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Thai banknote online museum > Room 1 (Thai paper money) > MaiMai : the first Thai paper moneyAfter Siam had trade relations to the western, the economy size was increasing. The money currency was facing the shortage of Pod Duang due to the low efficiency of production and then the counterfeiting began nationwide. In 1853, His Majesty the King Mongkut (King Rama IV) solved that critical problem by launching the paper money called Mai for use in the circulation along with Pod Duang.
Mai were both sides printed with black ink on the white paper and were stamped with the emblem of the Chakri Dynasty as well as the red crown mark, the King Mongkut's insignia. Mai were originally issued in three types, low-medium and high value. Although all types Mai could be serve all business classes of currency transactions, citizens still not got familiar with them as a commonly used. People still prefered Pod Duang, and always redeemed them into Pod Duang whenever they got these types of paper money. |
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