Coins of Thailand

Like most ancient states, Thailand went its own way in the formation of its own national currency. 

 

In the XIII-XV centuries, when the territories of modern Thailand were called the Kingdom of Sukotai, kauri shells ("bia," Thai. เบี้ย) Caught in the Mekong River began to be used as funds. The use of the shells of these small mollusks as a means of payment has spread widely to Southeast Asia from China, where this method of calculation has been practiced since the 15th century BC. It should be noted that kauri as a means of payment found its spread in Africa during the slave trade, and even in Russia during the "coin-free period." The use of shells in small transactions continued in the Kingdom of Siam until the middle of the 19th century.

 

 

In 1350, for the first time in the Kingdom of Siam, silver and gold bars of a special shape, called "sweat duang" (Thai พดด้วง), began to be used as a means of payment. Europeans gave these items the name "bullet coins." The ingots were bars of various weights with a thickening in the middle and bent into a ring, on which stamps with various symbols were applied: a wheel or star, indicating the stamp of the mint and the symbol of the ruler. Initially, "sweat duangs" were nothing more than weights when weighing bulk products, and only then, over time, they began to be used as funds, and the signs used on them acquired a symbolic meaning.

 

 

"Sweat duangs" were issued in numerous denominations, obtained by dividing the tikal into an integer number of parts (from 128 to 2). Their dimensions reached 65 mm. diameter, and weight 1.2 kg. Notably, the gold "sweat duang" tikal was equal to 10 silver "sweat duang" tikals. 

 

Tikal is the monetary unit of the Kingdom of Siam until 1928. Translated from Sanskrit, tikal means "branded silver coin." Since in Siam the people called tikal "bat," further in the review we will adhere to this name, which was subsequently officially adopted to refer to the currency of Siam/Thailand.

 

 

King Poraminthara Maha Chessadabodindra, aka Phra Nangklao Chaoyuhua, also known as Rama III, was the first Thai monarch to think about introducing "flat" coins. The king was concerned that creatures living in cowrie shells were mercilessly exterminated when they were taken. Having first seen flat coins in Singapore in 1835, he ordered samplers in England, but both options offered to him were rejected, since the name of the country on the coins was indicated "Muang Tai" (country of Tai), instead of "Kingdom of Siam."

 

In parallel with cowry shells (equal in value to 1⁄6400 baht) and "bullet coins," Mexican and Peruvian reals brought from South America also circulated in the region, on which their own cheques were placed, and in some regions the currency of neighboring states also circulated: Indian rupee and the Straits dollar (East Indian Company).

 

 

King Mongkut, aka Phra Chom Klao Chao Yu Hua, aka Rama IV, nevertheless decided on monetary reform. To prepare the population for "flat" coins, as well as to make up for the still insufficient number of shells, bullet coins, South American reais and other currencies of neighboring states circulating at that time, Siam put into circulation in 1856 a line of silver and gold "transitional" coins made by hand coinage. 

 

In 1857, Queen Victoria of England presented King Rama IV with a small hand-powered coin machine. The coins issued with its help were called "Rien Bannakarn" (Royal Gift Coins). Since the manual drive limited the number of coins issued per day, minting was soon stopped, but they did not refuse the idea of ​ ​ independently issuing coins, and they acquired the most modern steam press in England for minting coins. To accommodate the press, the king ordered the construction of the Sitticarn Mint on the territory of the palace. The first issue of coins on the new press was carried out by stamps of Royal gift coins. These coins were circulated in parallel with the "sweat duangs," since the issue of the latter was discontinued, and they were gradually withdrawn from circulation, sent for remelting and served as material for blanks when minting coins of subsequent issues. Several "sweat duangs," nevertheless, were later released in a limited edition, the next monarch in memory of his deceased relatives.

 

In 1857, the rate of some unofficially traded foreign currency was legalized: 1 baht was equated to 0.6 dollars of the Straits, and for 5 baht they gave 7 Indian rupees.

 

The first "flat" Siam coins of machine coinage were released in 1860. It was a line of seven silver coins in denominations of 1 sik, 1 fuang, 1 and 2 salunga, 1, 2 and 4 baht. Later, in 1862, tin 1 salt and 1 att were wedged into the line, and in 1865 copper 2 and 4 att. In 1863, gold coins in denominations of 2 ½, 4 and 8 baht also came into small circulation. Coins were issued by the Birmingham Mint and popularly called "Ryen."

 

The next Thai monarch Chulalongkorn, aka Rama V, updated small coins in the line in 1874. In the new design, copper coins were issued in denominations of ½, 1, 2 and 4 attas.

 

 

In 1875, Rama V ordered the construction of a new mint and the installation of a press with greater efficiency and productivity . In 1876, the first silver coins were minted on it in denominations of fuang (1/8 baht), salung (1/4 baht) and baht with the profile of the ruling monarch, which was new to the state.

 

In 1887, Siam launched a line of bronze coins in denominations of ½, 1 and 2 attas, which were issued until 1908.

 

 

The obverse of the bronze coins, as already noted, depicts the profile of King Rama V, on the reverse - sitting on the Royal coat of arms of the deva (deity) Phra Siam Devadhi Raj. The new coins were not only minted in England, but their appearance resembles the English trifle of the time: Rama V instead of Victoria on the obverse and a sitting deva instead of "Britain" on the reverse.

 

In the first (main) quarter, Airavata is depicted in a yellow field - a three-headed white elephant, a vahana (that is, a creature or object for the movement of the gods) of Indra. Its three heads symbolize the northern, central and southern regions of the state.

 

Rama V was the first Siamese king to receive a Western education. His reforms methodically turned a feudal backward country into a modern developed state. Siam's successes did not go unnoticed by the advanced European powers, which over many years of history have not been able to get Siam as their colony. In 1896-1907, due to French aggression and an ultimatum delivered by France, Siam lost its largest provinces of Cambodia and Laos.

 

The reforms of Rama V themselves concerned the budgetary sphere. On August 21, 1898, the authorities of Siam announced the transition to the decimal system. The author of the reform to switch to the decimal system was the half-brother of the ruling monarch Jayant Mongkol, part-time Minister of Finance, later recognized as the "father of Thai banking."

 

According to this reform, the baht was tied to the gold standard, abandoned the former confusing monetary system of 13 denominations, and introduced a "modern" decimal system with new names for small bargaining chips. 

 

 

The name of the new currency "satang" (Thai. สตางค์) is borrowed from the Pali language and means a hundredth of something. As an intermediate monetary unit, it was decided to leave the "salung" - ¼ baht, since it successfully "fit" into the new monetary system.

 

The line of copper-nickel coins issued after this included denominations of 2 ½, 5, 10 and 20 satangs.

 

Despite the fact that on November 25, 1902, the final transition to the decimal system was announced, the issue of bronze coins derived from atta was discontinued only in 1905, and silver coins derived from baht continued to be issued until 1910 on quite legal grounds. 

 

In 1908, Rama V issued another issue of coins. The changes again affected small denominations: 1, 5 and 10 satangs, which received a round hole in the middle. 

 

Also, in 1907-1908, King Rama V ordered a circulation of 1 baht coins at the Paris Mint. The engraver was the famous French medalist Henri-Auguste-Jules Pate. Officially, the coins did not have time to enter circulation during the life of the monarch, and they were distributed at the cremation ceremony by his son, successor to the throne, Vachiravud. Since the coin depicted the monarch already middle-aged, with a striking mustache, this coin was popularly nicknamed "mustache."

After the death of Rama V, currently called the "Great," his son Vachiravud, aka Rama VI, ascended the throne. The design of small coins issued two years earlier did not change during his reign. Legend on coins "Kingdom of Siam" (สยามรัฐ).
  

 

Rama VI also did not change the newfound Western tradition of depicting his profile on coins, so silver coins of senior denominations were minted with his portrait on the obverse.

 

 

Thais during the issue of silver coins of this type "played a little" with a sample, which ranged from 0.800 in 1915, when their first issue was carried out, to 0.500 in 1919, when silver prices soared due to the global economic crisis caused by the First World War. 

 

The next monarch Prachadipok (Rama VII) ruled Thailand between 1925 and 1935. The trifle shown in this theme a little higher, according to tradition, in 1926, 1929 and 1935 was released without design changes. Silver denominations in ¼ and ½ baht with his profile were issued only once, and only in 1929. 

 

It was during his reign, from April 15, 1928, that the local name of the currency "baht" was legalized as the main name of the national currency, and the term "tikal" became the second most important. 

 

 

Rama V's grandson, King Ananta Mahidon aka Rama VIII, succeeded to the throne in 1935. The font on coins issued in 1937 is insignificant, but still differs from the font on coins of its predecessors. Compare.

 

 

In 1939, the name of the state "Kingdom of Siam " changes to "Kingdom of Thailand ." The name came from the merger of "tai" (meaning "free" in the local dialect) and English "land" (country). The country managed to maintain sovereignty and not become anyone's colony over its centuries-old history.

 

In 1939, a 1 satang coin with a new legend "Government of Thailand" (รัฐบาลไทย) came into circulation.

 

 

Subsequent issues of coins, starting in 1941, are associated with World War II and are described in the corresponding section.