20 Baht - 100th Anniversary of Thai Banknote Issuance

Thailand's first government banknotes were issued in 1902 under Rama V, replacing the earlier tical coinage system as the primary medium for large transactions — a shift driven as much by the administrative demands of a modernizing bureaucracy as by any shortage of metal currency. The centennial of that transition was commemorated across several collectable formats, of which this copper-nickel piece is the more accessible.

Mintage for commemorative 20 Baht issues of this period was typically modest and oriented toward collectors rather than circulation, though examples do appear in circulated grades.