Monégasque franc

Monégasque franc
franc monégasque  (French)
1 Monaco franc 1978 coin obverseMonaco franc 1978 coin reverse
ISO 4217
Code MCF
Exponent 2
Denominations
Subunit
  1⁄100 centime
Symbol fr. or F
Coins 10, 20, 50 centimes, 1, 2, 5, 10, 20 francs
Demographics
User(s) None, previously:
 Monaco,
 France,
 Andorra
Issuance
Mint Monnaie de Paris
 Website www.monnaiedeparis.com
Valuation
Pegged with French franc at par
ERM
 Since N/A
 Fixed rate since 31 December 1998 1
 Replaced by €, non cash 1 January 1999
 Replaced by €, cash 1 January 2002
 € = 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 2002 (de facto, 1999 de jure), when it changed to the euro. 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. The official euro-to-franc exchange rate was MCF 6.55957 to EUR 1.

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

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  1⁄2 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

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.[1][2]

See also

References

  1. ↑ Linzmayer, Owen (2012). "Monaco". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  2. ↑ http://aes.iupui.edu/rwise/countries/monaco.html
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