Is it time to take the Satang out of circulation?

[Asquith Production]

Recently I have noticed some supermarkets are not bothering with the 25 and 50 satang coins if paying by cash. If I have loose change and do not have the satang they are not bothered and roll the total bill down. If I give them an extra 1 baht they do not give any satang back in change. It is such a small amount surely it would be better for the government to take them out of circulation.

[SAFETY FIRST]

9 minutes ago, Asquith Production said:

Is  it time to take the Satang out of circulation? 

Should have been taken out 20 years ago. 

 

[xtrnuno41]

Yes, it will cost more to produce them, then they value.

EU also started with 1 and 2 cents pieces, but very soon after that, they disappeared.

Said, as costing too much to make, due to value.

[retarius]

Can you even spend satang? I have been refused passing them in Tesco and 7/11 as change for fractions of a baht....but they insisted on giving me fractions of a baht as change. Go figure.

[scubascuba3]

If the bill will include Satang change i usually pay by scan or just leave the satang at the checkout, annoying things

[HappyExpat57]

Milk recently went up to 99.75.

 

C'mon already, even it up to 100. Won't help or hurt sales, it will just make life easier for all.

 

Down with the satang!

[topt]

3 hours ago, Asquith Production said:

Recently I have noticed some supermarkets are not bothering with the 25 and 50 satang coins if paying by cash.

Seems to happen when they are short of those particular coins. I have not personally noticed it recently in either 7/11s or Big C but have in the past.

 

 

[Moonlover]

I only glance at small change anyway, so I wouldn't know whether there's a satang or two missing, or even a baht. More and more now though I'm going cashless anyway, so for me it's academic.

[newbee2022]

20 hours ago, Asquith Production said:

Recently I have noticed some supermarkets are not bothering with the 25 and 50 satang coins if paying by cash. If I have loose change and do not have the satang they are not bothered and roll the total bill down. If I give them an extra 1 baht they do not give any satang back in change. It is such a small amount surely it would be better for the government to take them out of circulation.

Why? The stock market or currency market still use Satang. Same as cents 🙏

[Skeptic7]

20 years past time. 

[CecilM]

Just like the pennies in North America. Useless, but if they're removed from circulation then inflation will go up. (As I had read somewhere.) So it's monetary policy to keep small useless coins in circulation. 

[Captain Monday]

I have a small bowl of them would be embarrassed to give this “Chump change” to a beggar. 

[Nick Carter icp]

2 minutes ago, Captain Monday said:

I have a small bowl of them would be embarrassed to give this “Chump change” to a beggar. 

 

   Don't to that . 

The beggar would likely throw them back at you 

[Bundooman]

I have a glass jar full of them. I'm not sure if the banks take them.

Possibly about 200-300 hundred coins collected over the years.

I doubt the amount would be more  than 200Baht.

If the banks took them, I would happily give them to one of the market blind Thai musicians. 

I'd rather they have them than just throw them away.

[new2here]

I would agree that it’s long over due… but… given that there are some consumer prices that are around the sub 15 baht level, that makes it somewhat hard if there’s a discount of say 10% … but in totality, I think the overall monetary and banking system would be better served without them.. or at minimum, take the 25 satang out and leave the 50.. at least then there’s some relief for small change purchases 

 

where I think the BoT got it right was moving to a polymer based B20 note as the lifespan far far exceeds traditional paper-based notes despite the initial higher print costs. I’d wonder if perhaps the B50 could be phased out and keep it as 20,100,500,1000 only 

[Yellowtail]

So, every time you pay, it will round up, and every time you collect it will round down. 

 

No thanks.

[scottiejohn]

25 minutes ago, Yellowtail said:

So, every time you pay, it will round up, and every time you collect it will round down. 

 

No thanks.

Cheapskate!

Just over 1P!

 

PS'  Note that the above is from a Scotsman!

[Yellowtail]

1 minute ago, scottiejohn said:

Cheapskate!

Just over 1P!

On every, single, monetary, transaction. 

 

 

[scottiejohn]

2 minutes ago, Yellowtail said:

On every, single, monetary, transaction. 

 

 

How many transactions involving satangs do you do per day?

I always leave the satang with the cashier!

[scottiejohn]

39 minutes ago, Bundooman said:

I have a glass jar full of them. I'm not sure if the banks take them.

Possibly about 200-300 hundred coins collected over the years.

I doubt the amount would be more  than 200Baht.

If the banks took them, I would happily give them to one of the market blind Thai musicians. 

I'd rather they have them than just throw them away.

Even if you had 300x50 satang coins (largest coin) the max value could only be 150Baht

[Muhendis]

With Visa free trips to the EU Schengen countries coming up we may soon find ourselves handling Euros instead of Baht and satan Satang..........

[john donson]

On 5/12/2024 at 4:14 PM, Asquith Production said:

Recently I have noticed some supermarkets are not bothering with the 25 and 50 satang coins if paying by cash. If I have loose change and do not have the satang they are not bothered and roll the total bill down. If I give them an extra 1 baht they do not give any satang back in change. It is such a small amount surely it would be better for the government to take them out of circulation.

 

7/11 tries that all the time

 

I want my 50 satang and will ask for it

 

same with tops,  a label of discount items says 25 baht and 28 baht on self check-out, i go with that item to a cashier and I pay 25 baht, even they have to go get someone to type it in manually...

 

if they do this hundreds or thousands times a day x 365 ...

 

 

[mrwebb8825]

No Economics Majors in here I see.

No, it makes no "cents" for the mom and pop shops as they would only earn around 500THB a year (assuming a 2000+ item turn around) but for the mass volume dealers like Tesco, BigC, etc. it generates millions in yearly revenue with no additional cash outlay.

It's the way of the future - there's also "Shrinkflation" in which your 5oz item for 5THB is now packaged at 4.5oz for 6THB.

[digbeth]

8 minutes ago, mrwebb8825 said:

No Economics Majors in here I see.

No, it makes no "cents" for the mom and pop shops as they would only earn around 500THB a year (assuming a 2000+ item turn around) but for the mass volume dealers like Tesco, BigC, etc. it generates millions in yearly revenue with no additional cash outlay.

It's the way of the future - there's also "Shrinkflation" in which your 5oz item for 5THB is now packaged at 4.5oz for 6THB.

 

They even had to make the 'new' 2 Baht coin very recently otherwise price of things would go up by 5 or 10 Baht and that's to much

[Robert Paulson]

I just bring them to big c with me and attempt to rid myself of as many as I can depending on the bill

[Robert Paulson]

On 5/13/2024 at 2:58 PM, Bundooman said:

I have a glass jar full of them. I'm not sure if the banks take them.

Possibly about 200-300 hundred coins collected over the years.

I doubt the amount would be more  than 200Baht.

If the banks took them, I would happily give them to one of the market blind Thai musicians. 

I'd rather they have them than just throw them away.

Order something on lazada and use them cod give to driver

 

big c takes them for sure. You could go in there and buy some of that nice orange soap or something

[VocalNeal]

The yellower ones are non-ferrous so can be soldered. FYI

[Yellowtail]

10 minutes ago, VocalNeal said:

The yellower ones are non-ferrous so can be soldered. FYI

They can all be soldered.