Treasury-Pays-Homage-to-Late-King-by-Issuing-new-Coins-and-Banknotes

Treasury Pays Homage to Late King by Issuing new Coins and Banknotes

04 Nov 2017  Sat

Sometimes God creates kings that are born to enjoy the throne for a long time just like late King Bhumibol Adulyadej Mahidol, who passed away on the 13th October 2016 after an astonishing reign of 70 years. The government of Thailand prepares to bid goodbye to him. The royal treasury of the kingdom are starting preparations for transition, which will include portraits and effigies of the new king, Maha Vajiralongkorn, on the country’s next series of banknotes and coins.

At the time of the late king’s death, he was the world’s longest-serving head of state, the longest reigning monarch in Thai history, and the longest-serving monarch to have reigned only as an adult, serving for a total of 70 years and 126 days. The images of the bespectacled King Bhumibol Adulyadej were included on banknotes and coins after his accession to the Thai throne in 1946. A total of eight series of Baht bank notes and one new commemorative memorial series have been issued since that year. A collection of commemorative Baht banknotes were issued during King Rama IX’s reign which was in celebration of various royal anniversaries from 1969 to the present. From 1950 onwards, coins denominated in satang and baht, bearing the effigy of the then 19-year-old monarch began to circulate. Also, the Royal Thai Mint issued many commemorative and collector’s coins which marked national and royal anniversaries from 1961 onwards, with the last commemorative coins issued in recognition of King Rama IX’s 70th year of reign in 2016.

In remembrance of the late King Rama IX, the Bank of Thailand in August 2017, announced a new family of banknotes which are the same size and dimensions as the Series 16 bank notes. The designs of the obverse are as before, but the reverse designs feature images of the king’s life during infancy, adolescence, and maturity. The new family of banknotes was issued on the 20th September.

As there were many updates during the month of preparations for the official funeral of King Rama IX, the Treasury Department has proposed details of the new coins for cabinet and royal approval.

There’ll be new proposals too as recent reports suggest that the Treasury Department plans to produce new coins of 10-, 5-, 2-, and 1-baht values, as well as smaller denominations ranging from 1 to 50 satang. The proposal will also mention plans for commemorative coins for this event, expected to take place the month after King Rama IX’s cremation.

The director-general at the Treasury Department said that his office has proposed that the royal cabinet issue a ministerial regulation, defining the coins’ values, metal, weight, sizes, and patterns. After this procedure, the department will be granted a royal decision on the designs of the planned coronation commemorative coins.

These details for both circulation and commemorative coins will also need screening from the department’s committee for coin planning and the committee for commemorative coins, as well as approval from the Ministry of Finance.

On 26th October, the official cremation of the late King Rama IX will take place along with a lavish ceremony. Just after that, the procedure will commence. On 1st December 2016, his successor Maha Vajiralongkorn, also referred to as King Rama X was officially announced as Thailand’s new king. For additional information on the coins of Thailand, please visit the website of the Royal Thai Mint.