A 10-baht coin from 1990, one of only 100 ever made, sold for 2.5 million baht in Thailand's first online rare coin auction on Monday. The bidding lasted just 10 minutes and 39 seconds, with 52 bids pushing the price far above the expected 1 to 2 million baht range.
The coin was minted by the Royal Thai Mint as a souvenir for representatives from government mints worldwide who attended the 16th Mint Directors Conference in the United Kingdom in 1990. It was never meant for general circulation, and its mintage of 100 pieces stands in stark contrast to the millions of regular 10-baht coins produced in surrounding years.
A nearly flawless specimen draws global attention
The auction took place on the Treasury Coin Market, an online platform launched by Thailand's Treasury Department on August 13. Bidders had to register and pay a security deposit before joining. The winning coin was graded MS-66 on the Sheldon Coin Grading Scale, meaning it is nearly flawless, a condition that made it especially desirable to serious collectors.
The Treasury Department had called the sale a "golden investment opportunity" in its announcement. The final price of 2.5 million baht was the highest among the top five bids, which ranged from 2.46 million to 2.54 million baht.
A local expert takes home the prize
The winning bidder was Nattakorn Akkaramanee, chairman of "The Coin" market in Nakhon Nayok province and a well-known coin collecting expert. His purchase underscores the deep interest in rare Thai coinage among domestic collectors, who see such pieces as both historical artifacts and financial assets.
The auction marked a shift for Thailand's rare coin market, which has traditionally relied on in-person sales. The Treasury Department said it plans to hold more online auctions in the future, opening the door for a wider pool of bidders and potentially driving prices even higher for the country's most elusive coins.
