Explaining the High Price: The Legendary 1990 10-Baht Coin Auctioned for 2.54 Million Baht — Check Next Auction Dates

The Treasury Department partnered with Krungthai Bank to launch the Treasury Coin Market system. Auctioning the 1990 10-baht coin. Through the Paotang app for the first time worldwide, with fierce bidding of 52 rounds, closing at 2.54 million baht.

On 24 August, the Treasury Department of the Ministry of Finance held the official opening ceremony for the Treasury Coin Market system, a collaboration between the Treasury Department and Krungthai Bank to conduct coin auctions via an online platform. The opening ceremony was presided over by Mr. Akniti Nitithanprapas, Deputy Prime Minister and Minister of Finance. This marked the Treasury Department's first online coin auction, aimed at adding value and channeling revenue as government income. Participants could register through the Paotang application.

Excitement as the 1990 10-baht coin auction soars to 2.54 million baht.

The highlight of this historic auction was the 1990 10-baht coin, a legendary piece eagerly awaited by collectors worldwide, with only one coin offered for auction. According to the Treasury Department, only 100 of these coins were produced globally, divided as follows:

• 34 coins distributed at the 1990 Coin International event.
• 8 coins preserved at the Coin Museum.
• 58 coins retained at the Mint Division.

Bidding fiercely 52 times before closing the auction to the head of The Coin Market.

In this online auction, 23 bidders registered, with 5 actively competing. The auction rules stipulated that if a bid was placed in the last minute, the auction would extend by one minute each time until no higher bids were offered.

The starting bid was set at 300,000 baht. After over 10 minutes, bidding intensified with 52 competitive offers. The auction closed at 2,540,000 baht. The winning bidder was Mr. Nattakorn Akkaramanee, CEO of The Coin Market. All proceeds will be remitted as government revenue.

Mr. Akniti Nitithanprapas revealed that this auction is a special opportunity, and the 1990 10-baht coin will not be auctioned again in the future. Launching the Treasury Coin Market platform has energized the coin collecting market domestically and internationally, valued at tens of billions of U.S. dollars. This is also the world's first time a government coin producer independently operates an online auction platform.

Treasury Department to hold rare coin auctions on the 17th of every month.

Mr. Akarut Sontayanon, Director-General of the Treasury Department, stated the department plans monthly auctions of valuable coins on the 17th. The next auctions will feature rare coins such as:

1. The Somdet Ya Healthy Life coin, with 604 produced and only 14 remaining at the Treasury Department.

2. The 1991 commemorative coin for King Rama VII's birthday.

3. The commemorative coin for the Mak Sizai Award honoring Her Royal Highness Princess Maha Chakri Sirindhorn, with 600 produced and only 11 remaining at the department.

Interested participants can register and learn how to use the Treasury Coin Market auction system via the website coinmarket.treasury.go.th, a key source for auction news for collectors in Thailand and abroad.