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5 Baht 'Ploughing Ceremony' Series 2, type I 'Contract'

Issuer Government of Siam
Year 1925
Type Standard circulation banknote
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Obverse description Printed in violet and green on white paper, the obverse bears the Thai inscription 'รัฐบาลสยาม' (Government of Siam) at the top centre, with the denomination 'ห้าบาท' (Five Baht) in an ornate oval guilloche at centre. A Garuda vignette occupies the upper left, while a three-headed elephant (Erawan) vignette appears at the lower right, both set against a radiating sunburst underprint pattern. The date '1st May 1925' and serial number appear at left, with the Minister of Finance signature and the printer's imprint 'THOMAS DE LA RUE & COMPANY LIMITED, LONDON.' along the lower margin.
Obverse lettering รัฐบาลสยาม สัญญาจะจ่ายเงินให้แก่ผู้นำธนบัตรนี้มาขึ้นเป็นเงินตราสยาม ห้าบาท เสนาบดีกระทรวงพระคลัง THOMAS DE LA RUE & COMPANY LIMITED, LONDON.
(Translation: Government of Siam Contract to pay to one redeeming this banknote by Siamese currency Five Baht Minister of Finance)
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Comments

Series 2 was Siam's first domestically designed banknote series — earlier issues had relied almost entirely on foreign design input — though De La Rue still handled the printing in London. The 'Contract' designation within Series 2 distinguishes notes issued under the original printing contract from later 'Decree' issues, which were authorized under different legislative authority following administrative changes in the Finance Ministry.

The ploughing ceremony connection anchors this note in the royal agricultural ritual conducted annually at Sanam Luang in Bangkok, a Brahminic rite performed by the king or his proxy to bless the rice harvest. Siam's economy at the time was overwhelmingly dependent on rice exports, and the choice of imagery was deliberate policy, not decoration.

Type I notes of this series are notably scarcer than their successors — the printing quantities were modest and Thai humidity is unforgiving to paper.