Shop offers 100,000 Baht for rare 10 Baht coin

[webfact]

Shop Offers 100,000 Baht For Rare 10 Baht Coin
By Khaosod Englisj


A rare ten baht coin minted in 1990.


A ten baht coin minted in 1994 and filed to look like it was issued in 1990.

RAYONG — An antique shop in Rayong province has ignited a craze on social media by offering 100,000 baht in cash for a rare circulation of ten baht coins.

Panan Jewelry Shop posted on its Facebook account last week that it is willing to pay 100,000 baht for the rare ten coins that were minted in 1990. According to the post, millions of ten baht coins are minted each year, but only 100 ten baht coins were produced in 1990.

The post has gone viral on social media, launching a hunt for the rare coins, with others questioning whether the offer is a hoax.

Punnawat Siriruengwanich, the owner of Panan Jewelry Shop, confirmed that the advertisement is genuine.

Speaking at his shop in Rayong's Pluak Daeng district yesterday, Mr. Punnawat said the coins were minted for a 1990 rare coin exhibition in Canada, meaning that the coins have never been in public circulation.

"Only 50 coins made it back to Thailand," Mr. Punnawat said. "So it's a very rare coin and a great interest for coin collectors. Only five of these coins have been found, as far as I know."

Mr. Punnawat, who says he has never personally seen the coins, decided to post the Facebook advertisement after a businessman hired him to find them.

Since he posted the ad, so many people have called his shop that he decided to remove the shop's telephone number from the post, Mr. Punnawat said.

"I did not expect that it would be such a massive trend," Mr. Punnawat said. "My phone almost burned down."

He also warned that there have been attempts to alter ten baht coins issued in 1994 to look like they were issued in 1990 by filing the "tail" of the number 4 in Thai numerical.

Wirawuth Sripaoya, deputy director of the Royal Thai Mint, refused to comment on the claims that only 100 ten baht coins were made in 1990."

It's a public holiday right now, so I cannot check our database," Mr. Wirawuth said."But in terms of theory, minting only 100 coins is highly improbable. On average, the Royal Thai Mint produces 1 million coins of each type."

However, Thai Medal Association Nirandorn Wisitsin confirmed to Khaosod that the claim is authentic, as has long been known among veteran Thai coin collectors.

Mr. Nirandorn said the price tag for the 1990's ten baht coins may sound outrageous to non-collectors, but it is completely normal in the antique trade.

Source: http://en.khaosod.co.th/detail.php?newsid=1407649713&section=14


-- Khaosod English 2014-08-11

[webfact]

RARE COINS
Treasury Dept challenges claim only 100 Bt10 coins minted in 1990
The Nation



BANGKOK: -- The Treasury Department has denied a claim that just 100 Bt10 coins were minted in 1990.

The department's director general, Naris Chaiyasoot, spoke yesterday shortly after there was a Bt100,000 offer for a Bt10 coin minted in 1990 - a move that attracted much media attention.

The offer came from Punnapat Sririrueangwanich, a trader of rare coins and bank-notes.

"I've known that just 100 coins of Bt10 were minted in 1990 for an exhibition at a Canadian mint. Most of the coins were also handed out as gifts and just 30 returned to Thailand," the 27-year-old said.

But Naris insisted that Thailand bought 50 million Bt10 coins from a US-based firm in 1990. He said the department would investigate to determine if the coins were used in an exhibition that year.

"After the long weekend, I will ask relevant officials to check," he said.

According to the department's deputy director general Werawut Sripaoraya, only commemorative coins are produced in a small number.

Source: http://www.nationmultimedia.com/national/Treasury-Dept-challenges-claim-only-100-Bt10-coins-30240684.html


-- The Nation 2014-08-11

[pkspeaker]

lol saved a picture of it in case i ever come across one in change.

[Changoverandout]

OK, how many of you just checked your change? :-)I

I did too.

[techboy]

Do not let the rare coin bug bite you. Do not!

[bristolgeoff]

everyone will be checking they change now,wonder if he will have to pay out for one

[Chao Lao Beach]

Just imagine the staff at the BTS now, checking every coin.

[GuyL]

He also warned that there have been attempts to alter ten baht coins issued in 1994 to look like they were issued in 1990 by filing the "tail" of the number 4 in Thai numerical.

Actually, it's by filling the tail of the number 7. In the Thai numerical system, the number 3 is "๓" and the number 7 is "๗", and (Christian Era) year 1990 is actually B.E. (Buddhist Era) year 2533 (๒๕๓๓).

[biplanebluey]

He also warned that there have been attempts to alter ten baht coins issued in 1994 to look like they were issued in 1990 by filing the "tail" of the number 4 in Thai numerical.

Actually, it's by filling the tail of the number 7. In the Thai numerical system, the number 3 is "๓" and the number 7 is "๗", and (Christian Era) year 1990 is actually B.E. (Buddhist Era) year 2533 (๒๕๓๓).

lost me a bit here.They were trying to make a coin look like it was minted in 1990 by altering the last "0",but according to you if you get a 1997 coin and file the tail off you get a 1993 . Sorry but what good is that??????????????

[dddave]

A friend of mine used to have a fair collection of semi-rare coins; worth 50 to 100 times face value. He went to check them one day and they were gone...turned out his 6 year old son had found them and spent them at the candy store.

You just never know when a coin will end up back in circulation.

[media]

Its a bit difficult if you cant read Thai

[12DrinkMore]

Its a bit difficult if you cant read Thai

But not for all those on the ed-visa, eh?

[12DrinkMore]

He also warned that there have been attempts to alter ten baht coins issued in 1994 to look like they were issued in 1990 by filing the "tail" of the number 4 in Thai numerical.

Actually, it's by filling the tail of the number 7. In the Thai numerical system, the number 3 is "๓" and the number 7 is "๗", and (Christian Era) year 1990 is actually B.E. (Buddhist Era) year 2533 (๒๕๓๓).

lost me a bit here.They were trying to make a coin look like it was minted in 1990 by altering the last "0",but according to you if you get a 1997 coin and file the tail off you get a 1993 . Sorry but what good is that??????????????

The years are in the Thai script.

1990 = 2533

1994 = 2537

So by filing the "tail" off the Thai "7" you get a Thai "3".

[Suradit69]

Do not let the rare coin bug bite you. Do not!

And if you show a coin sold at auction like the ones pictured below to some Thai friends, they'll swear their uncle in Khon Kaen or whoever has that same coin and soon after you'll be presented with a host of corroded coins, none of which bear any resemblance to the ones pictured

1864 Rama IV "60th Birthday - Teo Meng Thong Pao", silver coin 4 Ticals (Y#A12), the only early coin with Chinese inscription, extremly popular & key item for early Thai coins, one light tiny nick at rim at 7 o' clock, key item for any advance colletors, rare. VF.(1)

2407 เหรียญเงินรัชกาลที่ 4 "60 พรรษา - แต้เม้งทงป้อ" ชนิดราคา 4บาท เป็นเหรียญเงินกษาปณ์ไทยสมัยเก่าเหรียญเดียวที่มีภาษาจีนอยู่บนเหรียญ เป็นเหรียญที่มีความนิยมสูงและเป็นหนึ่งในตัวติดของเหรียญยุคต้น ขอบเหรียญมีรอยยุบของโลหะ ที่ 7 นาฬิกา บางๆน้อยมาก นอกนั้นสภาพสวยมาก หายากมากๆ VF.(1)

Auction Result for LOT NO:549: Sold at THB 350000

Or

Rama IV 2 Baht ND (1863), KM-Y12, MS66 NGC, an astounding example of this large silver type with sharply struck details, full mint brilliance and spectacular old-time patina. Extremely rare in this quality and certainly among the finest known. A true numismatic treasure!

Sold for: $22,325.00 (includes BP )

[Sayonarax]

Did anyone elses partner go rummaging through your coin box checking the 10 baht coins you'd been saving?

"What are you doing?"
'Somebody find 10B coin worth 100,000 baht'

[seabass69]

I'm sure I've got a couple of those somewhere....but it's a public holiday, so I'll check later.

[GuyL]

He also warned that there have been attempts to alter ten baht coins issued in 1994 to look like they were issued in 1990 by filing the "tail" of the number 4 in Thai numerical.

Actually, it's by filling the tail of the number 7. In the Thai numerical system, the number 3 is "๓" and the number 7 is "๗", and (Christian Era) year 1990 is actually B.E. (Buddhist Era) year 2533 (๒๕๓๓).

lost me a bit here.They were trying to make a coin look like it was minted in 1990 by altering the last "0",but according to you if you get a 1997 coin and file the tail off you get a 1993 . Sorry but what good is that??????????????

12DrinkMore's answer is correct: http://www.thaivisa.com/forum/topic/750588-shop-offers-100000-baht-for-rare-10-baht-coin/#entry8227700

C.E. 1990 = B.E. 2533 (๒๕๓๓)

C.E. 1994 = B.E. 2537 (๒๕๓๗)

[Suradit69]

Wirawuth Sripaoya, deputy director of the Royal Thai Mint, refused to comment on the claims that only 100 ten baht coins were made in 1990."

There is a reference to mintage of the ten baht commemorative coins with a link to the Treasurer e-catalogue, but the link is no good.

• 1988 ~ 60,200
• 1989 ~ 100,000,000
• 1990 ~ 100
• 1991 ~ 1,380,650
• 1992 ~ 13,805,000
• etc.

There are several references to the 10 baht commemorative coins being used in Europe in older vending machines.

Vending machines that are not equipped with an up-to-date coin-checking system might accept them as €2 coins.

[Strangebrew]

5 baht coins work in vending machines in US

[Strangebrew]

Got 2.5 gold piece US mint sell it for 10,000 USD any takers?

[Strangebrew]

Who is the mudhut with coin in hand tell him to wash his hands

[duanebigsby]

Makes me curious if the exhibit inspired Canada to use a gold centre for their toonie.

[tomyumchai]

i have a rare 10 baht coin in my kitchen cupboard. my g/f snatched it off me 1 day ranting on about it being 'velly lare coin'. sadly she found 1000 baht notes more interesting and sloped off with a n other guy..........oh hum.

......ill have to dig it out to see if its worth some of those 1000 baht notes that other guy had

[smotherb]

Got 2.5 gold piece US mint sell it for 10,000 USD any takers?

Years ago, a buddy of mine bought ten $20 double-eagle US gold coins in Iran. He was devastated when he found out they were counterfeit. I bought them from him for a fraction of what he paid; they were 90% gold, 10% copper--just like the real thing.

[noendtoit]

Sounds to me like a scam by the coin shop operator to get some free advertising. He just got more free press that he could have purchased for one million baht.

[iancnx]

100,000 Less than £2000. Not to be sniffed at but I should have though grossly undervalued!

[Arkady]

Got 2.5 gold piece US mint sell it for 10,000 USD any takers?

Years ago, a buddy of mine bought ten $20 double-eagle US gold coins in Iran. He was devastated when he found out they were counterfeit. I bought them from him for a fraction of what he paid; they were 90% gold, 10% copper--just like the real thing.

There are many fake bullion coins produced in the Gulf. British £5 gold coins are also popular. Unless these were sold as rare double eagles and the purity was the same as the real ones the value would simply be the bullion value which is the same as the value of a real double eagle minus the treasury's premium for minting them which is I think about 10%. If he paid more than the bullion value for US coins in the Middle East, he was pretty dumb. Rare gold coins should only be bought from reputable dealers and auction houses. There are many fake coins and overgraded real ones offered on EBay too but US coins tend to be sold encapsulated in plastic with a grade from a ratings agency. This is the safest way to buy rare double eagles. Otherwise buy new ones from a bullion dealer in the US.

Sent from my iPhone using Thaivisa Connect Thailand

[Arkady]

I saw the Thai Chinese jeweller in question on TV. He had a tray of not very rare looking Thai silver coins from the Rama V and VI reigns. He was jangling them around and fingering them as if they were spent shell cases. Clearly he had no idea how to handle rare coins to avoid damaging them and reducing their value but fortunately they looked already in fairly poor condition and were probably worth only their scrap value. He seemed more like an idiot than a numismatist.

Sent from my iPhone using Thaivisa Connect Thailand

[smotherb]

Got 2.5 gold piece US mint sell it for 10,000 USD any takers?

Years ago, a buddy of mine bought ten $20 double-eagle US gold coins in Iran. He was devastated when he found out they were counterfeit. I bought them from him for a fraction of what he paid; they were 90% gold, 10% copper--just like the real thing.

There are many fake bullion coins produced in the Gulf. British £5 gold coins are also popular. Unless these were sold as rare double eagles and the purity was the same as the real ones the value would simply be the bullion value which is the same as the value of a real double eagle minus the treasury's premium for minting them which is I think about 10%. If he paid more than the bullion value for US coins in the Middle East, he was pretty dumb. Rare gold coins should only be bought from reputable dealers and auction houses. There are many fake coins and overgraded real ones offered on EBay too but US coins tend to be sold encapsulated in plastic with a grade from a ratings agency. This is the safest way to buy rare double eagles. Otherwise buy new ones from a bullion dealer in the US.

Sent from my iPhone using Thaivisa Connect Thailand

Yes, I know, my friend was victimized by a clever shyster who told him some cock-and-bull story about the coins being part of a purchase made in Iran to his grandfather before WWII and subsequently kept in the family. I paid less than the gold price for the "counterfeits."

[radiochaser]

A friend of mine used to have a fair collection of semi-rare coins; worth 50 to 100 times face value. He went to check them one day and they were gone...turned out his 6 year old son had found them and spent them at the candy store.

You just never know when a coin will end up back in circulation.

When I was 10 years old (1959), my siblings and I lived with my grandmother in a house built before WWII. I found three steel pennies stuck in between two floor boards. Two were minted in 1943. One was minted in 1944.

Having never seen steel pennies before, I did some research about them and found there were no intentional minting of steel pennies in 1944. I had found a treasure coin!! So I hid them.

When the three pennies disappeared from my hiding place, I asked my brother and sister if they had found them. My brother did. He spent them with the other two copper pennies he had found, for a pack of fire crackers!

Easy come, easy go. LOL