1 Baht / 1 Tical Series 1

Siam's first government banknote series, issued by the Ministry of Finance rather than a central bank — the Bank of Thailand would not exist until 1942. The choice of Thomas De La Rue reflected a broader pattern among Southeast Asian administrations of the period, outsourcing security printing to London while maintaining local issuing authority.

Pick 1 is the foundational reference for Thai paper money collecting, and genuine examples with intact watermarks are considerably harder to locate than the catalog frequency might suggest. Heavy wartime and postwar attrition took most of them.