Historical features The formation of France as a state had a significant impact on the history of the development of French money and coins. Until the middle of the 14th century, France did not have its own monetary unit, and the monetary system was based on the circulation of denarii - Roman gold coins.
Ancient French coins: history of origin
After the fall of Rome in the 5th century. and the formation of the Frankish state, Roman coins gradually went out of circulation due to damage and erasure, and on the territory of France their own French coins began to be minted: first silver, and soon gold.
After the monetary reform of Charlemagne, countable monetary units appeared in France.
On large sums The money was counted in livres, sous and denarii. The Frankish kings sought to centralize coinage.
Gradually, the royal coinage fell into decay, and the appanage kings switched to issuing each their own coins.
Medieval coins of France
The first generally accepted state currency appeared at the beginning of the Hundred Years' War (1360). These were francs - gold coins with the image of the king and the Latin inscription FRANCORUM REX (from Latin king of the Franks).
The king was depicted on horseback on the coin, which is why it was popularly called the “horse” franc. When King Charles V began minting coins with the image of the king in his full height, they began to call it the “foot” franc.
The gold franc was issued until the middle of the 15th century, and during the reign of Louis XI it was replaced by the gold ecu.
In 1575-1586, a silver franc weighing 14.188 g began to be produced. The minting of francs from 833-carat silver continued until 1642.
The issue of coins was carried out and controlled by the cities of medieval France. At the same time, aristocrats began minting their own coins. In the territories subject to England, so-called Anglo-Gallic coins appeared.
Coins of the 17th - 19th centuries
In the middle of the 17th century, the silver ecus temporarily took a leading position in the monetary circulation of France. Later, the coinage system "golden ecu" was decimalized, when 1 franc was equal to 10 decimes (or 100 centimes). The five gram 1 franc coin contained 4.5 grams of pure silver. Coins were issued in denominations of 5 francs, 2 francs, 1 franc, ½ and ¼ francs, which were later supplemented by gold coins in denominations of 100, 50, 40, 20, 10 and 5 francs.
During the First Republic, the Law of August 15, 1795 established the national currency - the franc.
Bimetallism existed in France for almost all of its history. XIX century. The law provided for the free minting of gold and silver coins having the force of the main means of payment. The value ratio of silver and gold is accepted as 1: 15.5, respectively.
At the same time, paper francs began to be printed, which depreciated in value within three years, and hard currency was finally approved at the state level.
French gold and silver coins
In 1800, by order of Napoleon Bonaparte, the Bank of France was created, which had the exclusive right to issue money. After 65 years, the Paris Convention was signed, as a result of which the Latin Union was formed, uniting the monetary systems of France, Switzerland, Belgium, Italy, and later Greece and Finland.
The basis for the creation of the Union was the recognition of the French franc as the cost standard for the minting of silver coins of the same mass and denomination by all participating countries. Monetary units of the countries of the Latin Union were characterized by the same metal content, which amounted to 0.29 g pure gold and 4.5 g of silver.
Silver and gold coins were legally subject to free circulation as the main means of payment in the territory of all countries included in the Latin Union. At the same time, the monetary units of each country had their own name, but maintained equal parity. Thus, 1 French franc was equal to 1 Belgian franc and 1 Swiss franc.
Excessive release paper money in France and Italy provoked the instability of the Union. There was a sharp decline in the market value of silver, and soon, when exchanging depreciated silver coins, participating countries suffered losses of gold.
The minting of silver coins was stopped, and from 1873 to 1926 the Latin Union existed in the regime of gold monometallism. During the First World War and the post-war period, changes occurred in the monetary policy of the participating countries of the Latin Union, which led to the collapse of the Union and the transition to a new stage of development of the monetary system directly in France.
During the war, gold coins were replaced by banknotes to finance government military expenditures. The stabilization of the franc occurred only in 1926 after the monetary reform, the essence of which was the exchange of banknotes for gold bullion at par.
In 1928, France switched to the gold bullion standard, which lasted until 1936.
During the Second World War, there was an increase in the issue of banknotes, the devaluation and redenomination of the franc. From now on, the new franc received 0.18 g of pure gold and was equal to 100 old ones.
Modern coins of France
The post-war period in France was characterized by numerous attempts to “recover” the economy to reduce inflation, which ultimately led to the emergence and development of a paper-credit monetary system.
The modern monetary system of France has gone through two stages of its development.
1. Circulation of the franc (until 2002).
During this period, money was issued by: the Central Bank of France, some financial institutions, and the Ministry of Finance. Responsibility for implementing a unified monetary policy was assigned to the Central Bank of France.
There is a decrease in the number of banknotes and small change in circulation and a simultaneous increase in demand deposits on current accounts and credit cards.
2. Transition to a single currency - the euro.
Since January 2002, the French franc has been withdrawn from circulation. A single European currency, the euro, appears.
IN currently France is a member of the European Economic Community and actively participates in all reforms.
The only legal tender is the euro.
Marianne - a symbol of free France - VIDEO
Marianne- national symbol of France since 1972. Depicted as a young woman wearing a Phrygian cap. She is the personification of the French national motto “Liberty, equality, fraternity”. Sculptural images of Marianna are a mandatory attribute of government agencies, courts, municipalities, and so on. Before the introduction of the euro, images of Marianne were placed on centimes and francs; currently they can be seen on eurocents (1, 2, 5) of French coinage.
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Found an interesting study about money and the cost of certain things in France during the era described in Dumas's novel The Three Musketeers, as well as a link to an article on a similar topic from a magazine cesareborgia . I read it with pleasure and took it away, I think you will be interested.
(...)
Of course, there are even more blunders in the area of money in cinema than in weapons. It’s true that the general public has little understanding of the history of weapons and money, so such blunders do not interfere with the understanding of the plot. But still...
Both Dumas the father and Dumas the son lived in an era when specie was still in circulation. And, despite the fact that they could have made mistakes when writing the opus about d'Artagnan, they knew well the value of a gold coin in their time. And the purchasing power of gold in history has not changed very much. Well, plus or minus twice.
Let's take advantage of this and try to find out the value of money of that time in the context of today's prices.
So. According to Dumas's primary source, the father gave his son d'Artagnan 15 ecus, all he could. Dumas dated this event to 1625. Silver ecus began to be minted only in 1641. This means that these are gold coins weighing 3.5 grams. This is 52.5 grams of gold, or 1 , 68 troy ounces. Today an ounce costs about 1600, so the father gave his son 2700 bucks for the trip.
D'Artagnan sold a horse in Paris for 3 ecus, which would be 540 bucks. And even then, only thanks to the marvelous color of this bucephalus. Try to buy a horse for 540 bucks and you will see what a crazy nag they will sell to you. An analogue of a Lada for 540 bucks. In the movies it was somewhat differently - the grocer gave him a hat with a feather in return for the same 3 crowns. This is a normal hat.
Now let's compare this amount with the capital's scale. Do we remember the episode with Porthos, his boast about a sword sling for 12 pistoles? When the interlocutors looked with disbelief at Porthos, who assured that the price of this miracle was as much as 12 pistoles. How much it?
Pistol, aka doubloon, aka double escudo. Coin 6.2 grams. 12 pistoles 74.4 grams of gold, or 2.4 ounces of gold, or in modern terms 1600 bucks, about 3800 bucks for one piece of clothing. Not bad, right? Now do you understand more clearly the anger of Porthos, caught in a lie?
Here there are some discussions about money in the time of d'Artagnan - http://cesareborgia.livejournal.com/358078.html#t3719358
But I will add a couple of comments.
I was very surprised by the ratio of two pistoles for a louis d'or. For two coins of 6.2 grams of gold, one in 7 kopecks? Come on.
And further. Alas, in those days the kings dabbled in damaging small change. Well, they did not reduce the budget, as they do now, and so they robbed the people by releasing inferior small change into circulation. There was no risk with gold - it participated in international trade, counterparties could refuse to accept coins, as was the case with Spanish coins interspersed with platinum... Yes, yes, then it was a fairly cheap metal, up to two times cheaper than silver. But livres, sous and deniers became increasingly cheaper. Therefore, when someone claims that an ecus is so many livres, one must always ask a counter question - in what decade? Why decades? Back then, the kings, although they were hounds with money turnover, were not like today’s presidents.
Therefore, I am skeptical about converting ecus into livres.
"Now let's count how much we have in total. Porthos?
- Thirty crowns.
- Aramis?
- Ten pistoles.
- At yours, d'Artagnan?
- Twenty five.
- How much is it in total? - asked Athos.
- Four hundred and seventy-five livres! - said d'Artagnan, who counted like Archimedes.
Alexandre Dumas, "The Three Musketeers", Chapter XXVIII "Return"
At the request of workers small selection information on monetary units " Three Musketeers".
"<...>A few words about money. The main monetary unit in France was the livre or franc (officially the franc replaced the livre in 1799). One livre was divided into 20 sous, and a sous into 12 deniers. A silver coin - an ecus - was equal to three or more livres. The value of money varied depending on the market situation and was set by the state. A gold louis d'or was equivalent to 24 livres. In France, Germany, and Italy, the Spanish pistol coin, equal to 10 livres, was in circulation.<...>"
(from here)
"<...>The smallest coin was the denier. This was followed by:
1 liar = 3 denier,
1 sou = 4 liara,
1 livre = 1 franc = 20 sous,
1 ecus = 3 livres,
1 pistole = 10 livres,
1 louis d'or = 2 pistoles,
1 double louis d'or (aka quadruple) = 4 pistoles.
The pistol, strictly speaking, was a Spanish gold coin, but was in circulation in several European countries, including France.
Louis d'or, as the name implies (Louis d'or - Louis's gold) was also gold. The ecus was also minted from gold until 1641. The livre was silver, other coins were copper (although the sou was sometimes made of iron).<...>"
(hence the only one useful quote from the whole bad book)
In the notes to the memoirs of Cardinal de Retz there is also the idea that 1 pistole was equal to 11 livres. Combined with the above-mentioned fact that some money had a “floating value”, I conclude that the exchange rate was very arbitrary. Let us also remember that Europe was then in a state of constant war, in particular, Thirty Years. Well, in war time, as you know, sine can reach two, and Pi can equal three.
C.C.:
I think it would also be extremely interesting to analyze from this point of view the episode from “10 Years Later,” in which D’Artagnan and Planchet draw up the first business agreement in history (even more precisely, speaking in today’s language, a loan agreement), according to which D’ Artagnan received capital from Planchet to finance his business venture in England.
But, as always, lazy...
The French franc is the national currency of France. Was in circulation from 1795 to 2002. The symbol is ₣.Along with the introduction of the franc, a decimal money account (1 franc = 10 decimes = 100 centimes) and a standard for gold and silver content came to Europe. It was determined for the Germinal franc in 1803, amounting to 1:15.5 and becoming the base ratio in the Latin Monetary Union. This union became the largest in Europe, it existed from 1865 to 1914 and had big influence to reform the monetary systems of many countries, in particular Russia.
Since 1939, a new monetary union, the so-called franc zone, began to take shape. The exchange rates of its member countries were pegged to the franc (to the euro - since 2002). From 1974 to 1998, the franc was part of a basket of five currencies (dollar, German mark, yen, pound sterling, franc) of the International Monetary Fund, on the basis of which the SDR rate was calculated - special drawing rights.
The franc replaced the Parisian (9th-13th century, in the north of the country until the 17th century) and Tours livres. The livre was divided into 20 soles (colloquially “sous”) or 240 deniers. Since the 17th century, larger coins have been issued - gold louis d'or. Luidor was first issued during the reign of Louis XIII, it weighed 6.751 grams of 917-carat gold. By the beginning of the 18th century, the weight of the louis d'or was increased to 8.158 grams, and later to 9.79. Coins were issued in 0.5, 2, 4, 8 and 10 louis, they were equal to 20 livres and ecus, equal to 5 livres.
Ecu (from the Latin “shield”) were minted in different time both gold and silver. Coins of similar etymology were called “escudo” in Portugal and Spain, and “scudo” in Italy, these names also come from the word “shield” in the respective languages.
Su is the popular name for the salt coin, which, with the transition to decimal system replaced by a 5 centime coin. However, this tradition turned out to be so strong among the people that the French called 5 centimes “su” for more than two hundred years, until the introduction of the euro in the country. Even today this word is used colloquially to define monetary “trifles.”
A smaller coin of change in France, which was in use in the 14th - 18th centuries, was called the liard. It was equal to 3 deniers, during the time of Louis XV it became the smallest French small change coin that was minted before the introduction of the decimal coin system. The Paris Mint was founded under King Charles the Bald in 864.
In 1790, paper money came into circulation in France, they were called assignats; in troubled revolutionary times they replaced coins made of gold and silver. Government spending increased, forcing it to print more paper money. As a result, by 1795 the country became bankrupt and was forced to return to the use of coins.
The livre was replaced by a new monetary unit - the franc. The 1 franc coin weighed 5 grams with a silver content of 4.5 grams. In 1803, the gold standard (“germinal franc”) was established, equal to 0.2903 grams, and gold Napoleons began to be issued instead of louis d'or.
However, the franc can be called the new monetary unit of France rather conditionally. IN different years, under different rulers, gold or silver coins with the same name were minted, for example, in 1360 - the so-called gold “horse franc”.
During the First World War, gold coins were replaced by banknotes, and silver coins by aluminum bronze.
The exchange of paper francs for gold was briefly reinstated in 1928. Since 1933, France led the Gold Bloc (Italy, Poland, Switzerland, Belgium, the Netherlands), these countries pledged to provide mutual assistance in order to maintain the gold standard. But soon a global economic crisis broke out and by 1936 the Gold Bloc, like the gold standard, was finally liquidated.
During World War II, the franc was tied to the Reichsmark. Coins were issued depicting the coat of arms of the Vichy government. From 1944 to 1948, US-printed banknotes in denominations ranging from 2 to 500 francs were used in France, then the country switched to its own currency.
It was decided to leave the design of the post-war French franc the same, similar to the design of 1934-1940, but the coins were minted from cheap aluminum. Financial position The country was greatly shaken after the war, the franc constantly depreciated. So, in 1944 the dollar to franc exchange rate was 1:50, in 1958 it was already 1:420.
In 1960, de Gaulle's government decided to carry out currency reform.
Old francs were exchanged for new ones at a ratio of 100:1. The old 1 and 2 francs remained in circulation as coins equivalent to 1 and 2 centimes, respectively. Inflation, however, gradually devalued the new franc, and in 1999, by the time of the transition to the euro, it was already worth 8 times less.
Since August 1971, a dual currency market was introduced in the country. Since March 1979, France joined the European Monetary System. The last French franc notes featured prominent figures from France:
- 20 francs – composer Claude Debussy;
- 50 francs – writer and pilot Exupery;
- 100 francs – artist Paul Cezanne;
- 200 francs – engineer Gustave Eiffel;
- 500 francs – physicists Pierre and Marie Curie.
The design of the national side of the euro coins is based on three traditional types of French coins:
- 1, 2, 5 euro cents – image national symbol France Marianne;
- 10, 20, 50 euros - image of the Sower;
- 1 and 2 euros - an image of a stylized tree and the motto: “Freedom, equality, fraternity.”
France, like other Eurozone countries. issues commemorative coins with a face value of 2 euros, for example, dedicated to the Treaty of Riga, issued in 2007.
Collectible euro coins have been issued since 2002 and are presented in various denominations and materials - silver, gold. In just ten years, more than 350 types of such coins were issued.
There are two types of currency in use in France: the French Pacific franc and the euro. Let's try to figure out where both units of monetary circulation operate, where it is better to exchange currency, and also learn a little about its origin.
French Pacific franc
The named currency of France was considered valid from the end of the 14th century until February 2002. Since then, the euro has officially become the currency of France, but in some Pacific overseas territories this moment The French franc also continues to exist.
Origin of the franc
This monetary unit of France received this name after the release of King John II from captivity during the Hundred Years' War. The currency was also used as a ransom for the British. One Pacific franc is equal to ten decimes or one hundred centimes. The latter, translated from French, means a hundredth part of something. Sentim has lost its function as a small change and is practically not used anywhere, but such a currency has not been officially abolished.
Expert opinion
Knyazeva Victoria
Guide to Paris and France
Ask a question to an expertIn the mid-20th century, the French franc was officially introduced into economic life country government of France.
In the post-war period, such a currency was considered unstable, so the authorities decided to link the franc with the US dollar, which had a stable position in the Pacific regions. In 5 years, the Pacific currency will stabilize and the rate will be 100 francs per 2 US dollars. Another 2 years later, the French government made a decision and designated it with a corresponding document, according to which the Bank of Indochina was deprived of all its powers in the emission policy in the French possessions in Oceania, but this was only a formality. In fact, the bank continued to operate in this region until almost the very end of the 20th century, when the Issuing Institute of French Overseas Territories was created. At the time of its creation and operation, a series of banknotes and coins were issued that are still in circulation today.
Now many subjects of the Pacific territories of France use banknotes of the same type in different denominations: 500, 1000, 5000, 10000 francs. Coins also participate in circulation: 1, 2, 5, 10, 20, 50 and 100 francs.
Saint Genevieve des Bois cemetery
CFP franc banknotes are interesting due to their unique design and bright colors. All, except for the five thousand franc banknote, have colorful images of nature, the inhabitants of the local islands and their way of life on the obverse and reverse. On the five thousand dollar bill there is a portrait of Bougainville with drawings of ships and sailing ships.
currency of France
Interesting fact
In New Caledonia and Wallis and Futuna, the coins differ from the Polynesian coins in design, but are still accepted as legal tender. Coins from New Caledonia feature bird designs, while coins from Polynesia feature palm trees and memorable island locations. The obverse of the coins, including from 1 to 10 francs, contains an outline of the national symbol of France - Marianne. Higher denomination coins proudly bear its bas-relief profile. The material for making coins is most often aluminum, and 100 franc coins are made from an alloy of nickel and bronze.
Not only the main circulating coins, but also their commemorative and collectible brothers act as a means of payment. They also apply to all subjects of the French Pacific territory.
Exchange currency for francs
Travelers and guests of the constituent entities of the Pacific territories of France can exchange currency only in large cities - administrative centers, in banks and exchange offices located there. You can also make an exchange at airports, train stations, hotels and even some hypermarkets.
Today's currency of France
France, like other 18 countries, is located in the eurozone, and the currency is the euro. One euro includes 100 euro cents.
Administrative divisions of France
Banknotes in denominations of 5.10, 20, 50, 100, 200, 500 euros and coins in denominations of 1, 2, 5, 10, 20, 50 euro cents participate in economic circulation; 1 and 2 euros.
Where does the name of the currency and its symbol come from?
The euro is the common currency for all 19 eurozone countries. It was decided to rename the new currency in 190 during the convening of a planned meeting of the Council of Europe in Madrid. Visually, the euro sign is a copy of the epsilon. The letter E stands for Europe. Pay attention to the two vertical parallel lines - they indicate the stability and indestructibility of the currency.
Currency exchange in France
In this regard, the euro is much more convenient and currency exchange will not be difficult for any tourist. In France, you can exchange brought currency for euros in many establishments - at a bank, post office, hotel, airport and large supermarkets. Exchange offices - “bureaux de change” - deserve special attention, since most often they do not charge a commission. But the exchange rate and the commission charged are not the same: it happens that a high commission percentage is compensated by a good exchange rate, and vice versa. If a bank has been chosen as the exchanger, then anyone wishing to change currency is charged a fixed amount - approximately 3-5 euros per operation. The situation with the exchange of US dollars in the country last years is deplorable due to the high commission (up to 10%).
Opening hours of banking institutions in France
Banks in most of France provide services from Tuesday to Saturday until 17.00, including lunch breaks. In the capital, banks operate without interruption and are open from Monday to Friday, also until 17.00. Exchangers serve tourists for 2 hours longer and most often from Monday to Saturday from 18.00. During holidays, operating hours may change (in most cases, the working day will be limited to until lunch) or banking institutions will not be open at all. The situation on such days is not entirely stable, so you can once again make sure that currency exchange needs to be thought out in advance, and it is better to carry out this operation in your homeland.
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