Rare B10 coin sells for B2.5m in first online auction

Collectible coin auctions planned once a month, one day after the lottery draw The "near flawless" 10-baht circulating coin, BE 2533 (1990), that sold for 2.5 million baht . (Photos: Treasury Department) Thailand's first electronic rare coin auction on Monday featured a 10-baht circulation coin from 1990 that went under the hammer for 2.5 million baht.The auction began at 10.30am on the Treasury Coin Market, launched by the Treasury Department on Aug 13, and was concluded in just 10 minutes and 39 seconds, with a total of 52 bids. The coin featured in the first online event is one of only 100 special 10-baht bimetallic circulating coins produced by the Royal Thai Mint as souvenirs for representatives from government mints around the world attending the 16th Mint Directors Conference in the United Kingdom in 1990. According to the Treasury, the 1990 10-baht circulating coin was produced in an extremely limited quantity compared with coins from surrounding years, which were produced in the millions. The special commemorative item was never intended for general circulation. Since being produced it has become a highly rare and valuable collectible, avidly sought by numismatists. Monday's auction was a “golden investment opportunity”, the Treasury announcement said. The auctioned coin was classified MS-66, a grade on the Sheldon Coin Grading Scale meaning a nearly flawless coin. (continues below) Bidders were required to register first and make the required security deposit. The department had expected a hammer price around 1-2 million baht. The five highest bidding prices for the coin were 2,540,000 baht, 2,520,000 baht, 2,500,000 baht, 2,480,000 baht and 2,460,000 baht. The winning bidder was Nattakorn Akkaramanee, chairman of "The Coin" market in Nakhon Nayok province and a recognised coin collecting expert. As for future plans, the Treasury said it aimed to hold collectible coin auctions on a monthly basis, scheduled for the 17th of every month, one day after the government lottery draw. The next auction is expected to feature additional notable collectibles, including a 1991 gold coin from the reign of King Rama VII and other prestigious commemorative and award medals. The initiative is intended to continuously stimulate and support Thailand’s coin collecting market. Details of the auction and registration procedures are available on the Treasury Coin Market platform.