phra Pathomma Chedi
10 baht	146 × 86 mm	Brown	King Bhumibol Adulyadej in the uniform of the supreme commander of the Royal Thai Armed Forces, and Pharakarn Fortress		1948–1953; 1953–1969
20 baht		Green	King Bhumibol Adulyadej in the uniform of the supreme commander of the Royal Thai Armed Forces, and Grand Palace		1948–1955; 1955–1971
100 baht	145 × 86 mm	Red	King Bhumibol Adulyadej in the uniform of the supreme commander of the Royal Thai Armed Forces, and Wat Arun		1948–1955; 1955–1968

Series 10

Series 10 banknotes were produced the English De La Rue. Due to heavy counterfeiting, series 10 was issued in series 9's stead. The 100-baht note is the only denomination issued in this series.

Series 10 banknotes (Rama IX) issued for <1 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
100 baht	145 × 86 mm	Red	King Bhumibol Adulyadej in uniform	Royal barge Suphannahong	1968–1969

Series 11

In this series, the 500-baht note was introduced for the first time ever. This coincided with the Bank of Thailand fully converting to an in-house production. As a consequence, the 1-baht note's production was cancelled.

Series 11 banknotes (Rama IX) issued for 13 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
5 baht	130 × 67.5 mm	Violet	King Bhumibol Adulyadej in full regalia	Arphonphimoke Prasat Pavilion	1969–1978
10 baht	135 × 70 mm	Brown		Wat Benchamabophit
20 baht	140 × 72 mm	Green		Royal barge Anantanakkharat with the Grand Palace in the background	1971–1978
100 baht	150 × 77 mm	Red		Wat Phra Si Rattana Satsadaram at the Grand Palace	1969–1978
500 baht	160 × 80 mm	Purple		Phra Prang Sam Yod in Lopburi	1975–1988

Series 12 - The Greats Series and 13 - Bicentenial Series

Series 12 and 13 aimed to glorify past Thai monarchs, the Bank of Thailand dubbed this as "The Great Series." The 5-baht note's production was cancelled. The 50-baht and 500-baht notes are part of series 13 and were issued to commemorate the bicentennial celebration of Bangkok in 1982, though their production had to be delayed for the new printing press to be installed.

Series 12 & 13 banknotes (Rama IX) issued for 25 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
10 baht	132 × 69 mm	Brown	King Bhumibol Adulyadej in uniform	Equestrian statue of King Chulalongkorn at Ananta Samakhom Throne Hall	1978–2003
20 baht	139 × 72 mm	Green		King Taksin's statue at Chantaburi, along with his generals: Phraya Phichai of the broken sword, Phra Chiang-ngeon, Luang Ratchasaneha, Luang Phromsena
50 baht	144 × 72 mm	Blue	King Bhumibol Adulyadej in full regalia	Ananta Samakhom Throne Hall, the coronation of King Prajadhipok (Rama VII)	1985–1996
50 baht (polymer)		Blue and yellow			1996–1997
100 baht	154 × 80 mm	Red	King Bhumibol Adulyadej in uniform	King Naresuan the Great atop his war elephant, monument at Donchedi, Suphanburi.	1978–1994
500 baht	160 × 80 mm	Purple	King Bhumibol Adulyadej in the uniform of the supreme commander of the Royal Thai Armed Forces	Monument of King Phutthayotfa Chulalok; Memorial Bridge and the Temple of the Emerald Buddha	1988–1996

2003–present (Series 14 to Series 17), late Rama IX and Rama X era

Some images of banknotes have been removed lest they infringe copyright, but may be viewed at the Thai-language article linked in the margin.

Series 14

The series 14 aims to focus on the activities and contributions of the Chakri kings. Officially, only three notes were issued, but the 50-baht notes were also produced alongside this series. The polymer 50-baht is considered to be a part of series 15, even though the production date began in 1994.

Series 14 banknotes (Rama IX) issued for 13 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
50 baht (polymer)	144 × 72 mm	Blue	King Bhumibol Adulyadej (Rama IX) in the uniform of the supreme commander of the Royal Thai Armed Forces	King Mongkut (Rama IV); Phra Pathom Chedi; a telescope, and a celestial globe	1994–2004
100 baht	150 × 72 mm	Red		King Chulalongkorn (Rama V) and King Vajiravudh (Rama VI); Chulalongkorn University; Modern Thai school with school children, and book with candle emitting light; Ancient Thai education with a Buddhist monk
500 baht	156 × 72 mm	Purple		King Phutthayotfa Chulalok (Rama I) and King Phutthaloetla Naphalai (Rama II); Emerald Buddha Temple; Khon Theatre scene from the Ramayana story	1996–2001
1,000 baht	166 × 80 mm	Silver		King Bhumibol Adulyadej (Rama IX) and Queen Sirikit; Royal Visit to the Baan Bakong reservoir in Narathiwat, smaller images of greeting the local children.	1992–2005

Series 15

The series 15 aims to update and expand the previous series 14's design. The 1000-baht note was resized down. There are two variants of this series, with the second and later variant having updated security features.

Series 15 banknotes (Rama IX) issued for 10 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
20 baht	138 × 72 mm	Green	King Bhumibol Adulyadej (Rama IX) in the uniform of the supreme commander of the Royal Thai Armed Forces	King Ananda Mahidol (Rama VIII); Procession at Sampheng Lane (Chinatown, Bangkok) after WWII with King Rama VIII Ananda Mahidol and Prince Bhumibol Adulyadej (later King Rama IX); Rama IX Bridge	3 March 2003
50 baht	144 × 72 mm	Blue		King Mongkut (Rama IV); Phra Pathom Chedi; a telescope, and a celestial globe	19 March 2004
100 baht	150 × 72 mm	Red		Type I King Chulalongkorn (Rama V) and King Vajiravudh (Rama VI); Chulalongkorn University; Modern Thai school with school children, and book with candle emitting light; Ancient Thai education with a Buddhist monk	2004
				Type II King Chulalongkorn (Rama V) ; fresco painting on the ceiling of southern dome inside Ananta Samakhom Throne Hall showing Abolition of slavery, painted by Galileo Chini and Carlo Riguli	21 October 2005
500 baht	156 × 72 mm	Purple		King Nangklao (Rama III); Loha Prasat at Wat Ratchanatdaram temple; a Chinese junk to depict trading with foreign nations	1 August 2001
1,000 baht	162 × 72 mm	Brown		King Bhumibol Adulyadej (Rama IX); Pa Sak Jolasid Dam; an image of the agricultural land managed in accordance with the New Theory	25 November 2005

Series 16

Similar to the series 15, the series 16 banknotes update the design to include a more later portrait of King Rama IX. There are two variants of this series, the later one being a circulated commemorative series circulating for a year after King Rama IX's passing. The series 16–2 notes depict the life and achievements of King Rama IX on the reverse.

Series 16 banknotes (Rama IX) issued for 6 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
20 baht	138 × 72 mm	Green	King Bhumibol Adulyadej in the Royal House of Chakri gown	King Ramkhamhaeng the Great on the Manangkhasila Asana Throne monument; invention of the Thai script; Ramkhamhaeng stele	1 April 2013
50 baht	144 × 72 mm	Blue		King Naresuan the Great pouring water for declaration of independence monument; Statue of King Naresuan the Great on war elephant; Phra Chedi Chai Mongkol temple	18 January 2012
100 baht	150 × 72 mm	Red		King Taksin the Great monument in Wongwian Yai circle; Phra Ratchawang Doem (King Taksin's palace); Wichai Prasit Fortress Thonburi	26 February 2015
500 baht	156 × 72 mm	Violet		King Phutthayotfa Chulalok the Great (Rama I) monument; Wat Phra Chetuphon Vimolmangklararm Rajwaramahaviharn (Wat Pho); Phra Sumen Fort (Bangkok city wall)	12 May 2014
1,000 baht	162 × 72 mm	Brown		King Chulalongkorn the Great (Rama V) monument; Ananta Samakhom throne hall, Dusit palace ground king's monument, end of slavery in Siam	21 August 2015

Series 17

On the occasion of there being now 10 kings within the current dynasty. The central bank of Thailand decided that this series would commemorate all the kings of the Chakri dynasty. The front depicting the King Rama X, while the back depict 2 kings. While initially, the series was printed on cotton-paper, on 24 March 2022, the central bank decided to upgrade the material to polymer. This would set a trend where more denominations are converted into polymer. On 21 November 2025, the 50-baht and 100-baht notes were converted into polymer.

Series 17 banknotes (Rama X) issuing for 8 years
Value	Dimensions	Main colour	Description		Date of issue
			Obverse	Reverse
20 baht	138 × 72 mm	Green	King Vajiralongkorn (Rama X) in the uniform of the commander of the Royal Thai Air Force and wearing the Order of the Nine Gems	King Phutthayotfa Chulalok (Rama I) and King Phutthaloetla Naphalai (Rama II)	6 April 2018
50 baht	144 × 72 mm	Blue		King Nangklao (Rama III) and King Mongkut (Rama IV)
100 baht	150 × 72 mm	Red		King Chulalongkorn (Rama V) and King Vajiravudh (Rama VI)
500 baht	156 × 72 mm	Purple		King Prajadhipok (Rama VII) and King Ananda Mahidol (Rama VIII)	28 July 2018
1,000 baht	162 × 72 mm	Brown		King Bhumibol Adulyadej (Rama IX) and King Vajiralongkorn (Rama X)

Money and unit of mass

Ngoen (เงิน) is Thai for "silver" as well as the general term for money, reflecting the fact that the baht (or tical) is foremost a unit of weight for precious metals and gemstones. One baht = 15.244 grams. Since the standard purity of Thai gold is 96.5%, the actual gold content of one baht by weight is 15.244 × 0.965 = 14.71046 grams; equivalent to about 0.473 troy ounces. 15.244 grams is used for bullion; in the case of jewellery, one baht should be more than 15.16 grams.

Historical coinage material

Example coin	Material	Date in use	Denomation minted
	Gold	1863–1905* *the coins mintage date were only in 1863 & 1876, but they were demonitised by the decimalisation.	Predecimal coinage 1/4 baht (1 fueang) 1/2 baht 1 baht 2 baht 4 baht (1 tamlueng) 2 tamlueng
	Silver	1860–1962	Predecimal coinage 1/2 fueang 1/4 baht (1 fueang) 1/2 baht 1 baht 2 baht Decimal coinage 5 satang 10 satang 20 satang 25 satang 50 satang 1 baht
	Tin	1860–1950	Predecimal coinage 1/16 fueang 1/8 fueang Decimal coinage 1 satang 5 satang 10 satang 25 satang 50 satang
	Copper	1865–1905	Predecimal coinage 1/16 fueang 1/8 fueang 1/4 fueang 1/2 fueang
	Brass	1865–1977	Predecimal coinage 1/4 fueang 1/2 fueang Decimal coinage 25 satang
	Bronze	1887–1957	Predecimal coinage 1/16 fueang 1/8 fueang 1/4 fueang Decimal coinage 1/2 satang 1 satang 5 satang 10 satang
	Nickel	1908–1937	Decimal coinage 5 satang 10 satang
	Aluminium bronze	1950–present	Decimal coinage 5 satang 10 satang 25 satang 50 satang
	Cupronickel	1897–present	Transitional coinage 2 1/2 satang 5 satang 10 satang 20 satang Decimal coinage 1 baht 5 baht 10 baht (outer ring)
	Nickel-plated steel	2005–present	Decimal coinage 1 baht 2 baht
*inner part	Copper-aluminium-nickel	2008–present	Decimal coinage 5 baht 10 baht (inner plug)
*no wiki-image exist a Al-Br coin version is used	Copper-plated steel		Decimal coinage 25 satang 50 satang
This table only includes milled coins. Photduang, knife-cash, etc., are not included.

Exchange rates

Historical exchange rate of USD/THB from 1980 to 2015

Historical exchange rate of EUR/THB since 2005

The Bank of Thailand adopted a series of exchange controls on 19 December 2006, which resulted in a significant divergence between offshore and onshore exchange rates, with spreads of up to 10% between the two markets. Controls were broadly lifted on 3 March 2008, and there is now no significant difference between offshore and onshore exchange rates.

USD/THB average exchange rate

2000	2001	2002	2003	2004	2005	2006	2007	2008	2009
40.24	40.26	37.92	32.34	32.99	34.34	31.73	30.48	31.07	30.71
2010	2011	2012	2013	2014	2015	2016	2017	2018	2019
32.48	34.25	35.28	33.91	32.48	34.25	35.30	33.94	32.31	31.05
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
31.30	31.98	35.06	34.80	35.29	32.88
Source 1999–2013: usd.fx-exchange.com Source 2014–2020: Bank of Thailand Archived 2021-01-23 at the Wayback Machine Source 2021–2025: Bank of Thailand Archived 2026-03-13 at the Wayback Machine

Current THB exchange rates
From Google Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD INR TWD
From Yahoo! Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD INR TWD
From XE.com:	AUD CAD CHF CNY EUR GBP HKD JPY USD INR TWD
From OANDA:	AUD CAD CHF CNY EUR GBP HKD JPY USD INR TWD

Historical Exchange Rate in 1900s

Due to the fact that during these time periods, often the currencies were non-decimals, hence the non-decimal notations for these currencies.

Notation	Meaning	Notation	Meaning
Decimal		Non Decimal
ℳ︁1.15	1 Mark 15 Pfennig	฿17/6/1	17 Baht 6 Fuang 1 Att
¥0.55	0 Yen 55 Sen	£0/1/1½	0 Pound 1 Shilling 1½ Penny
0.68ƒ	0 Gulden 68 Cents	Rs.1/6/2	1 Rupee 6 Annas 2 Paisa

• 
  Podduang to Flatcoins (฿1=฿1)
• 
  British pound £ (lsd) to THB (£1=฿17/6/1)
• 
  THB to British pound £ (lsd) (฿1=£0/1/1½)
• 
  Latin Monetary Union unit to THB (1=฿0/5/5)
• 
  THB to Latin Monetary Union unit (฿1=1.42)
• 
  Deutsche Mark to THB (ℳ︁1=฿0/6/7½)
• 
  THB to Deutsche Mark (฿1=ℳ︁1.15)
• 
  Dutch gulden to THB (1ƒ=฿1/3/7)
• 
  THB to Dutch gulden (฿1=0.68ƒ)
• 
  USD to THB ($1=฿3/4/4½)
• 
  THB to USD (฿1=$0.28)
• 
  JPY to THB (¥1=฿1/2/2½)
• 
  THB to JPY (฿1=¥0.55)
• 
  INR (British Raj) to THB (Rs.1=฿0/5/5½)
• 
  THB to INR (British Raj) (฿1=Rs.1/6/2)
• 
  Egyptian Lira to THB (£E1/5=฿3/6/5)
• 
  Philippine peso to THB (P$1=฿1/6/2½)
• 
  Imperial ruble to THB (₽1=฿1/6/5)
• 
  THB to Imperial ruble (฿1=₽0.55)
• 
  Konbaung Kyat to THB (1ကျပ်=฿0/5/5½)
• 
  Mexican peso to THB (M$1=฿1/5/2½)
• 
  Canadian dollar to THB (C$1=฿3/5/2½)
• 
  Scandinavian Monetary Unit to THB (SKr.1=฿0/5/5)
• 
  Panamanian balboa to THB (B/.1=฿3/4/4½)
• 
  Austro-Hungarian corona to THB (K.1=฿0/5/7½)
• 
  Austria Thaler to THB (MTT$1=฿1/3/6½)
• 
  Ottoman Kurush to THB (Kş.6=฿0/3/½)
• 
  Peruvian sol to THB (S/.2=฿2/6/3½)
• 
  Indochinese Piastre to THB (Ps.1=฿3/4/1)

Purchasing power history

A table showing the equivalent of 100 baht in purchasing power throughout history (rounded to the lowest denomination of coins)

2024 (~1.9%/yr)	2020 (~0.36%/yr)	2015 (~2.64%/yr)	2010 (~3.05%/yr)	2005 (~1.65/yr)
100.00 baht	92.40 baht	90.75 baht	78.75 baht	66.75 baht
2000 (~4.65%/yr)	1995 (~4.36%/yr)	1990 (~2.45%/yr)	1985 (~7.75/yr)	1980 (~6.08%/yr)
61.25 baht	47.00 baht	36.75 baht	32.25 baht	19.75 baht
1975 (~7.85%/yr)	1970 (~2.4%/yr)	1965 (~1.93%/yr)	1960 (~10.81%/yr)	1955 (~9.57%/yr)
13.75 baht	8.35 baht	7.35 baht	6.64 baht	3.05 baht
1950 (~18.62%/yr)	1945 (~5.45%/yr)	1940 (~3.75%/yr)	1935 (~4.62%/yr)	1930 (~6.00%/yr)
1.59 baht	11.0 satang	8.0 satang	6.5 satang	5.0 satang
1925 (~1.10%/yr)		1892
3.5 satang		1 Att + 1 Solot

See also

• Economy of Thailand
• Stock Exchange of Thailand

References

Preceded by: Srivijaya Masa Location: Srivijaya Ratio: 1 silver baht = 6.31 masa	Currency of Thailand 1238 – incumbent	Succeeded by: currently in use
Preceded by: Lavo shell currency Location: Lavo Kingdom Ratio: 1 silver baht = 168 shells
Preceded by: Khmer empire currency Location: Khmer Empire

Sources

• Cecil Carter eds. , The Kingdom of Siam 1904, reprint by the Siam Society 1988, ISBN 974-8298-13-2, chapter X Currency and Banking
• Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
• Pick, Albert (1994). Bruce, Colin R. II; Shafer, Neil (eds.). Standard Catalog of World Paper Money: General Issues (7th ed.). Krause Publications. ISBN 0-87341-207-9.

External links

• Compare exchange rates of the Thai Baht from many bank in Thailand (in Thai) (archived)
• The banknotes of Thailand (in English, German, and French) (archived)