Digital museum showcasing the collection of worldwide legends over the years! 千古不朽博物館展示多年來收藏的世界傳奇故事!
Thailand
Rama IV Gold Bullet Money
1/4 Baht
泰國
拉瑪四世黃金子彈錢
1/4泰銖
Item number: A133
Year: AD 1851-1868
Material: Gold
Size: 7.0 x 6.0 x 7.0 mm
Weight: 3.85 g
Provenance: Spink 2023
This artefact is a bullet coin minted during the reign of King Rama IV of Thailand (Siam), which is a type of coin extensively used throughout the history of Thailand and its predecessor kingdoms. It holds a face value of 1/4 Baht and is crafted from gold.
This bullet coin bears the royal emblem of King Rama IV and the symbol of the Buddhist wheel called Chakra as its religious marker.
Bullet coins, known as “Photduang” in Thai, are typically crafted from silver, with rare examples being made from gold, as is the case with this particular bullet coin. The bullet coin is characterised by its curved cylindrical shape, featuring specific stamp or markings on its surface. Each reigning monarch’s personal insignia differs.
The earliest usage of this type of currency can be traced back to the 13th to 15th centuries, persisting until the year AD 1904, when it was eventually replaced by flat coins. One theory suggests that this type of coin may have evolved from the Piloncitos coins of the Philippines, which were transmitted to Thailand and underwent subsequent modifications. Another theory proposes that the widespread use of bracelet-shaped currency in the Nan Chao Kingdom led to its introduction in Thailand, where its size was reduced and its shape compacted, gradually evolving into the bullet coin.
The use of bullet money had existed for over six centuries, ending during the reign of King Rama V of Siam (the fifth monarch of the Chakri Dynasty). At that time, the king believed that Siam should transition to using a standard flat currency, similar to other countries, aiming to facilitate the development of foreign trade and commerce, achieving greater internationalisation. Moreover, the production process of bullet money was carried out manually by skilled artisans, which was highly time-consuming and unable to meet the demands of economic expansion. Therefore, in AD 1904, the government issued an announcement mandating the discontinuation of the circulation of bullet money.
King Rama IV (Mongkut), born on October 18, AD 1804, in Bangkok, Thailand, passed away on October 15, AD 1868. He ruled Thailand from AD 1851 to AD 1868, during which he demonstrated enlightened leadership. As one of the 43 children of King Rama II, Phumiphon Adunyadet, upon his father’s demise in AD 1824, did not ascend to the throne but instead chose to enter the Buddhist monastic order.
King Rama IV exhibited a profound interest in Buddhism and became a erudite scholar. Serving as an abbot in a temple in Bangkok, he transformed it into a centre for intellectual exchange, drawing the attention of numerous Christian missionaries and Western scholars. He engaged in thorough studies of Western culture and science, actively advocating for reform and modernisation.
Following the death of King Rama III, Mongkut’s associates took charge of the succession process. Under his reign, Thailand signed a series of treaties with Western nations, thereby opening up foreign trade. King Rama IV’s diplomatic policies skillfully balanced relations with Britain and France, ensuring the survival of Thailand. His enlightened and tolerant approach proved successful in dealings with Western imperialists.
Furthermore, King Rama IV dedicated efforts to promote the circulation of gold coins during his reign, with the minting of no fewer than 19 distinct types of gold coins. Although it remains uncertain whether these coins were extensively utilised in daily transactions or reserved for specific ceremonies or religious occasions at the time, their existence and production underscored the monarch’s emphasis on and efforts towards currency system reform in Thailand. Through the dissemination and circulation of gold coins, King Rama IV aimed to stimulate trade activities, bolster the nation’s economic prowess, and reinforce domestic currency stability. Despite the challenges in determining their precise impact and usage, these gold coins remain significant testaments to Thailand’s history and culture, offering insights into the socio-economic landscape of the era.