BANGKOK — A rare Thai 10-baht coin from 1990 has sold for a staggering 2.54 million baht, turning a piece of pocket change from the 1990s into one of Thailand’s most valuable collectible coins.
The coin was sold in the first-ever auction held through the Treasury Department’s new Treasury Coin Market, an electronic platform launched on 24 August to auction collectible coins and promote Thai coins as real-world assets.
The coin is a commemorative 10-baht issue produced for the 16th Mint Directors Conference held in the United Kingdom in 1990. It is considered one of Thailand’s rarest circulating coins and was the country’s first circulating bimetallic coin.
Only 100 coins were produced. Of those, 34 were displayed or distributed at overseas exhibitions, eight are held by the Mint Museum, while the remainder were kept in storage and never put into circulation.
The auction attracted 52 bids and ended after just 10 minutes and 39 seconds, with the winning bid reaching 2.54 million baht, well above its market value.
The winning bidder was Natthakorn Akkaramanee, a well-known coin expert and collector.
The coin received a MS 66 grade, the highest grading recorded for a Thai circulating coin, according to the Treasury Department.
Treasury Department Director-General Akarut Sonthayanon said the rare 1990 10-baht coin was chosen to launch the new auction platform because of its scarcity and historical significance.
The Treasury Coin Market will hold auctions once a month on the 17th. Upcoming items include a gold coin commemorating the “Healthy All Around” project in honor of Princess Srinagarindra, with a face value of 6,000 baht and only 604 pieces produced, as well as a gold coin honoring Princess Maha Chakri Sirindhorn following her receipt of the Ramon Magsaysay Award for Public Service.
Only 14 of the former coin and around 11 of the latter are currently held by the Treasury Department.