5 Baht

Pick 46 was issued under the government of Pridi Phanomyong in the immediate aftermath of World War II, when Thailand was navigating the diplomatic fallout of its wartime alliance with Japan and scrambling to establish financial credibility with the Allied powers. The note was part of a broader effort to stabilize domestic currency after years of wartime disruption and Japanese military scrip had eroded public confidence in paper money.

The series was printed by the Thai government's own facility rather than contracted to a foreign security printer — a deliberate assertion of financial independence at a moment when every institutional decision carried political weight.