New Bt20 And Bt50 Coins Next Year

[snowflake]

In Bangkok or larger cities you might get change for a 2000B note, but how many of the smaller towns would have that much money in one go?

Salaries for lower classes are from 4000B a month, two notes? Sorry but they are just too large...

I agree that there should be larger notes for larger transactions but not for normal usage. It would be too much...

20B and 50B coins would be nice to have... for waiters/ service staff... Think about the large amount of tips that would be misplaced?

I often just yank the notes away and leave the coins, now, I have to take a long look to make sure I don't give a few hundred B in tips... (if they come out)...

[raro]

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.

5 Pfennig

I don't mind for the coins, but higher denominations of bills would be great. 5,000 or even 10,000 Baht is absolutely in order.

[Johpa]

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.

I daresay the world is a dangerous place. But may I suggest that Thailand is perhaps not for you. Do not, I repeat, do not step outside the tourist/neo-sahib bubble as the countryside tends to be older, more faded, more smelly, and infected with far more bacteria than you could possible tolerate.

[moskito]

Arrgh, I hate coins.

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

wonder where all the 10.-Baht bills are gone

I think its a good idea,

....and to the people with always too much 1+5 baht coins in the pocket. What happend with tipping the waiters next time? sounds kiniau

Edited December 16, 2009 by moskito

[cmdream]

When did making coins become cheaper than printing paper? Just another way to screw the tourist. Coins are believed to be small change in western countries.

[allexx]

60 Baht note.

[tw25rw]

I think it's a good thing, as would be a 2000b note. If one gets into the habit of spending small denominations instead of frequently visiting the ATM and accumulating the change from notes, there's no reason for the coins to weigh heavy.

Another option might have been plastic notes as these last longer and better survive frequent handling and are songkran proof.

[A_Traveller]

^ There were/are 50 baht notes in plastic, which proved to be less 'Thailand Resistant' than the traditional paper.

Regards

[12DrinkMore]

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

Seems to have diverged again as the USD appreciated and the AUD lost a bit as the outlook for interest rates increases has declined. But I am optimistic on the AUD.

Back on topic, any sign that paper is being replaced by coinage is bad news. This means inflation is manifesting itself. Although I am sure that bar girls, mia nois and gicks would be very happy to see the arrival of notes denominated higher than 1,000 Baht, we should be very cautious in asking for their introduction,

[lung]

2000 , 5000 on paper...

[moskito]

I think it's a good thing, as would be a 2000b note. If one gets into the habit of spending small denominations instead of frequently visiting the ATM and accumulating the change from notes, there's no reason for the coins to weigh heavy.

Another option might have been plastic notes as these last longer and better survive frequent handling and are songkran proof.

Sorry but it sounds like Farang. Up North in Isaan or away from Chiang Mai its hard to change a 500 or 1000.-Baht bill.

And the plastic money we had, the 50.-Baht note was terrible.

[PeaceBlondie]

Maybe 5,000 baht for large purchases. You'd know better than to try to get change for a 5,000 baht note at 7-11. But if you've had a house built and paid for it in installments of 65,000....

[Naam]

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

yeah right! and increase cost by a multiple minting coins

[dantilley]

wonder where all the 10.-Baht bills are gone

I still get the occasional 10 Baht note, which goes to show they're still legal tender, so the 20 and 50 Baht notes will be around for some time to come after they introduce these coins.

I agree that a 2,000 Baht note would be useful, but a 5,000 Baht note is unecessary. That would be almost £100 - double the highest note you get in the UK. Imagine if you lost a 5K Baht note?

But if you've had a house built and paid for it in installments of 65,000

Yes, but who in their right mind would pay those installments in cash anyway?!

Edited December 17, 2009 by dantilley

[neverdie]

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

yeah right! and increase cost by a multiple minting coins

Yes Naam, but you are only looking at the short term. it is fact that coins last longer than notes, therefore whilst there will be an initial cost in setting this up, once the notes are replaced there will be a much reduced need to make new coins (as opposed to the constant printing of notes).

[mdechgan]

They should just phase out the 25 and 50 satang coins.

No one uses them, most shops even just round up or round down to a baht.

They should make a 30 baht coin instead of a 50. Most noodle shops sell their noodles 30 baht now.

A 50 baht coin will only lead to more coins as change. I don't see a problem with a 50 baht bill which still needs mmore circulation. I don't see a problem with wear on the 50s either since they have much more plastic content unlike the 20s and 100s bills.

Edited December 17, 2009 by mdechgan

[alantheembalmer]

I sincerely hope that they keep the 20 baht note. On the reverse side there is a picture of Rama VIII bridge, and you can see the building in which I live. This has been a great way of getting Bangkok cabbies to my residence. Besides, not many people can say that there is a picture of their home on a banknote!

[wpcoe]

^ 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.

By golly, you're right. Let's re-introduce 1 satang coins!

Seriously, though, rounding prices up/down to the nearest baht wouldn't occur that often, would it? The only place I notice it is in the supermarket where some things are priced in fractions of baht. Would the elimination of satang coins affect the local Thais more than a farang? e.g. Do the country markets or local mom/pop stores where I don't shop often price things in satang?

[neverdie]

I sincerely hope that they keep the 20 baht note. On the reverse side there is a picture of Rama VIII bridge, and you can see the building in which I live. This has been a great way of getting Bangkok cabbies to my residence. Besides, not many people can say that there is a picture of their home on a banknote!

Funny post. I can just see you perched up in the back of the taxi pointing at the picture on the 20 baht note and the taxi driver thinking to himself, "I hope you've got more than that Mr"

[p_brownstone]

A main reason for replacing paper Notes with Coins is simply that the coins last far longer.

Paper gets torn quite easily and Notes have to be withdrawn from circulation and replacements printed.

(and how many of us have had a Vendor refuse to accept a torn Note?)

Of course it also indicates that prices are increasing since the 20 and 50 Baht Notes are being handled more frequently.

I recall a few years ago Thailand introduced a "plastic" Baht 50 Note but it was not popular - difficult to fold for example - and I think it has now been withdrawn, certainly I have not seen one for ages.

Patrick

[dantilley]

(and how many of us have had a Vendor refuse to accept a torn Note?)

It's never happened to me nor anyone else I know - I think that's because, generally speaking, Thai bank notes that people receive are in pretty good condition. Try going to India where notes are left to get in awful states, often illegible and falling apart. Someone tole me he once received an Indian banknote which was given to him in small pieces chucked in a plastic bag! I think the banks are a bit quicker to withdraw a fading note here.

[Reasonableman]

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.

I'm sure all these opinions will have zero influence on the outcome, so why stress yourselves over it? Holes in pockets, coin purses, etc etc, Oh please, get a life...

[Bagwan]

If the 25 and 50 satang coins are removed from circulation I will then be the proud owner of a redundant moneybox. If the 1 baht coin is scrapped then 'she who does the ironing' is in the same boat. Perhaps she will switch to collecting 5 baht coins, the vast majority of them, as with the 1 baht, being mine!

I hope that in the design of any new coins the requirements of blind persons is taken into account. Given the non-acceptance of physically handicapped people in polite Thai society (remember the lawyer who could not plead in court or become a judge, can't remember which, because of some infirmity?) I harbour doubts. Of course being brain dead is not considered an affliction.

[soundman]

This will lead to an un-expected windfall for pubs/bars in tourist areas where they quite often give you a tray full of coins for change clearly anticipating it as a tip because most people can't be bothered carrying the loose change around.

......................

From my perspective, I will need a trolley to go to the bank everyday. My business receives about 30k - 40k of twenty baht notes per day, that translated into coins would probably be in the region of 20 - 30 kg's.

[PoorSucker]

The ladies are going to play pook-daeng with 20 baht now.

[ballpoint]

Like many of the posters on this thread, I too am completely mystified as to why the Thai government continues to ignore the wishes of the members of TV when formulating its monetry policy, and instead panders to the needs of the majority of the country's rural poor. I consider anything under 1000 baht to be small change, and demand the government scrap all denominations lower than this, while introducing 2000, 5000, 10,000, 20,000, 50,000 and 100,000 baht coins. Why should Vietnam have more zeroes on its currency than Thailand? When will this imbalance be addressed? Just because a child is able to take a 50 sataeng coin along to our village shop and purchase a small lolly is no reason to continue keeping these coins. The overloaded pockets of expat whingers should weigh far more, pun intended, in the decision as to keep or discard them. Just because I can purchase a bowl of noodles for 10 baht has no relevance; because someone pays 30 baht in Bangkok, that should be the minimum size coinage necessary. It wasn't that long ago when 500 baht was the biggest note. The 1000 baht note was intoduced in the early 1990's, (I can't remember the exact year, but it caused a stir). In many parts of the country it is still far too large for daily business. Having only a 1000 baht note in your wallet in many areas is tantamount to having no money at all, for all the good it will do you trying to buy a plate of food. Maybe what is needed is a two tier currency system, one for expats and one for Thais. Expats could sit in their ghetto's, flashing their 5000 baht notes about while the upcountry Thais could continue making ends meet with their 50 sataengs and 1, 2, 5 and 10 baht coins. Bring on the dual pricing moaners.

[TAWP]

Like many of the posters on this thread, I too am completely mystified as to why the Thai government continues to ignore the wishes of the members of TV when formulating its monetry policy, and instead panders to the needs of the majority of the country's rural poor. I consider anything under 1000 baht to be small change, and demand the government scrap all denominations lower than this, while introducing 2000, 5000, 10,000, 20,000, 50,000 and 100,000 baht coins. Why should Vietnam have more zeroes on its currency than Thailand? When will this imbalance be addressed? Just because a child is able to take a 50 sataeng coin along to our village shop and purchase a small lolly is no reason to continue keeping these coins. The overloaded pockets of expat whingers should weigh far more, pun intended, in the decision as to keep or discard them. Just because I can purchase a bowl of noodles for 10 baht has no relevance; because someone pays 30 baht in Bangkok, that should be the minimum size coinage necessary. It wasn't that long ago when 500 baht was the biggest note. The 1000 baht note was intoduced in the early 1990's, (I can't remember the exact year, but it caused a stir). In many parts of the country it is still far too large for daily business. Having only a 1000 baht note in your wallet in many areas is tantamount to having no money at all, for all the good it will do you trying to buy a plate of food. Maybe what is needed is a two tier currency system, one for expats and one for Thais. Expats could sit in their ghetto's, flashing their 5000 baht notes about while the upcountry Thais could continue making ends meet with their 50 sataengs and 1, 2, 5 and 10 baht coins. Bring on the dual pricing moaners.

This is the kinda moaning you get when you eat your 10 baht noodles and feel miserable...

Most suggestions in this thread has been reasonable unlike your rant about your perception of what was written.

Edited December 17, 2009 by TAWP

[ballpoint]

This is the kinda moaning you get when you eat your 10 baht noodles and feel miserable...

Most suggestions in this thread has been reasonable unlike your rant about your perception of what was written.

Some suggestions in this thread have been reasonable, but, given that it's supposedly about the introduction of 20 and 50 baht coins, there seem to be quite a few posts turning it into a complaint about lower denomination coins, and the introduction of higher denomination banknotes. My "rant" was mainly about the former, but partly the latter, hence I used "many of the posters..." in my opening sentence, not "all of the posters..." or "most of the posters...". Please tell me what is reasonable about wanting to do away with the smaller coins simply because you can't be bothered carrying them about, despite the fact that many Thais use them in their daily business? Wouldn't it be more reasonable to leave these coins behind at the checkout, or place them in the orphans donation box found at many supermarkets, rather than make people pay more for their daily needs? It may be only a few baht to you, but it's a bigger deal for the poor. The last poverty line I've seen published for Thailand is 1242 baht per month (from 2005). That's 41.4 baht per day for a 30 day month. For the large number of people living at, or below, this line, every sataeng is vital. Contrary to popular opinion here, Thailand does not end at the outskirts of Bangkok, Pattaya, Phuket or Chiang Mai. Maybe you're willing to pay inflated prices for the illusion of a better meal, but that doesn't mean these people are, or indeed could even if they wanted to. But no, these coins are spoiling the line of my 2000 baht Levis, they've got to go.

The snobbery shown in your implication that the more expensive the noodles are, the better they must be has also been noted. Do you work in the fashion industry?

[PoorSucker]

[IMA_FARANG]

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.

No. not at all. The value of either a coin or a note has long ago ceased to be being backed by anything of value...i.e gold or silver.

In fact in most countries the actual value of either a note or a coin is based upon the percieved ability of the government to either pay or recognise the currency as having a value that can "buy" something useful.

Niether a piece of paper or a coin has any value based on how it's made. Except for collectors, and that's a different matter.

It's just that a piece of paper..a 20 baht note...wears out much faster than a 20 baht coin would. Therefore the piece of paper...the 20 baht note... has to be replaced more often...which costs the government more to print.

The 20 baht coins should last longer...so the costs to replace them should be lower.

Same for the 50 baht coins versus 50 baht notes.