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| 背面铭文 | ๑ 1 |
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| 变体 | P#54a(1) - signature: watermark: wavy lines P#54a(2) - signature: watermark: wavy lines P#54b - signature: without watermark* * not listed in Thai catalog; probably a counterfeit |
| 备注 |
Thailand's Ministry of Finance issued this note during an extraordinarily turbulent window — the Japanese occupation had ended, but the country was navigating the political fallout of having formally declared war on Britain and the United States in 1942. Domestic printing capacity was limited throughout the war years, and low-denomination notes like this one circulated hard and wore out fast.
The counterfeit issue flagged in the reference data is worth taking seriously. Watermarkless examples are not a printing variant — the Thai catalog excludes them entirely, and given the economic instability of 1945–46, contemporary forgeries of small-denomination notes were not unusual.