Monégasque franc

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Monégasque franc
franc monégasque  (French)
1FrancMonaco1978face.jpg 1FrancMonaco1978pile.jpg
1 Monaco franc 1978 coin obverseMonaco franc 1978 coin reverse
ISO 4217
CodeMCF
Exponent2
Denominations
Subunit
 ​1100centime
Symbolfr. or F
Coins10, 20, 50 centimes, 1, 2, 5, 10, 20 francs
Demographics
User(s)None, previously:
 Monaco,
 France,
 Andorra
Issuance
MintMonnaie de Paris
 Websitewww.monnaiedeparis.com
Valuation
Pegged withFrench franc at par
ERM
 SinceN/A
 Fixed rate since28 February 1995 1
=6.55957 MCF
This infobox shows the latest status before this currency was rendered obsolete.
1 indirectly (1:1 peg to FRF)

The franc (ISO 4217: MCF) was the official currency of the Principality of Monaco until 1995 (de facto, 1996 de jure), when it changed to the French franc.[1] The franc was subdivided into 100 centimes or 10 décimes; the Monégasque franc circulated alongside the French franc with the same value. Like the French franc, the Monégasque franc was revalued in 1960 at a rate of 100 old francs = 1 new franc;[2] the official euro-to-franc exchange rate was MCF 6.55957 to EUR 1.[3]

Today, Monégasque coins have only numismatic value, including the fleurs de coins, or proof-like coins; the period for exchange of the coins for euros has expired.

The Monégasque franc was legal tender in Monaco, France and Andorra.

Coins[edit]

Monaco's first decimal coins were issued in 1837 and 1838, in denominations of 5 centimes, 1 decime and 5 francs; the 5 centimes and 1 decime were minted in both copper and brass and were the same size as the earlier French coins (France was not minting these denominations at the time) whilst the 5 francs matched the French coin. No further issues were made until 1882, from when gold 100 francs coins were issued until 1904.

Between 1924 and 1926, aluminium-bronze 50 centimes, 1 and 2 francs were issued of the same size as the French coins. In 1943, aluminium 1 and 2 francs were introduced followed by aluminium-bronze versions in 1945, alongside aluminium 5 francs. In 1946, cupronickel 10 francs were introduced, followed by 20 francs in 1947, a coin to which there was no corresponding French coin. In 1950, aluminium-bronze 10, 20 and 50 francs and cupro-nickel 100 francs were issued, with the size of the 100 francs reduced to match the French coin in 1956.

When the franc was revalued in 1960, Monaco issued nickel 1 franc and silver 5 francs. In 1962, aluminium-bronze 10, 20 and 50 centimes coins were added, followed by nickel ​12 franc coins in 1965, nickel-clad cupronickel 5 francs in 1971, nickel-brass 10 francs in 1974, stainless steel 1 centime and aluminium-bronze 5 centimes in 1976, bi-metallic 10 francs in 1989, and tri-metallic 20 francs 1992, respectively. All of these coins matched the sizes and compositions of corresponding French coins.

Banknotes[edit]

The only Monégasque banknotes are dated 20 MARS 1920. There was an initial emergency issuance of 25- and 50-centime and 1-franc notes on 28 April 1920, followed by a second issued of 25-centime and 1-franc notes with different color schemes; the violet 25-centime notes are available with and without embossing, which was used to validate the notes, but the process was soon discontinued as a cost-cutting measure. The embossed notes have a crowned shield with diamond pattern at center, encircled by the text Principauté de Monaco, and are available with circles of two different diameters.[4][5]

See also[edit]

References[edit]

  1. ^ "Monaco Euro Coins". Eurocoins.co.uk. 1 January 2002. Retrieved 11 May 2017.
  2. ^ Ordonnance n°58-1341 du 27 décembre 1958 NOUVEAU FRANC
  3. ^ "Conversion from Franc to Euro". xe.com. 11 May 2017. Retrieved 11 May 2017.
  4. ^ Linzmayer, Owen (2012). "Monaco". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  5. ^ "Archived copy". Archived from the original on 2011-07-25. Retrieved 2007-03-07.CS1 maint: Archived copy as title (link)