Thai baht

{{main|History of Thai money}} {{see also|Tical (unit)}}

{{Infobox currency

| currency_name = Siamese tical
{{small|(Predecimal Thai baht)}}

| image_1 = Coin Museum Thailand by Trisorn Triboon 64.jpg

| image_title_1 = Predecimal bullet coin issued by Rama III

| image_2 = 1876_1_Baht_O.png

| image_title_2 = Predecimal tical coin issued by Rama V

| plural = ticals (baht)

| symbol_comment = None official. The abbreviations Tcs, Tcl, 圓, or 銖 were used.

| superunit_ratio_1 = 80

| superunit_name_1 = chang

| superunit_ratio_2 = 4

| superunit_name_2 = tamlueng

| subunit_ratio_1 = {{frac|1|8}}

| subunit_name_1 = fueang

| subunit_ratio_2 = {{frac|1|64}}

| subunit_name_2 = at

| symbol_subunit_1 = F or 方

| banknote_article = Banknotes of the Thai baht

| coin_article = Thai baht#Coins

| frequently_used_banknotes = {{cslist|1 Tcs|5 Tcs}}

| rarely_used_banknotes = {{cslist|{{frac|1|8}} Tcs|{{frac|1|4}} Tcs|{{frac|3|8}} Tcs|{{frac|1|2}} Tcs|{{frac|5|8}} Tcs|{{frac|3|4}} Tcs|{{frac|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}}

| frequently_used_coins = {{cslist|{{frac|1|16}} F|{{frac|1|8}} F|{{frac|1|4}} F|{{frac|1|2}} F|1 F|{{frac|1|4}} Tcs|{{frac|1|2}} Tcs|1 Tcs|2.5 Tcs|4 Tcs|8 Tcs}}

| date_of_introduction = {{end date and age|1238}}

| date_of_withdrawal = {{end date and age|1910}}

| using_countries = {{flag|Rattanakosin Kingdom|name=Siam}}

| issuing_authority = Siamese government

| printer = see {{slink|#Predecimal banknotes}}

| mint = Royal Thai Mint

| pegged_with = Pound sterling (from 1908)
(13 baht per pound)

| obsolete = yes

| obsolete_notice = yes

}}

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from:1782 till:1809 color:o text:"Rattanakosin Issue 4 (Rama I)"

from:1809 till:1824 color:o text:"Rattanakosin Issue 5 (Rama II)"

from:1824 till:1851 color:o text:"Rattanakosin Issue 6 (Rama III)"

from:1851 till:1870 color:o text:"Rattanakosin Issue 7 (Rama IV)"

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from:1856 till:1862 color:p text:"Issue 1 (Rama IV, transitional)"

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from:1869 till:1910 color:r text:"Issue 3 (Rama IV)"

from:1875 till:1910 color:r text:"Issue 4 (Rama V)"

from:1888 till:1910 color:r text:"Issue 5 (Rama V)"

from:1897 till:1902 color:p text:"Issue 6 (Rama V, transitional)"

from:1908 till:1937 color:b text:"Issue 7 (Rama V, VI, VII, VIII)"

from:1910 till:1937 color:b text:"Issue 8 (Rama VI)"

from:1929 till:1937 color:b text:"Issue 9 (Rama VII)"

from:1937 till:1946 color:b text:"Issue 10 (Rama VIII)"

from:1946 till:1950 color:b text:"Issue 11 (Rama VIII)"

from:1950 till:1972 color:b text:"Issue 12 (Rama IX)"

from:1972 till:1977 color:b text:"Issue 13 (Rama IX)"

from:1977 till:1982 color:b text:"Issue 14 (Rama IX)"

from:1982 till:1987 color:b text:"Issue 15 (Rama IX)"

from:1987 till:2024 color:b text:"Issue 16-1 (Rama IX)"

from:2009 till:2024 color:b text:"Issue 16-2 (Rama IX)"

from:2018 till:2024 color:b text:"Issue 17 (Rama X)"

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from:1853 till: 1902 color:r text:"Mai Series (Rama IV)"

from:1856 till: 1902 color:r text:"Bai Phraratchathan Ngoentra Series (Rama IV)"

from:1892 till: 1902 color:r text:"Royal Treasury Series (Rama V)"

from:1889 till: 1902 color:r text:"Hong Kong and Shanghai Banking Corporation Series (Rama V)"

from:1884 till: 1902 color:r text:"Chartered Bank of India, Australia, and China Series (Rama V)"

from:1886 till: 1902 color:r text:"Banque de L'Indo-Chine Banknotes Series (Rama V)"

from:1902 till: 1925 color:b text:"Series 1 (Rama V, Rama VI)"

from:1925 till: 1934 color:b text:"Series 2 (Rama VI, Rama VII)"

from:1934 till: 1937 color:b text:"Series 3-1 (Rama VII)"

from:1935 till: 1937 color:b text:"Series 3-2 (Rama VIII)"

from:1937 till: 1942 color:b text:"Series 4-1 (Rama VIII)"

from:1942 till: 1942 color:b text:"Series 4-2 (Rama VIII)"

from:1942 till: 1945 color:b text:"Series 5 (Rama VIII)"

from:1945 till: 1945 color:b text:"Series 6 (Rama VIII)"

from:1945 till: 1945 color:b text:"Series 7 (Rama VIII)"

from:1945 till: 1948 color:b text:"Series 8 (Rama VIII)"

from:1948 till: 1968 color:b text:"Series 9-1 (Rama IX)"

from:1955 till: 1968 color:b text:"Series 9-2 (Rama IX)"

from:1968 till: 1969 color:b text:"Series 10 (Rama IX)"

from:1969 till: 1978 color:b text:"Series 11 (Rama IX)"

from:1978 till: 2003 color:b text:"Series 12 (Rama IX)"

from:1985 till: 2003 color:b text:"Series 13 (Rama IX)"

from:1994 till: 2024 color:b text:"Series 14 (Rama IX)"

from:2003 till: 2024 color:b text:"Series 15 (Rama IX)"

from:2013 till: 2024 color:b text:"Series 16-1 (Rama IX)"

from:2017 till: 2024 color:b text:"Series 16-2 (Rama IX)"

from:2018 till: 2024 color:b text:"Series 17 (Rama X)"

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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.{{cite web |title=Thailand Commemorative Bullet Coins (112) |url=https://coincoin.com/I112.htm |website=Scott Semans World Coins |access-date=25 October 2018 |archive-url=https://web.archive.org/web/20171111111216/http://www.coincoin.com/I112.htm |archive-date=11 November 2017 |url-status=dead }} 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:{{cite web |url=http://www.chiangmai-chiangrai.com/siamese_money.html |title= The History of Siamese Money |access-date=2018-10-25|date=2010-06-16|website= Welcome to Chiangmai & Chiangrai |archive-url = https://web.archive.org/web/20110928105132/http://www.chiangmai-chiangrai.com/siamese_money.html |archive-date = September 28, 2011 |url-status= dead |df= mdy-all}}{{cite web |script-title=th:เหรียญกษาปณ์ของไทย |trans-title=Coins of Thailand |url=http://www1.mod.go.th/heritage/nation/krasab/index1.htm |website=Ministry of Defense of Thailand |access-date=15 October 2011 |language=th |archive-url=https://web.archive.org/web/20120204133229/http://www1.mod.go.th/heritage/nation/krasab/index1.htm |archive-date=2012-02-04 |url-status=dead }} 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 8 at. Currently, the Thai baht do not employ the at as a subunit, but the at is the current subunit of the Lao kip.

File:Siamese Pre-Decimal Tical System.png

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 demonetization 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.{{cite web |script-title=th:เงินตรา |trans-title=Money |url=http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=46&filename=index |publisher=Royal Thai Mint |access-date=22 November 2020 |language=th |archive-date=4 March 2016 |archive-url=https://web.archive.org/web/20160304103729/http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=46&filename=index |url-status=live }} However, coins denominated in the old units were issued until 1910, and the amount of 25 satang is still commonly referred to as a {{lang|th-Latn|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.{{cite web |script-title=th:รัชกาลที่ 4 รับสั่งทำ "เหรียญกระษาปณ์" รับมือการค้ากับต่างชาติ |trans-title=King Mongkut ordered the production of western style coins as the response to the rising trades with foreigners|url=https://www.silpa-mag.com/history/article_29937|website=Silpa Watthanatham Magazine|date=27 March 2019|access-date=22 November 2020|language=th|archive-date=21 November 2020|archive-url=https://web.archive.org/web/20201121204620/https://www.silpa-mag.com/history/article_29937|url-status=live}} Before 1880 the exchange rate was fixed at 8 baht per pound sterling, falling to 10 to the pound 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 pound sterling, the currency rose in value until, in 1908, a fixed peg to the British pound sterling was established of 13 baht per pound. 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.{{cite web |script-title=th:กฎกระทรวงการคลัง ออกตามความในพระราชบัญญัติ เงินตราในภาวะฉุกเฉิน พุทธศักราช 2484 (ฉะบับที่ 3) |trans-title=Ministry of Finance Regulation issued according to Currency during the Emergency Situation of BE 2484 (Issue No. 3)

|url=https://dl.parliament.go.th/handle/lirt/237846 |archive-url=https://web.archive.org/web/20211024193720/https://dl.parliament.go.th/handle/lirt/237846 |url-status=dead |archive-date=October 24, 2021 |website=Legislative Institutional Repository of Thailand |access-date=22 November 2020 |language=th }}{{cite web |title=The Currency Before and During the War by Prince Vivadhanajaya 21 July BE 2488 (1945) |url=https://vajirayana.org/%E0%B8%A7%E0%B8%B4%E0%B8%A7%E0%B8%B1%E0%B8%92%E0%B8%99%E0%B9%84%E0%B8%8A%E0%B8%A2%E0%B8%B2%E0%B8%99%E0%B8%B8%E0%B8%AA%E0%B8%A3%E0%B8%93%E0%B9%8C/%E0%B8%A3%E0%B8%B0%E0%B8%9A%E0%B8%9A%E0%B9%80%E0%B8%87%E0%B8%B4%E0%B8%99%E0%B8%95%E0%B8%A3%E0%B8%B2/currency-and-during-war |website={{lang|th|วชิรญาณ}} |access-date=23 November 2020 |language=en |archive-date=30 November 2020 |archive-url=https://web.archive.org/web/20201130033417/https://vajirayana.org/%E0%B8%A7%E0%B8%B4%E0%B8%A7%E0%B8%B1%E0%B8%92%E0%B8%99%E0%B9%84%E0%B8%8A%E0%B8%A2%E0%B8%B2%E0%B8%99%E0%B8%B8%E0%B8%AA%E0%B8%A3%E0%B8%93%E0%B9%8C/%E0%B8%A3%E0%B8%B0%E0%B8%9A%E0%B8%9A%E0%B9%80%E0%B8%87%E0%B8%B4%E0%B8%99%E0%B8%95%E0%B8%A3%E0%B8%B2/currency-and-during-war |url-status=live }}

From 1956 until 1973, the baht was pegged to the US dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978.{{cite journal |script-title=th:จากระบบอัตราแลกเปลี่ยนอิงตะกร้าเงินสู่ระบบอัตราแลกเปลี่ยนลอยตัว |trans-title=From Monetary FOREX system to floating FOREX |journal={{lang|th|เศรษฐสาร}} |volume=11 |issue=7 (July) |orig-date=BE 2540 |date=1997 |url=http://www.econ.tu.ac.th/oldweb/doc/article/fulltext/81.pdf |url-status=live |archive-url=https://web.archive.org/web/20200307010248/http://www.econ.tu.ac.th/oldweb/doc/article/fulltext/81.pdf |archive-date=7 March 2020 |access-date=28 May 2012 |language=th }}

{{cite web |url=http://info.gotomanager.com/news/details.aspx?id=9460 |script-title=th:ลดค่าเงินบาทในภาษาที่ทุกคนเข้าใจ โดย เสรี ทรัพย์เจริญ นิตยสารผู้จัดการ พฤศจิกายน 2527 |language=th |access-date=22 November 2020 |archive-date=25 December 2015 |archive-url=https://web.archive.org/web/20151225104336/http://info.gotomanager.com/news/details.aspx?id=9460 |url-status=dead }} A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar 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 dollar in January 1998. It rose to 30 per dollar in January 2021.

The baht was originally known to foreigners by the term tical,{{cite journal |last=de Campos |first=J. J. |year=1941 |title=The Origin of the Tical |journal=Journal of the Siam Society |volume=33.2c |publisher=Siam Heritage Trust |url=http://www.siamese-heritage.org/jsspdf/1941/JSS_033_2c_Campos_OriginOfTical.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.siamese-heritage.org/jsspdf/1941/JSS_033_2c_Campos_OriginOfTical.pdf |archive-date=2022-10-09 |url-status=live |access-date= June 23, 2013 |quote=From the earliest times in Southern Burma, the weight adopted were not the Chinese liang or tael or its variants, but the Indian bahur and the viss, the latter being divided into 100 ticals. It is this Burmese tical, which was and continues to be in Burma the designation of a definite weight of uncoined silver or its compound, that throws light on the problem of the Thai tical. }} which was used in English language text on banknotes until the series 2 1925.{{cite web |url=http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series01.aspx |title=Banknotes, Series 1 |date=23 February 2012 |website=Bank of Thailand |access-date=9 May 2012 |quote=each denomination had many types which were printed by Thomas De La Rue & Company Limited, England. |archive-date=4 April 2016 |archive-url=https://web.archive.org/web/20160404015111/https://www.bot.or.th/English/Banknotes/HistoryAndSeriesOfBanknotes/Pages/Banknote_Series01.aspx |url-status=dead }}{{cite web |url=http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series02.aspx |title=Banknotes, Series 2 |date=22 November 2020 |website=Bank of Thailand |access-date=22 November 2020 |archive-date=4 July 2012 |archive-url=https://web.archive.org/web/20120704102039/http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series02.aspx |url-status=dead }}

The currency symbol for the baht is {{char|฿}} (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,{{cite report |url=https://unicode.org/Public/MAPPINGS/ISO8859/8859-11.TXT |title=ISO/IEC 8859-11:2001 to Unicode |publisher=Unicode Consortium |date=2015-12-02}} where the symbol was allocated the codepoint {{unichar|0E3F}}.{{cite book |title=The Unicode Standard, version 1.0 |chapter=Chapter 3/2 |chapter-url=https://www.unicode.org/versions/Unicode1.0.0/ch03_2.pdf |page=80 |date=October 1991}}

The symbol is also used for the Panamanian balboa.{{cite book |title=Diccionario panhispánico de dudas |publisher=Real Academia Española y Asociación de Academias de la Lengua Española |edition=2.ª (versión provisional) |url=https://www.rae.es/dpd/ayuda/simbolos-o-signos-no-alfabetizables |access-date=16 July 2024 |language=es |chapter=Símbolos o signos no alfabetizables}}

In Thai usage, the baht ({{lang|th|บาท}}) is legally abbreviated as {{lang|th|บ.}} according to Section 7 of the Currency Act, B.E. 2501.{{cite web |title=พระราชบัญญัติเงินตรา พ.ศ. 2501 (ฉบับประมวล) |url=https://www.bot.or.th/content/dam/bot/documents/th/laws-and-rules/laws-and-regulations/legal-department/2-currency-act/2-1-currency-act/2-1-1-Law-TH-CurrencyUpdated-2545.pdf |website=Bank of Thailand |access-date=6 June 2024 |language=th |date=2002}}

For a time, the baht symbol was appropriated by some as a symbol for Bitcoin, a cryptocurrency. Following representations,{{cite web |title=Proposal for addition of bitcoin sign |first=Ken |last=Shirriff |date=October 2, 2015 |publisher=Unicode Consortium |url=https://www.unicode.org/L2/L2015/15229-bitcoin-sign.pdf}} a separate code point ({{unichar|20BF}}, a Latin letter B with two vertical strokes) was allocated in Unicode version 10.0.{{cite web |date=20 June 2017 |title=Unicode 10.0.0 |url=https://www.unicode.org/versions/Unicode10.0.0/ |access-date=20 June 2017 |publisher=Unicode Consortium}}

{{contains special characters|section}}

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, {{unichar|332C}}, is documented in subsequent versions of the standard as "a mistaken, unused representation" and users are directed to {{unichar|0E3F}} instead.{{cite book |title=The Unicode Standard, Version 15.1 |chapter=CJK compatibility 3300{{ndash}}33FF |chapter-url=https://unicode.org/charts/PDF/U3300.pdf |page=3327{{ndash}}334C}} Consequently, only a few computer fonts have any content for this codepoint and its use is deprecated.{{cite web |title=CJK Type {{!}} CJK Fonts, Character Sets & Encodings. All CJK. All of the time. |first=Ken |last=Lunde |date= March 26, 2016 |archive-url=https://web.archive.org/web/20160629215711/http://blogs.adobe.com/CCJKType/2016/03/bahts-is-parts.html |archive-date=29 June 2016 |url=https://blogs.adobe.com/CCJKType/2016/03/bahts-is-parts.html |url-status=dead |publisher=Adobe Inc.}}

(The Japanese for "baht" is {{lang|ja|{{big|バ}}ーツ}} ({{Transliteration|ja|bātsu}}). However, the reference glyph {{angbr|㌬}} and the character name correspond to {{lang|ja|{{big|パ}}ーツ}} ({{Transliteration|ja|pātsu}}, from English "parts").)

Before decimalization, 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 decimalization in the 1900s, the currency was all but monolingual.

{{lang-zh|c=圓|p=yuán|labels=no}} ({{lang|th|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.

{{lang-zh|t=銖|s=铢|p=zhū|labels=no|first=t}} ({{lang|th|บาท}}): This character was in use from 1868–1925 officially on banknotes to represent baht. It is still in use today unofficially to refer to the Thai baht in general, as in {{lang|zh|泰銖}} or {{lang|zh|泰铢}}.

{{lang-zh|t=錢|s=銭|p=qián|labels=no|first=t}} ({{lang|th|สลึง}}): This character was in use from 1851–1908 officially on banknotes and coins to represent salueng.

{{lang-zh|c=方|p=fāng|labels=no}} ({{lang|th|เฟื้อง}}): This character was in use from 1851–1908 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 {{lang|zh|圓壹}} or {{lang|zh|銖壹}}, if there are smaller units involved the notation can write like such: {{lang|zh|方銭參圓壹}} for one baht, three salueng, and one fueang.

*actual year produced vs year in active use

File:Tailandia.jpg

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.{{cite web |url=http://www.matichon.co.th/mtc-flv-window.php?newsid=1323259839 |script-title=th:อันซีน "พิพิธภัณฑ์มีชีวิต ธนบัตรมีเรื่องราว" แห่งเดียวในประเทศไทย [Unseen living museum - Banknotes have stories from the unique museum in Thailand]|language=th |work=Matichon |access-date=8 December 2011 |archive-url=https://web.archive.org/web/20151222112321/http://www.matichon.co.th/mtc-flv-window.php?newsid=1323259839 |archive-date=2015-12-22 |url-status=dead }}{{cite book|title=เบี้ย บาท กษาปณ์แบงค์ [Cowrie, Baht, Coins, and Bank] โดย นวรัตน์ เลขะกุล|first=Nawarat |last=Lekhakum|publisher= สำนักพิมพ์สารคดี [Sarakhadee Press]|language=th |date=2009}} Denominations issued included {{frac|128}}, {{frac|64}}, {{frac|32}}, {{frac|16}}, {{frac|8}}, {{frac|2}}, 1, {{frac|1|1|2}}, 2, {{frac|2|1|2}}, 4, {{frac|4|1|2}}, 8, 10, 20, 40 and 80 baht in silver and {{frac|32}}, {{frac|16}}, {{frac|8}}, {{frac|2}}, 1, {{frac|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.

Photduang, a form of currency used during the Sukhothai period, was characterized 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.{{Cite web |last=Watanalumleard |first=S. |date= |title=The Story of Photduang |url=http://coinmuseum.treasury.go.th/en/news_view.php?nid=118 |access-date=August 7, 2024 |website=coinmuseum}}

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

File:Administrative Division of Rattanakosin Kingdom in 1805.jpg

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 symbolized the kingdom's ruling dynasty, while the king's personal mark represented the reigning monarch.

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 monopolized 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 symbolizing 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 symbolizing different aspects of the king's reign or divine associations.

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from:1897 till:1902 color:p text:"Issue 6 (Rama V, transitional)"

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from:1950 till:1972 color:b text:"Issue 12 (Rama IX)"

from:1972 till:1977 color:b text:"Issue 13 (Rama IX)"

from:1977 till:1982 color:b text:"Issue 14 (Rama IX)"

from:1982 till:1987 color:b text:"Issue 15 (Rama IX)"

from:1987 till:2024 color:b text:"Issue 16-1 (Rama IX)"

from:2009 till:2024 color:b text:"Issue 16-2 (Rama IX)"

from:2018 till:2024 color:b text:"Issue 17 (Rama X)"

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{{Cite web |last=Wattanalumleard |first=S. |date= |title=The Story of Photduang |url=http://coinmuseum.treasury.go.th/en/news_view.php?nid=118 |access-date=August 7, 2024 |website=coinmuseum}} *continues in the coin section*

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.{{cite web|url=http://phila09-04.eurseree.com/cgi-bin/info/agora.cgi?cart_id=5286534.107769*KJ66o8&p_id=1196&xm=on&ppinc=search2|title=1835 Rama III unadopted design copper coin "Lotus - MuangThai"|access-date=2015-10-20|archive-date=2015-12-22|archive-url=https://web.archive.org/web/20151222110629/http://phila09-04.eurseree.com/cgi-bin/info/agora.cgi?cart_id=5286534.107769*KJ66o8&p_id=1196&xm=on&ppinc=search2|url-status=live}}{{cite web|url=http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=46&filename=index|script-title=th:เงินตรา|website=Royal Thai Mint|language=th|access-date=20 October 2015|archive-url=https://web.archive.org/web/20160304103729/http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=46&filename=index|archive-date=4 March 2016|url-status=dead}}

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 {{frac|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.

File:Administrative Division of Rattanakosin Kingdom in 1850.jpg

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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 modernization of the monetary system, the king employed Robert Hunter, a Scottish merchant, to produce pattern coins.Elephant-Mueang Thai - Rama III, Thailand. Numista.com. Published 2025. Accessed May 9, 2025. https://en.numista.com/catalogue/pieces174244.html

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 modernization of Siamese currency prior to the eventual adoption of machine-struck coinage in the reign of King Rama IV.

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.{{Cite web |title=1 Fueang - Rama IV, Thailand |url=https://en.numista.com/catalogue/pieces176191.html |access-date=2024-03-05 |website=en.numista.com |language=en}}

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.{{Cite web |title=2½ Baht |url=https://en.numista.com/catalogue/pieces24271.html |access-date=2024-03-05 |website=en.numista.com |language=en}} The pit means twenty, as in 1/20 of a chang, the other name is ekkang, or one thai tamlueng.{{Cite web |title=4 Baht |url=https://en.numista.com/catalogue/pieces135454.html |access-date=2024-03-05 |website=en.numista.com |language=en}} The tot means ten, as in 1/10 of a chang. The coin was also called thukkang, which means two tamlueng.{{Cite web |title=8 Baht |url=https://en.numista.com/catalogue/pieces24453.html |access-date=2024-03-05 |website=en.numista.com |language=en}} 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.เหรียญทองคำทศ พิศ พัดดึงส์ | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-king4-gold/‌

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.เหรียญเงินตราพระมหามงกุฏ-พระแสงจักร (บรรณาการ) | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-king4-tribute/‌ It is worth noting that coins of the half-fuang denomination were not mentioned in official announcements.เหรียญเงินตราพระมหามงกุฎ - พระแสงจักร | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k4-1/‌

In 1863, the royal treasury was reportedly overflowing with gold, with this Rama IV ordered the production of gold coin in additional to the already existing silver series. Intended for circulation, the coin was released to an unfimilar populus, this the people made this coin into jewery instead. A fully intact coin with no holes are exceding 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 equaled 1 fuang and 4 coins equaled 1 fuang), making them trustworthy. Therefore, thinner and lighter coins would still serve their purpose effectively without causing harm.เหรียญทองแดงตราพระมหามงกุฎ - พระแสงจักร แบบบาง | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k4-6/‌

With the crowning of King Rama 5 in 1868, his majesty decided to tackle the massive counfeiting 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 fufilled its duties and eliminated a huge portion of counterfeited productions.

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.{{Cite web |title=1 Fuang - Rama V, Thailand |url=https://en.numista.com/catalogue/pieces33330.html |access-date=2024-03-05 |website=en.numista.com |language=en}} 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, England. This marked the first time that coins were minted abroad for circulation in Siam.เหรียญทองแดงตรา จ.ป.ร. - ช่อชัยพฤกษ์ | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k5-2/

‌ 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.เหรียญเงิน พระบรมรูป - ตราแผ่นดิน | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k5-5/

‌

File:Administrative Division of Rattanakosin Kingdom in 1882.jpg

This was a minor issue, in which the lesser denominations' designs were updated to incorporate the three-parted{{clarify|date=April 2025}} shield into the design. This copper coin was produced to replace previous versions and was minted in England, with additional production by the Royal Mint of Thailand.เหรียญทองแดง พระบรมรูป - ตราพระสยามเทวาธิราช | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k5-3/‌ 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.1 Siao / 2 Att - Rama V, Thailand. Numista.com. Published 2024. Accessed December 31, 2024. https://en.numista.com/catalogue/pieces11037.html‌ 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{{clarify|date=April 2025}} was medal aligned and was minted in the Birmingham Mint, but R.S. 118 coins were minted in Hamburg had coin alignement.1 Solot / {{frac|1|16}}} Fueang / {{frac|1|2}} Att - Rama V, Thailand. Numista.com. Published 2024. Accessed December 31, 2024. https://en.numista.com/catalogue/pieces13246.html‌

File:Minting alignment thai coin example.jpg

The decimalization 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 decimalization would make counting easier and further modernize 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.{{Cite web |title=2½ Satang - Rama V, Thailand |url=https://en.numista.com/catalogue/pieces27448.html |access-date=2024-03-05 |website=en.numista.com |language=en}} 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 {{frac|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 {{frac|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.

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

File:Administrative Division of Siamese Kingdom in 1900.jpg

Baht to 1 Chang. Despite its widespread use, the system’s complexity made it difficult to manage and calculate.

Recognizing the inefficiencies, the Minister of Treasury proposed to King Rama V that Siam’s currency system should be decimalized. The proposal aimed to modernize 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 demonetized on May 17, RS 128 / BE 2452 / AD 1909. Citizens were given a grace period to exchange the demonetized 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.2½ Satang - Rama V, Thailand. Numista.com. Published 2025. Accessed January 3, 2025. https://en.numista.com/catalogue/pieces27448.html

‌

File:Administrative Division of Siamese Kingdom in 1900.jpg

In 1908, the Siamese government comission Monnaie de Paris mint to produce a new series of coins for Rama V. The 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.

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.เหรียญนิกเกิล ทองแดง ตราอุณาโลม - พระแสงจักร | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k6-1/

‌ 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.เหรียญเงิน พระบรมรูป - ตราไอราพต | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k6-2/

‌ 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.

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.เหรียญเงิน พระบรมรูป - ตราช้างทรงเครื่อง | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k7-1/

‌ Though, people today still refer to these denomination using the old terminology.

File:Administrative Division of Thai Kingdom in 1945.jpg

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.เหรียญเงิน ทองแดง ตราลายกระหนก | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k8-3/‌ 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.เหรียญทองแดง ครึ่งสตางค์ ตราอุณาโลม - พระแสงจักร | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k8-2/‌

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.เหรียญดีบุก ตราลายกระหนก พ.ศ. 2485 | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k8-4/‌

File:Administrative Division of Thai Kingdom in 1950.jpg

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.เหรียญดีบุก พระบรมรูป - ตราพระครุฑพ่าห์ (ทรงเจริญพระชนมพรรษา) | กรมธนารักษ์. กรมธนารักษ์ : The Treasury Department. Published 2024. Accessed December 20, 2024. https://www.treasury.go.th/th/coin-k8-6/

‌

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.

The current coin series is the 14th issue.

In 2008, in the 13th 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 color 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.

1. The 1, 5 and 10 satang are used only internally between banks and are not in circulation.{{Cite web |url=http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=784&filename=index |title=Current coins – Royal Thai Mint |access-date=2019-06-17 |archive-url=https://web.archive.org/web/20190625202018/http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=784 |archive-date=2019-06-25 |url-status=dead }}
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.{{cite web |url=http://coinworld.com/news/021802/news-5.asp |title=Thai bahts causing euro problems - 10-baht coins work in place of 2-euro coins in machines |first=William T. |last=Gibbs |date=Feb 11, 2002 |work=Coin World |publisher=Amos Press |archive-url=https://web.archive.org/web/20090302014633/http://coinworld.com/news/021802/news-5.asp |archive-date=March 2, 2009 |url-status=dead }}
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.{{which|date=June 2015}}

In February 2010 the Treasury Department of Thailand stated that it has been planning a new circulation 20-baht coin.{{cite web | url=http://www.bangkokpost.com/business/economics/32096/20-baht-coins-may-substitute-banknotes | archive-url=https://web.archive.org/web/20100204202303/http://www.bangkokpost.com/business/economics/32096/20-baht-coins-may-substitute-banknotes | archive-date=4 February 2010 | title=20-baht coins may substitute banknotes }}

File:1862 1 Baht O.png|· Rama IV ·

File:1869 1 Baht R.png|· Rama V ·

File:1876 1 Baht O.png|· Rama V ·

File:1888 1 Siao O.png|· Rama V ·

File:1908 1 Baht O.png|· Rama V ·

File:1913 1 Baht O.png|· Rama VI ·

File:1929 50 Satang O.png|· Rama VII ·

File:1941 20 Satang O.png|· Rama VIII · Regency

File:1946 50 Satang O.png|· Rama VIII ·

File:1946 50 Satang O Posthumous.png|· Rama VIII ·

File:1957 1 Baht O.png|· Rama IX ·

File:1962 1 Baht O.png|· Rama IX ·

File:1972 5 Baht O.png|· Rama IX ·

File:1977 5 baht obverse.png|· Rama IX ·

File:1982 5 baht obverse.png|· Rama IX ·

File:5 baht coin (Rama X, obverse).jpg|· Rama X ·

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.)

{{main|Banknotes of the Thai baht}}

In 1851, the government issued notes for {{frac|8}}, {{frac|4}}, {{frac|3|8}}, {{frac|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, 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,{{cite web

|url= http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series01.aspx

|title= Banknotes, Series 1

|date= Feb 26, 2012

|publisher= Bank of Thailand

|quote= The design was printed only on one side; so the note was called 'Uniface banknote'. There were 7 denominations....

|access-date= November 22, 2012

|archive-date= April 4, 2016

|archive-url= https://web.archive.org/web/20160404015111/https://www.bot.or.th/English/Banknotes/HistoryAndSeriesOfBanknotes/Pages/Banknote_Series01.aspx

|url-status= dead

}} 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;{{cite web

|url= http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series02.aspx

|title= Banknotes, Series 2

|date= Feb 26, 2012

|publisher= Bank of Thailand

|quote= on the back side was the picture of the Royal Ploughing Ceremony. This type of banknote was called "Ploughing Ceremony Note".

|archive-url= https://web.archive.org/web/20120704102039/http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series02.aspx

|archive-date= July 4, 2012

|url-status= dead

}} English speakers continued to refer to these as "ticals".{{cite journal |author= Duncan Stearn |date= 27 June – 3 July 2003 |title= Rise of state-sponsored militarism and socialism |journal= Pattaya Mail |volume= XI |issue= 26 |location= Pattaya |publisher= Pattaya Mail Publishing Co |url= http://www.pattayamail.com/517/columns.shtml#hd6 |access-date= 18 Feb 2012 |quote= "Does Japan dominate Siam?" I asked a leading Englishman in Bangkok. He laughed quietly: "Have you any Siamese money?" he asked. I drew out a five-ticul note (about 2 dollars 50c). "Read what is printed at the foot of the note", he commanded. I read, "Thomas de la Rue and Co., London". With calm confidence he said: "As long as the word 'London' stands on that Siamese bill, it is not Japan but another little island which will have the larger say in the Kingdom of Siam." |archive-url= https://web.archive.org/web/20111101035856/http://www.pattayamail.com/517/columns.shtml#hd6 |archive-date= 1 November 2011 |url-status= dead }}

On 27 July 2010, the Bank of Thailand announced that the 16th-series banknotes would enter circulation in December 2010.{{cite news | title =New banknotes coming in December | url =http://www.nationmultimedia.com/home/2010/07/28/national/New-banknotes-coming-in-December-30134701.html | work =The Nation | date =2010-07-28 | access-date =2010-07-28 | quote =new Thai banknote will circulate in December 2010 | archive-url =https://web.archive.org/web/20100729014730/http://www.nationmultimedia.com/home/2010/07/28/national/New-banknotes-coming-in-December-30134701.html | archive-date =2010-07-29 | url-status =dead }}{{Cite web |url=http://banknotenews.com/files/07dfceb6e55bf92b146e10839d677bdc-1202.php |title=Thailand to issue new note family in December 2010 |access-date=2010-11-03 |archive-date=2011-08-12 |archive-url=https://web.archive.org/web/20110812050937/http://banknotenews.com/files/07dfceb6e55bf92b146e10839d677bdc-1202.php |url-status=dead }} On 9 August 2012, the Bank of Thailand issued a new denomination banknote, 80 baht, to commemorate queen Sirikit's 80th birthday.{{cite web

|url= http://www.bot.or.th/Thai/PressAndSpeeches/Press/News2555/n3655e.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.bot.or.th/Thai/PressAndSpeeches/Press/News2555/n3655e.pdf |archive-date=2022-10-09 |url-status=live|title=The Introduction of Two Commemorative Banknotes on the Auspicious Occasions of Her Majesty the Queen's 80th Birthday Anniversary 12 August 2012 and His Royal Highness Crown Prince Maha Vajiralongkorn's 5th Cycle Birthday Anniversary|date=3 July 2012 |website= Bank of Thailand|access-date=18 October 2012}} 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.[https://www.bot.or.th/English/Banknotes/HistoryAndSeriesOfBanknotes/Pages/comm_KingRama9_Detail.aspx Commemorative Banknote in Remembrance of His Majesty King Bhumibol Adulyadej] {{Webarchive|url=https://web.archive.org/web/20171201043435/https://www.bot.or.th/English/Banknotes/HistoryAndSeriesOfBanknotes/Pages/comm_KingRama9_Detail.aspx |date=2017-12-01 }} Bank of Thailand (www.bot.or.th). Retrieved on 2017-07-21.

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, April 6, 2018. The final two denominations, 500 and 1,000 baht were issued on the anniversary of the birth of King Maha Vajiralongkorn, July 28, 2018.[https://www.bot.or.th/Thai/PressandSpeeches/Press/News2561/n1761e.pdf The Bank of Thailand Launches New Series of Thai Banknotes (Series 17)] {{Webarchive|url=https://web.archive.org/web/20180310135947/https://www.bot.or.th/Thai/PressandSpeeches/Press/News2561/n1761e.pdf |date=2018-03-10 }} Bank of Thailand (https://www.bot.or.th {{Webarchive|url=https://web.archive.org/web/20160210003215/http://www2.bot.or.th/ |date=2016-02-10 }}). Retrieved on 2018-03-09.

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from:1889 till: 1902 color:r text:"Hong Kong and Shanghai Banking Corporation Series"

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from:1886 till: 1902 color:r text:"Banque de L'Indo-Chine Banknotes Series"

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from:1925 till: 1934 color:b text:"Series 2"

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from:1942 till: 1942 color:b text:"Series 4-2"

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from:1945 till: 1945 color:b text:"Series 6"

from:1945 till: 1945 color:b text:"Series 7"

from:1945 till: 1948 color:b text:"Series 8"

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from:1968 till: 1969 color:b text:"Series 10"

from:1969 till: 1978 color:b text:"Series 11"

from:1978 till: 2003 color:b text:"Series 12"

from:1985 till: 2003 color:b text:"Series 13"

from:1994 till: 2024 color:b text:"Series 14"

from:2003 till: 2024 color:b text:"Series 15"

from:2013 till: 2024 color:b text:"Series 16-1"

from:2017 till: 2024 color:b text:"Series 16-2"

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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.

File:Series 1 Banknote Siam.jpg|Series 1

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 Thomas De La Rue & Company Limited. 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.{{Cite web |title=1st Series Thai Banknotes |url=http://www.siambanknote.com/banknote-appraisal/1st-series-thaibanknote-price.htm |access-date=2023-09-11 |website=www.siambanknote.com}} 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.

File:Series 2 Banknote Siam.jpg|Series 2

File:Series 3i Banknote Siam.jpg|Series 3 Type 1

Series 2 banknotes were produced by Thomas De La Rue & Company Limited.

Series 3 type 1 banknotes were produced by Thomas De La Rue & Company Limited. 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.

File:Series 3ii Banknote Siam.jpg|Series 3 Type 2

File:Series 4i Banknote Siam.jpg|Series 4 Type 1

File:Series 4ii Banknote Siam.jpg|Series 4 Type 2

File:Series 5 Banknote Siam.jpg|Series 5

File:Series 6 Banknote Siam.jpg|Series 6

File:Series 7 Banknote Siam.png|Series 7

File:Series 8 Banknote Siam.png|Series 8

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

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

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 Thomas De La Rue & Company Limited.

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

Series 6 banknotes were produced by Royal Thai Survey Department.

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.

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

At the end of World War II, Thomas De La Rue & Company Limited'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.

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

File:Series 9 Second Portrait.jpg|Series 9, second portrait

File:Series 10 Thailand Banknote.jpg|Series 10

File:Series 11 Thailand Banknote.jpg|Series 11

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.[https://www.ipthailand.go.th/images/3534/2564/Copyright/Copyright_Act_ENG.pdf]

So as to serve as an educational material, only one side is shown and any series beyond series 13 is omitted.

File:Series 9 Banknote Portrait Difference.png

Series 9 banknotes were produced by Thomas De La Rue & Company Limited. There are two variations within this series, the young, and new portrait. According to the Bank of Thailand, the color schemes of this series established the denominations' colors for all of the following series due to the series circulating for 20 years.{{Cite web |title=Series 9 |url=https://www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series9.html |access-date=2023-08-29 |website=www.bot.or.th |language=en}}

Series 10 banknotes were produced by Thomas De La Rue & Company Limited. Due to heavy counterfeiting, series 10 was issued in series 9's stead.{{Cite web |title=ธนบัตรแบบ10 |url=https://www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series10.html |access-date=2023-08-29 |website=www.bot.or.th |language=en}} The 100-baht note is the only denomination issued in this series.

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.{{Cite web |title=ธนบัตรแบบ11 |url=https://www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series11.html |access-date=2023-08-29 |website=www.bot.or.th |language=en}} As a consequence, the 1-baht note's production was cancelled.

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.{{Cite web |title=ธนบัตรแบบ13 |url=https://www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series13.html |access-date=2023-08-29 |website=www.bot.or.th |language=en}}

Images of banknotes have been removed lest they infringe copyright,{{cite web|url= http://www.bot.or.th/English/Banknotes/Banknote%20service/Pages/Banknote_for_AD.aspx|title= Reproduction of Thai banknotes|author= Wararat, service manager|publisher= Bank of Thailand|access-date= 27 Nov 2011|quote= In Thailand, the Bank of Thailand (BOT) has the sole right to design, produce, issue, circulate and manage Thai banknotes. The reproduction of Thai banknotes is protected by the Copyright Act B.E. 2537 Ch.1 Pt.5 §27 (2) communication to public.|archive-url= https://web.archive.org/web/20111206073833/http://www.bot.or.th/English/Banknotes/Banknote%20service/Pages/Banknote_for_AD.aspx|archive-date= 2011-12-06|url-status= dead}} but may be viewed at the Thai-language article linked in the margin.

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.{{Cite web |title=Series 14 |url=https://www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series14.html |access-date=2024-08-24 |website=www.bot.or.th |language=en}}{{Cite web |title=50 Baht - Rama IX, Thailand |url=https://en.numista.com/catalogue/note202941.html |access-date=2024-08-24 |website=en.numista.com |language=en}}

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.{{Cite web |title=Series 15 |url=https://www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series15.html |access-date=2024-08-24 |website=www.bot.or.th |language=en}}

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.

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.[http://www.bangkokpost.com/news/local/30756/a-sure-bet-or-fool-gold "A sure bet or fool's gold?"], Bangkok Post 2010-01-10{{Dead link|date=October 2018}} Since the standard purity of Thai gold is 96.5 percent, 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.

File:USD rate to THB.svg/THB from 1980 to 2015]]

File:Euro exchange rate to THB.svg/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 percent 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.{{cite news | url=http://in.reuters.com/article/idINSP20869920080303 | work=Reuters | title=UPDATE 1-Onshore and offshore Thai baht converge, c.bank seen | date=3 March 2008 | access-date=12 September 2010 | archive-date=22 November 2020 | archive-url=https://web.archive.org/web/20201122120207/https://in.reuters.com/article/idINSP20869920080303 | url-status=dead }}

(Source 1999–2013: usd.fx-exchange.com)

(Source 2014–2020: Bank of Thailand) [https://www.bot.or.th/english/_layouts/application/exchangerate/exchangerateago.aspx] {{Webarchive|url=https://web.archive.org/web/20210123072242/https://www.bot.or.th/english/_layouts/application/exchangerate/ExchangeRateAgo.aspx |date=2021-01-23 }}

{{Exchange rate|THB|INR|TWD}}

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

File:Podduang and Flatcoins.jpg|Podduang to Flatcoins (฿1=฿1)

File:Physical Conversion in 1900 Pounds LSD to Baht.jpg|British Pound (lsd) to THB (£1=฿17/6/1)

File:Physical Conversion in 1900 Baht to Pounds LSD.jpg|THB to British Pound (lsd) (฿1=£0/1/1½)

File:Physical Conversion in 1900 LMU to Baht.jpg|Latin Monetary Union unit to THB (1=฿0/5/5)

File:Physical Conversion in 1900 Baht to LMU.jpg|THB to Latin Monetary Union unit (฿1=1.42)

File:Physical Conversion in 1900 Mark to Baht.jpg|Deutsche Mark to THB (ℳ︁1=฿0/6/7½)

File:Physical Conversion in 1900 Baht to Mark.jpg|THB to Deutsche Mark (฿1=ℳ︁1.15)

File:Physical Conversion in 1900 Dutch Gulden to Baht.jpg|Dutch Gulden to THB (1ƒ=฿1/3/7)

File:Physical Conversion in 1900 Baht to Dutch Gulden.jpg|THB to Dutch Gulden (฿1=0.68ƒ)

File:Physical Conversion in 1900 USD to Baht.jpg|USD to THB ($1=฿3/4/4½)

File:Physical Conversion in 1900 Baht to USD.jpg|THB to USD (฿1=$0.28)

File:Physical Conversion in 1900 Yen to Baht.jpg|JPY to THB (¥1=฿1/2/2½)

File:Physical Conversion in 1900 Baht to Yen.jpg|THB to JPY (฿1=¥0.55)

File:Physical Conversion in 1900 Rupee to Baht.jpg|INR (British Raj) to THB (Rs.1=฿0/5/5½)

File:Physical Conversion in 1900 Baht to Rupee.jpg|THB to INR (British Raj) (฿1=Rs.1/6/2)

File:Physical Conversion in 1900 Egyptian Pound to Baht.jpg|Egyptian Lira to THB (£E1/5=฿3/6/5)

File:Physical Conversion in 1900 US Philippines Peso to Baht.jpg|Philippines Peso to THB (P$1=฿1/6/2½)

File:Physical Conversion in 1900 Imperial Ruble to Baht.jpg|Imperial Ruble to THB (₽1=฿1/6/5)

File:Physical Conversion in 1900 Baht to Imperial Ruble.jpg|THB to Imperial Ruble (฿1=₽0.55)

File:Physical Conversion in 1900 Kyat to Baht.jpg|Konbaung Kyat to THB (1ကျပ်=฿0/5/5½)

File:Physical Conversion in 1900 Mexican Dollar to Baht.jpg|Mexican Peso to THB (M$1=฿1/5/2½)

File:Physical Conversion in 1900 Canadian Dollar to Baht.jpg|Canadian Dollar to THB (C$1=฿3/5/2½)

File:KRONAtoTHB1900.jpg|Scandinavian Monetary Unit to THB (SKr.1=฿0/5/5)

File:BALBOAtoTHB.jpg|Panamanian Balboa to THB (B/.1=฿3/4/4½)

File:AUSTROHUNGARYCr.toBAHT1900.jpg|Austro-Hungarian Corona to THB (K.1=฿0/5/7½)

File:THALERtoTHB1900.jpg|Austria Thaler to THB (MTT$1=฿1/3/6½)

File:OTTOMANKURUStoTHB1900.jpg|Ottoman Kurush to THB (Kş.6=฿0/3/½)

File:PERUSOLtoTHB1900.jpg|Pervian Sol to THB (S/.2=฿2/6/3½)

File:INDOCHINEPs.toBAHT1900.jpg|Indochinese Piastre to THB (Ps.1=฿3/4/1)