Old french francs

The old French francs circulated for centuries until the adoption of the euro in 2002, marking France's economic and cultural history.

About this subject

The French franc was introduced in 1360 by King John II during the Hundred Years' War, under the name 'franc à cheval'. The currency underwent several reforms, including the creation of the germinal franc in 1803 under Napoleon Bonaparte, which established a bimetallic standard of gold and silver. The franc became the basis of the French monetary system and influenced other European currencies.

In 1960, Charles de Gaulle's government implemented the 'nouveau franc' (new franc), equivalent to 100 old francs, to combat inflation. Banknotes began to feature emblematic figures such as Voltaire, Victor Hugo, and Marie Curie, as well as landscapes and national symbols. Metal coins included denominations of 1, 5, 10, 20, and 50 centimes, and 1, 2, 5, and 10 francs, with designs evolving over the decades.

On January 1, 2002, the franc was replaced by the euro, ending more than 600 years of history. Old banknotes and coins were exchangeable at the Bank of France until 2012, but today they hold only numismatic value. Collectors seek rare series, such as World War II banknotes or early germinal francs, which can be worth hundreds of euros depending on condition.

Frequently Asked Questions

How much was a French franc worth in today's terms?

Before the euro, the French franc was pegged to the ecu. In 2002, the fixed exchange rate was 6.55957 francs to 1 euro. So 1 franc was worth approximately 0.15 euro.

Why was the franc replaced by the euro?

The replacement was part of European economic integration, aiming to facilitate trade and strengthen monetary stability among European Union member states.

Can old franc banknotes still be exchanged?

No. The deadline to exchange franc banknotes and coins for euros at the Bank of France expired in 2012. They now only have collector value.