Old french francs

Banknotes and coins of the old French franc, currency of France before the euro, with history from 1360 to 2002.

About this subject

The French franc was the official currency of France for over six centuries, from its creation in 1360 by King John II, who minted the "franc à cheval" to pay his ransom. The coin underwent several reforms: abolished during the Revolution, it was reintroduced in 1795 as a decimal unit, replacing the livre. In 1960, Charles de Gaulle implemented the new franc, worth 100 old francs, to combat inflation. Finally, in 2002, the franc gave way to the euro, ending an era.

Old franc banknotes are coveted by numismatists. They depicted emblematic figures such as Voltaire, Montesquieu, Pasteur, and Debussy. The 500-franc note featuring Pascal, issued in 1969, is one of the most iconic. Coins included denominations of 1, 5, 10, and 20 francs in nickel and silver. Security was rudimentary compared to modern notes, with watermarks and embossing, but counterfeiting was common.

The purchasing power of the franc eroded severely. In 1901, 1 franc bought 1 kg of bread; in the 1950s, 100 old francs (1 new franc) barely covered a coffee. Post-war inflation forced the 1960 reform. Collectors today pay hundreds of euros for rare notes in high condition, especially series from 1940 to 1950.

Culturally, the franc is ingrained in French memory. Expressions like "c'est pas donné" or "un franc six sous" persist. Museums and exhibitions dedicated to the franc showcase its artistic evolution. The end of the currency sparked nostalgia, and many French people kept notes as souvenirs.

Frequently Asked Questions

What is the difference between the old franc and the new franc?

The new franc, introduced in 1960, was worth 100 old francs. The reform removed two zeros to simplify transactions and curb inflation.

Can French francs still be exchanged?

Franc banknotes could be exchanged for euros at the Banque de France until 2012. Metallic coins have no exchange deadline and lost legal tender status.

Which franc notes are most valuable to collectors?

Old notes in pristine condition, especially high denominations (5000, 1000 francs) and rare series like the 500-franc Pascal from 1969, can be worth hundreds of euros.