1 baht 1935

Common. eBay market data shows consistent sales activity with prices ranging from $3.25 to $460.89 depending on condition grade, with most circulated examples (VG-VF) selling between $20-$130. AU-graded examples have sold for $89-$460 with high bidding activity, indicating steady collector demand but not scarcity. The issue was printed in substantial quantities by a major security printer across a 3+ year circulation period (1935-1938), and numerous examples remain in collector hands today. The AU condition in this catalog is neither scarce nor particularly common, placing it in the standard range for this popular early Thai banknote.

This note was issued during the reign of King Rama VIII (Ananda Mahidol), who ascended to the throne in 1935 at a very young age following the abdication of his elder brother. The inclusion of the royal barge and temple imagery reflects the deep connection between Thai monarchy, Buddhism, and water transportation in Siamese culture. The 1935 date marks the beginning of a transitional period in Siam's currency history, with this denomination remaining in circulation through 1938.

The obverse features a three-quarter facing portrait of King Rama VIII (Ananda Mahidol) as a young boy, positioned in an ornamental oval frame on the left side, rendered with fine engraved detail characteristic of De la Rue's security printing. The central and right portion of the obverse displays a royal barge (traditional Thai long boat with ornamental prow) navigating waters in front of an elaborate palace or temple complex with multiple spires, suggesting a ceremonial procession scene. The reverse depicts the Phra Samut Chedi temple—a prominent Thai religious structure—situated on water, rendered as a full architectural composition with tiered structures and a central spire. Both sides feature elaborate decorative borders with Thai-influenced scrollwork and floral patterns, with a winged royal emblem (Thai royal insignia) centered at the top of the obverse. A circular watermark zone with concentric wavy lines appears on the reverse left side. The color scheme is predominantly dark blue/navy with cream, beige, and green tints.

FRONT: Serial number '629881' (Arabic numerals, top left in red); Date '18th April 1935' (English, top center in red); '๒๔๗๘' (Thai numerals, Buddhist Era year 2478 = 1935 CE); '๒๒๐๒๔๙๑' (Thai numerals, reference/identification number); 'ธนบัตรสยามกรม' (Thai script, translates to 'Siamese Banknote' or similar currency designation); 'หนึ่งบาท' (Thai script, translates to 'One Baht'). BACK: '1' (Arabic numeral, right side, denomination marker); 'THOMAS DE LA RUE & COMPANY LIMITED, LONDON' (English, printer attribution).

Intaglio engraving (line engraving/recess printing), characteristic of Thomas de la Rue's security printing methodology. The note displays the hallmark features of fine line work, intricate background grid patterns, complex decorative borders with micro-details, and the fine engraved portraiture typical of high-security banknote production from this era. The multi-plate engraved composition and detailed architectural scenes are consistent with De la Rue's advanced printing capabilities of the 1930s.

Pick P-26 has been catalogued by PMG with 1 variant for this base number. The observed note displays serial number 629881, issued 18th April 1935 (within the documented range of 18.04.1935 - 11.09.1938). No overprints, signature variations, or other distinguishing varieties are evident from the visual analysis. This represents a standard mainline issue variant of the P-26 denomination.