To summarize I intermittently spotted something unusaual in an auction lately and took the leap that what I was looking at wasn't an ink impressaion, but a coin struck over another. The host coin was a Japan Yen, Meiji 15 (1882), which had been cored to make a smaller planchet for a Thain 1 Baht, Rama V (1876-1900)
As luck had it, the punch brilliantly included the date.
This is the first instance I have seen of a Thai 1 Baht struck over another coin. More common are Brazil 960 Reis struck over spanish colonial 8 Reales.
Lastly here's a picvture with a whole yen (Meiji 36) for comparison.