Friday, February 26, 2010
Thailand: Circulating coin denominations
Before 1860, Thailand did not produce any coins using modern methods. Bullet money known as Pod Duang were used since the very early Sukhothai dynasty (1781 BE or 1238 AD). In 1860 during the reign of HM King Rama 4, the first series of milled coinage were issued.
Courtesy: http://siamcoins.tarad.com and www.eurseree.com
Next week I will start posting about circulation coins issued since 1860 in Thailand. But to understand the coins properly one must know about denominations or different units used for Thai coins.
Until 1897 the Baht was subdivided into Fuang and Att as given below.
= 4 Salueng
= 8 Fuang
= 16 Sik
= 32 Sio or Pai
= 64 Att
= 128 Solot
The decimal system devised by HRH Prince Mahisorn, in which 1 Baht = 100 Satang, was introduced by HM King Rama 5 in 1897. However, coins denominated in the old units were issued until 1910.
Most common coin denominations issued till 1910:
In 1897 the first decimal coinage were issued. Since then 1 Baht = 100 Satang has been used till date. Most common denominations used for circulation coins are:
1 Satang - still used but only for transactions between financial institutions
5 Satang - still used but only for transactions between financial institutions
10 Satang - still used but only for transactions between financial institutions
20 Satang - last issued 1945
25 Satang - still used
50 Satang - still used
1 Baht - still used
2 Baht - in use since 2005
5 Baht - in use since 1972
10 Baht - in use since 1988