New Bt20 And Bt50 Coins Next Year

[george]

Higher value coins in circulation next year

BANGKOK: -- The Finance Ministry plans to churn out the Bt20 and Bt50 coins next year, to reduce the note printing cost.

Deputy Finance Minister Pruttichai Damrongrat said the decision will take into account the Fiscal Policy Office's study. He expected the coins to be popular due to changes in product prices and consumer behaviors.

-- The Nation 2009-12-16

[newsfooter][/newsfooter]

[gotlost]

Just what I don't need. I HATE COINAGE.

[bkkjames]

Just what I don't need. I HATE COINAGE.

Me too but I would prefer one 20 baht coin to two tens. Call me fussy.

[A_Traveller]

Images yet? The 2 baht coin was an interesting approach resulting in changing the colour after a short while in an attempt to more easily differentiate it.

Regards

[TAWP]

Hopefully they remove the 1baht coins then.

And I truly dislike having a lot of coins. Makes the wallet huge, heavy and I always end up 'losing' a lot of money by just tossing the coins out of the wallet onto tables or benches in the office or at home. And this will no doubt increase the tip given to waiters etc..

[Phil Conners]

Arrgh, I hate coins.

[Alwaysright]

Arrgh, I hate coins.

They still going to make the notes?Coins make holes in my pockets.

[Crossy]

Being from the UK we get used to having loads of coin change. With coins up to 2 Pounds (isn't there also a limited edition 5 pound coin too?) you can end up with significant sums in small change, some time ago I emptied my pockets of change and found I had approaching 20 Quid!.

My solution to the holes in pockets problem is identical to that used before paper money was invented, a change purse - simply a small bag with a drawstring. If you don't mind appearing cheap the headset bags given out by Thai are ideal, but I've been using a bag that used to contain a lens filter.

Not that I like having great lumps of metal in my pocket of course.

[sunsamourai]

Images yet? The 2 baht coin was an interesting approach resulting in changing the colour after a short while in an attempt to more easily differentiate it.

Regards

They should renew the fun : make the 20B coin the size, shape and color of the 5B one, and the 50B coin similar to the 10B coin . . .

Then change them again after a few months, they just don't have anything else to do . ..

[BSJ]

Is this the beginning of the end for the 25 Satang & 50 Satang coins? Not that I have any....or had any ever!

Edited December 16, 2009 by BSJ

[syd barrett]

Personally, I think a 20 baht coin is the step in the right direction.

Some of the 20 baht notes I handle these days are very old indeed, faded, smelly and probably riddled with bacteria and disease.

Supermarkets and 7-11 and Family Mart never give me 50 baht notes in my change, in fact I hardly see 50 baht notes these days.

Most of all, I would like to see the introduction of a 2,000 baht banknote, so ATM's could dispense 20 notes of higher value. (Most ATM's in Thailand seem to have a 20 note limit).

Thanks.

[A_Traveller]

^^ Often said, but supermarkets, for example, still use the .50 as a price level and seem to love tendering 2 *.25 satang in change.

On that note [pun intended] wonder if the introduction of a 20B coin would mean shops would go back to giving a 10B coin as opposed to 2*5B in change as they are apt to do these daya.

^ ATM limits are usually 25 notes in a single transaction.

Regards

Edited December 16, 2009 by A_Traveller

[Jingthing]

20 baht is OK. 50 baht is too big a value for a coin.

[Kan Win]

Thai Coins

Thailand 1971 - 50 Baht Obverse

Thailand 1971 - 50 Baht Reverse

Thailand 20 Baht 1995

Thailand 20 Baht 1999

Thailand 20 Baht 2001

Sawadee

P.S. Uncirculated

Edited December 16, 2009 by Kan Win

[A_Traveller]

^ Thanks, though these were the 20 Baht 'Ceremonial Issues' which IIRC are heavy cupro-nickel. I'd assume the tender versions would be lighter.

Regards

[angiud]

Please a Thb 2,000 note!

[MaiChai]

Sign of the times! Money is not worth what it used to be hence the conversion to coinage.

When I was a lad you could buy the whole villages votes for 20 baht....

[PeaceBlondie]

50 baht coin is too much for a coin.

[peter991]

I agree PeaceBlondie. While 50 baht is about $AUD1.80, it is about a quarter of a day's wages for some Thai people. It would be the same as me getting a $AUD50 coin.

For American readers, the AUD (Australian dollar) is aproaching partity with the $US (US dollar) - so read AUD as US dollar.

Peter

[mackayae]

Make the 20 B coin the same as the 2 euro coin. Remember the 10 B and 1 euro coins from a few years ago.

[Chang_paarp]

There are some significant currency reasons to take notes out of circulation. It frees up reserves.

It goes along the lines of ... The book value of a note is the face value, but the book value of a coin is the cost of manufacture.

I someone with more training than me in this can explain it better.

[A_Traveller]

^ Hm.. I was under the impression that M0 or for some countries M1 included coin and notes at face value, irrespective.

Regards

[hkt83100]

Remember the 10 B and 1 euro coins from a few years ago.

Sorry, I have to correct you, 10 Baht was working as 2 Euro in most vending machines, but before introduction of Euro 1 Baht was 50 Pfennig, a much better value.

[Asianrider]

I'm sure the bars / restaurants will enjoy giving the change in lots of 50 baht coins rather than notes, in the hope you leave it on the tray !

[wpcoe]

Please a Thb 2,000 note!

Actually, I'd settle for a THB5,000 and/or THB10,000 note. Having THB1,000 as the largest denomination seems odd.

And, as suggested above, get rid of the bloody 25/50 satang coin-lettes.

[A_Traveller]

^ But once you remove the 50 satang prices can only increase by 1 baht [same point goes for those asking for 1 THB cons to be removed]. That has an immediate effect on peoples purchasing power.

Regards

Edited December 16, 2009 by A_Traveller

[Chunkton]

^ But once you remove the 50 satang prices can only increase by 1 baht [same point goes for those asking for 1 THB cons to be removed]. That has an immediate effect on peoples purchasing power.

Regards

Not sure if delving into "higher complex" math here would be that productive.

[neverdie]

Just what I don't need. I HATE COINAGE.

Me too but I would prefer one 20 baht coin to two tens. Call me fussy.

Jimmy, this might just be you looking on the bright side of life....how bout a 20 baht note?

[neverdie]

Please a Thb 2,000 note!

Please a Thb 2,000 note!

Actually, I'd settle for a THB5,000 and/or THB10,000 note. Having THB1,000 as the largest denomination seems odd.

And, as suggested above, get rid of the bloody 25/50 satang coin-lettes.

Strangely enuf if these people are looking at reducing printing costs, I doubt very much they are going to introduce different donominations on the upper end.

I don't know what people are going to do when you produce 5000 or 2000 baht notes and ask for change, you get painful enuf looks when you try for 1000 baht of change......maybe im not shopping at the higher end of town like the rest of you folk.

[jayjayjayjay]

Please please please don't, unless someone comes up with a coinage wheelbarrow.