50 Baht

P#112 belongs to the Series 15 family, introduced following the 1997 Asian financial crisis and the baht's catastrophic float — a period that prompted the Bank of Thailand to modernize its note architecture and bring production more firmly under domestic control. The Note Printing Works had been operating since 1969, but the post-crisis series represented a significant expansion of its output responsibilities.

Security on this issue is relatively modest by mid-2000s standards — watermark and thread only, without the optical variable devices that would become common on later Thai issues. Collectors should be aware that the Series 15 50 Baht was replaced fairly quickly as the Bank of Thailand accelerated its security upgrade cycle through the 2000s, limiting the note's active circulation window.