History of Thai money facts for kids

The history of Thai money shows how people in Thailand have traded and paid for things over time. Money wasn't just for buying and selling; it also showed what people believed in, their culture, and how Thailand grew as a country. It's like a special record of history!

Early Days of Thai Money

Long ago, before money existed, people in what is now Thailand traded goods directly. This was called bartering. For example, if you had extra rice, you might trade it for someone else's fish. But this was tricky because people often disagreed on what things were worth. So, they started using certain items that everyone agreed had value, making trading easier.

The land where Thailand is today was once called "Suvarnabhumi", meaning 'golden peninsula'. Many ancient kingdoms thrived here, like Funan, Dvaravati, Srivijaya, and Sukhothai Kingdom. Each kingdom used different kinds of money. A very special type of Thai money, called "pod duang" or 'bullet money', was round and made of silver. It started in Sukhothai and was used for about 600 years, even through the Ayutthaya, Thonburi, and early Rattanakosin periods!

Ancient Kingdoms and Their Money

Funan Kingdom (1st–6th centuries AD)

The Funan Kingdom was a big trading center. Its money was influenced by India, especially its religion. They used flat, round silver coins. One side showed a half-sun. The other side had a special design called Sriwatsa, which represented a god named Narayana. These coins also had symbols for good luck.

Dvaravati Kingdom (6th–11th centuries)

After Funan, the Dvaravati Kingdom became powerful. It was in the central Chao Phraya River basin. They also adopted ideas from India and Khmer culture. Dvaravati made many types of coins. Their designs showed symbols of the king, the state, and their Buddhist and Brahmin beliefs. Some coins had pictures of a conch shell, a rabbit, a goat, or a water jar. Others showed a Dharma wheel or a cow.

Srivijaya Kingdom (8th–13th centuries)

The Srivijaya Kingdom was known for its sea trade. It was located in the Malay Peninsula, a key stop for ships from Europe, India, and Vietnam. People here were mostly Buddhists. They used two main types of money: Dok Chan money and Namo money. Dok Chan money was flat, round, and made of silver or gold, with a four-petal flower design. Namo money was small, round, and made of silver mixed with antimony, showing an ancient Sanskrit letter.

Sukhothai Kingdom (13th–15th centuries)

The Sukhothai Kingdom was founded by brave kings who pushed out the Khmer rulers. King Ramkhamhaeng was a very important leader. He created the Thai alphabet and expanded the kingdom. Sukhothai was also famous for its high-quality ceramics called sangkalok, which were important exports.

The most famous money from Sukhothai was "pod duang" or 'bullet money'. It was round with pointed tips and a hole. Each piece had special marks, like a lion, elephant, conch, or lotus, showing where it came from. Sukhothai also used cheaper metals like tin and lead to make larger, bullet-shaped money for smaller purchases. Cowrie shells were also used as small change.

Ayutthaya Kingdom (1351–1767)

Ayutthaya became the capital in 1351. Its location, where four rivers met, made it a busy center for trade and government. Pod duang continued to be the main money, but it changed a bit. The coins became more compact. They had two marks: the chakra (kingdom mark) and a reign mark, which changed with each king.

Thonburi Kingdom (1767–1782)

After Ayutthaya fell to the Burmese, King Taksin bravely fought them off. He then moved the capital to Thonburi because it was easier to defend and good for trade. King Taksin continued to use pod duang money, similar to the Ayutthaya style. His pod duang had the chakra mark.

Rattanakosin Kingdom

After Thonburi, Bangkok became the new capital, starting the Rattanakosin Era. Money continued to evolve.

Reign of King Rama I to King Rama III

• King Rama I (Phra Phutthayotfa Chulalok the Great) used pod duang with the chakra mark and his own royal symbol. These coins came in different values like baht and salueng.
• King Rama II also used pod duang, but his reign mark was the Garuda, a mythical bird.
• King Rama III used pod duang with the Chakra-Prasat mark, representing his royal palace. Special pod duang were also made for important events.

Reign of King Rama IV

Money changed a lot during King Rama IV's time because of more trade with other countries. At first, pod duang was still used, with the chakra and the Mongkut (crown) mark.

However, it was hard to make enough pod duang, and many fake ones appeared. So, King Rama IV tried to issue paper money called "mai". But people didn't like it much.

In 1857, Queen Victoria sent a small coin-making machine as a gift. This was Thailand's first coin machine! Later, King Rama IV got a bigger, steam-powered machine and built the Sitthikarn Mint. This new machine made flat coins, which were used alongside pod duang until pod duang production stopped. King Rama IV also made special gold and silver coins to celebrate his 60th birthday.

Reign of King Rama V

King Rama V's reign brought many changes to Thailand's money system. In 1875, a new, more efficient mint was built. For the first time, silver coins had the king's portrait on one side and the national coat-of-arms on the other. This became the standard for future coins.

King Rama V also asked his brother, Prince Jayanta Mongkol, to simplify Thailand's money units to match international standards. Before, there were 13 different units, which made international trade difficult.

Even though pod duang production had stopped, King Rama V ordered some special pod duang with the Chakra Phra Kiew mark. These were made as keepsakes for royal ceremonies. Later, King Rama V ordered coins from the Paris Mint with his portrait and a three-headed white elephant. These coins were called Rien Nuad or "moustache coins".

Reigns of King Rama VI to VIII

During these reigns, Thailand faced economic challenges due to world wars.

• King Rama VI continued to use coins from Rama V's reign. He also ordered the first baht coins with his own portrait and the three-headed white elephant. He also set up the Thai Banknotes Department in 1902, and the first banknotes were printed in England. These notes had both Arabic and Thai numbers.
• Series 2 banknotes (1925) were the first to say, "Promise to pay bearer on demand in currency of Siam." Later, this changed to, "This note is legal tender according to law."
• Series 3 banknotes (1934) were the first to feature the king's portrait on the front.
• Series 4 banknotes (1938) changed from "Government of Siam" to "Government of Thailand" in 1940, reflecting the country's new name.
• During World War II, due to banknote shortages, special banknotes were printed by the Royal Thai Survey Department and in Japan.

Reign of King Rama IX

• In 1945, after the war, the US helped Thailand print its Series 8 banknotes. These notes featured King Rama VIII as a young man and the Phra Pathom Chedi temple.
• Series 9 banknotes (printed by De La Rue) brought back the familiar colors for each denomination.
• Series 10 was just a 100 baht note, made to fight counterfeiting.
• Series 11 (starting 1969) saw new 5, 10, 20, and 100 baht notes. In 1975, Thailand started printing its own banknotes!

King Bhumibol Adulyadej (Rama IX) ruled for a very long time. During his reign, Thailand's economy grew fast, and money continued to improve in design and materials to meet international standards.

• In 1950, the first modern circulation coins were made with King Bhumibol's portrait.
• In 1986, new coins were introduced, including 10 baht coins. By 2005, there were 9 different coin denominations.
• The first commemorative coin was made in 1961 to celebrate the king and queen's return from state visits abroad. It was the first coin to feature a female royal family member.
• Banknote Series 12 (starting 1978) honored great monarchs. The 10 baht banknote was eventually replaced by a 10 baht coin in 1995.
• In 1982, special "proof coins" were made for the bicentenary of Bangkok. Later, proof coins were released to the public for Queen Sirikit's 50th birthday.
• Banknote Series 13 (1985) celebrated the Rattanakosin Bicentennial.
• Series 14 banknotes (1992) brought back the 1000 baht note due to Thailand's growing economy.

21st Century Money

In the 21st century, Thailand focused on making money harder to counterfeit and celebrating its kings.

• Series 15 banknotes (starting 1997) included new designs and anti-counterfeiting features. A polymer 50 baht note was tried but later replaced by paper notes.
• In 2006, the Treasury Department issued colored coins for the first time to celebrate the king's 60th year on the throne.
• Series 16 banknotes (2012-2013) honored Thai kings from different periods, like King Naresuan, King Ramkhamhaeng, King Rama I, and King Taksin.
• Series 17 banknotes honored King Maha Vajiralongkorn Bodindradebayavarangkun.

Thai money and coins are truly national treasures. They tell the story of Thailand's past, its culture, and its economic journey through the ages.

Historical Buying Power

The value of the Thai baht has changed a lot over time. For example, a bowl of noodles that cost about 1 att (a very small coin) during King Rama V's reign, cost about 1 satang (a bit more) during King Rama VI's time. Today, that same bowl of noodles costs much more, showing how the baht has changed in value.

This means that what "1 baht" could buy in the past is very different from what it can buy today. For instance, a 1 baht banknote in the early 1900s had a buying power similar to a 1000 baht banknote today! This shows how much prices have gone up over the years.