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<h1>The History of Thai Currency - from Ancient Beads to Modern Baht</h1>

The history of Thailand currency traces the evolution of the
medium of exchange used in Thailand prior to the 1st century. This
dates from the days of barter trade, ancient beads and money in
various shapes and sizes till the currency in modern times.

Ancient beads, seeds, bracelets and pebbles used as a medium
of exchange in the early days around 
200 &#8211; 300 BC, have been discovered in Thailand,
including old Roman copper coins dating back to 270 BC!
During the 1st &#8211; 7th centuries, 
metallic coins of the 
Funan Kingdom in Indochina made their appearance in
Thailand, followed by 
Dvaravati coins in the 7th &#8211; 11th centuries. This was
followed by a period in the history of Thai currency when money in
different shapes and sizes from various places were in use.

Sandal wood flower coins or Dok Jan coins from the 
Sri Vijaya Kingdom in SE Asia were introduced in trade in
the region in the 8th &#8211; 13th centuries. 
Cowrie shells and baked clay coins were also used from the 
pre- Sukhothai era until the reign of King Rama IV, when
they were dropped from circulation.
From the 14th &#8211; 19th centuries, 
coins from the 
Lanna Kingdom in the northern Thailand embossed with various
designs were also in circulation. Around the same period, 15th
&#8211; 19th centuries, 
Lanchang, the kingdom in northeastern Thailand introduced 
silver and copper pieces in long and narrow boat shapes.
In the history of Thai currency, the money that was most
enduring was 
Pot Duang or bullet money. This first appeared during the 
Sukhothai era, 13th &#8211; 14th centuries. Pot Duang money
were hand-made coins. Metal strips were bent and folded into
spheres very much like a bullet, thus the name, bullet money.
Bullet money was in circulation for 600 years from the Sukhothai
era to Rattanakosin until its withdrawal from circulation in 1904
during the reign of King Rama V.
The most profound changes in the history of Thai currency
occurred during the 
Rattankosin era in the reigns of King Rama IV and King Rama
V. Standardized factory 
minted coins and bank notes were officially issued.
During the reign of King Rama IV, when foreign trade and
diplomatic relations expanded, the paper money, in the form of
royal promissory notes, was issued in 1853. These were followed by
bank notes issued by the foreign to facilitate trade clearance.
In 1857, Queen Victoria of Britain presented Thailand with the
first minting machine and the minting of the first Thai silver
coins commenced. In 1858, a minting machine purchased from Britain
and the Royal Mint was set up in the Grand Palace and the minting
of coins went ahead full steam.
In the reign of King Rama IV, money was denominated in satang,
tho, phi, padueng and baht.
During the reign of King Rama V, or King Chulalongkorn, coinage
was streamlined. The numerous denominations were reduced to only
two, 
satang and baht, based on the metric system, which remain
till this day. Bank notes issued were in denominations of 1, 5, 10,
40,80, 100, 400 and 800 baht.
Today, the denominations have been streamlined to 25, 50 satang
coins, 1, 5, 10 baht coins and 20, 50, 100, 500, 1,000 baht
notes.
The history of Thai currency goes back more than 1,000 years,
evolving from ancient beads and bracelets to the modern baht that's
in current use.
The ancient beads, bullet money and old currencies can be viewed
at the 
<a target="_new" href="http://www.tour-bangkok-legacies.com/bank-of-thailand-museum.html">
Bank of Thailand Museum</a> in Bang Khun Phrom Palace within the
premises of the Central Bank of Thailand.

<div>Author Info 

<a target="_new" href="http://www.tour-bangkok-legacies.com/history-of-thai-currency.html">
The History of Thai currency</a> first appeared in 
<a target="_new" href="http://www.tour-bangkok-legacies.com/">Tour
Bangkok Legacies,</a> a travel website with a historical
perspective of renowned places preserved for posterity and the
legendary figures who left these legacies in the landscape of
Bangkok. The author, Eric Lim, is a freelance writer who lives in
Bangkok Thailand.
</div>

Article Source: <a href="http://www.innoarticles.com" title="Your #1 Source For Quality Articles">InnoArticles.com</a>
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