Bring a few cups of water to boil while you're prepping the peppers.
Slice each pepper from stem to end on one side and remove the seeds. A small spoon or the handle of a spoon works great for this.
Put the peppers in a small bowl as you clean out the seeds and when you're done pour the boiling water over them and let them steep for 5 minutes to remove any remaining seeds. Drain.
Warm the vinegar and sugar in a saucepan and stir until the sugar is dissolved. You don't need to bring it to a boil. The sugar will dissolve before that.
Take a quart jar and add the peppercorns, bay leaves, coriander seeds, chilies, and salt to the jar.
Pour the vinegar and sugar mixture into the jar of chilies. Allow it to cool, then put the lid on and stick in the back of your fridge so you can ignore it for a few weeks. At least 2 anyway! Jamie Oliver says it will keep in the fridge for 4 months but I think mine will be consumed long before that!