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The use of coins in Siam (now Thailand) began during the reign of King Mongkut, Rama IV. At that time, the main currency was Pod Duang, which was handmade and insufficient to meet the growing demand, especially after making treaties with foreign countries like England, the United States, France, and Portugal. In 1857, Thai diplomats developed relations with Queen Victoria of the United Kingdom, and as a gift, received a small coin-making machine. Subsequently, a steam pressure coin-making machine was purchased, and a factory called Sitthikan Mint was established in front of the Grand Palace to produce coins.
In 1860, the first international coin was minted, depicting Phra Maha Phichai Mongkut on the front and a Buddha image on the back, alongside the Pod Duang. This era saw coins with denominations such as Chang, Tamlung, Baht, Salung, Fueng, and Pai. In 1876, the image of the King of Thailand was stamped on coins, and later, coins displayed Phra Siam Thevathiraj and a three-headed elephant, which eventually became the emblem of the Bank of Thailand.
In 1898, His Majesty revised the Thai currency into baht and satang, with 100 satang equaling 1 baht, replacing the older units of weighing, salung, baht, and fuang. This system has been used continuously until the present day.
