History of Thai money

The evolution of money in Thailand used as a medium of exchange and to make payment before the adoption of Thai Baht coins and banknotes currently in use, included designs and forms which have been found over various period of time. For Thai people, money was considered as the symbol of civilization. Money itself, reflected belief, faith in religion, culture, customs and traditions of each era and also act as a significant record in the development and history of Thailand.

The land which is now Thailand was once inhabited by various pre-historic communities. Therefore, these groups of people left a heritage of social culture and ceremonies.

In the ancient days of Thai society, before money was created to serve as a medium of exchange, humans traded goods by bartering for products of similar value. However, many products differed in quality, and buyers and sellers differed in their assessments of value and in their requirements. To facilitate product sales, several mutually-agreed commodities came into use as mediums for exchange.

The Indo-China Peninsula or “Suvarnabhumi” which means “Golden Peninsula” was the geographical area on which Thailand is presently situated. These ancient kingdoms were a prosperous homeland for a variety of diverse races and tribes. They were the regions that were later on known as the Funan Kingdom, Dvaravati Kingdom, Srivijaya Kingdom and Sukhothai Kingdom. They used money as a “medium of exchange” which evolved into different forms of money. Thai money has the unique characteristics of the Thai nation with the Sukhothai Kingdom, using round shaped money made from silver which was known as Pod Duang, and has been continued from that time down to the Ayudhya, Thonburi and the early Rattanakosin periods.

Funan was the most important region of Indo–China and became highly successful in trade during the 1st through 6th centuries. The Funan Kingdom was influenced by India, through trading and religion. The coinage used during that period bears marks symbolizing the monarchy and the religion, these were mostly flat and round coins made from silver. These coins display, on one side, a half sun spreading rays between two rows of fish eggs. The opposite side carries, in a central position, the Sriwatsa design that represents Phra Narai in accordance with the Brahmin religion, with Bandoh, a small Brahmin ceremonial drum, in one corner; and the Swastika, a symbol that represents good-luck, in the other. At the top of each coin the sign of the sun and the moon appear.

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