Timeline

• xx.01.1726
• Royal decree [Édit de Marly] (undated) on the redefinition of the "Livre of Tours" and the introduction of two new base coins in gold and silver; effective 04.02.1726:
  - Silver: Thaler (Écu) of 5 Livres
  - Gold: Pistol (Louis d'or) of 20 Livres.
• 26.05.1726
• Ordinance [Arrêt de Versailles] on the revaluation of the "Livre of Tours" against gold and silver with unchanged gold-to-silver ratio of the coins; effective 27.05.1726:
  - Silver: Thaler (Écu) of 6 Livres
  - Gold: Pistol (Louis d'or) of 24 Livres.
• ??.02.1726
• Start of currency exchange:
  - ??.02.1726: Start of issuance of the new coins
  - 30.04.1726: Demonetization of the pre-reform coinage
  - 30.08.1726: Devaluation of the coinage in the standard of January 1726
  - 30.10.1726: Demonetization of the coinage in the standard of January 1726
• 30.10.1785
• Royal decree [Déclaration de Fontainebleau], called "Réforme Calonne" (after Finance Minister Alexandre de Calonne) on the reduction of the gold-to-silver ratio; effective 21.11.1785
• 31.12.1785
• Demonetization of the gold coins in the standard of May 1726
• 1793-1795
• Revolutionary period:
  - 01.08.1793: 1st Ordinance on weights and units; not implemented: Annex defined the monetary unit "Franc" as ¹⁄₁₀₀ "grave" of silver (11 deniers), whereas the "grave" should correspond to the weight of 1 dm³ of water (i.e. Franc = 9.167 grams fine silver = 2.034 French Livres)
  - 07.12.1793 [FR: 17 Frimaire II]: Ordinance on the decimalization of the monetary unit Livre; effective 21.04.1794 [FR:1 Germinal II]
  - 07.04.1795 [FR:18 Germinal III]: 2nd Ordinance on weights and units; not implemented: Art. 4, defines the monetary unit "Franc" as equal to the Livre of Tours, expressed in metrical units (i.e. Franc = 4.505 grams fine silver).

Valuation Regimes

• 1726-1795
• Metallic currency based on circulating gold and silver coins. Base weight is the Parisian Mark / 8 Onces / 8 Gros / 3 Deniers / 24 Grains at 244.752 grams.

Timeline

• 15.08.1795
• [FR:28 Thermidor III] Parlamentary decree on the introduction of the new currency unit and the issuance of silver and copper coins (defined in metrical weight units); effective 23.09.1795 [FR:01 Vendémiaire IV]:
  - A second decree of the same date defines coins of 10 grams gold 0.900 without value ratio to the silver coins; not implemented
• 23.09.1795
• Start of currency exchange:
  - 07.01.1795: Start of paper money (assignats) denominated in Franc (originally equal to the Livre]
  - 23.09.1795: Start of issuance of the new silver coins, the former gold and coins were not demonetized but circulated at a rate of 5¹⁄₁₆ French Livres = 5 French Francs
  - 20.08.1798 [FR:29 Vendémiaire VII] Decree on the gradual withdrawal of the former subsidiary coins
  - 06.05.1799 [FR:17 Floréal VII]: Ordinance, declares the accounting in Franc mandatory; effective 23.09.1799 [FR:01 Vendémiaire VIII].
• 28.03.1803
• [FR:07 Germinal XI] Currency law on the switch to the bimetallic standard with gold-to-silver ratio of 15.5; effective immediately
• 23.12.1865
• Foundation of the Latin Monetary Union (LMU) between France, Belgium, Italy and Switzerland, which was based on the bimetallic standard of the French Franc; ratification by the ordinance of 20.07.1866, effective 01.08.1866
• 15.09.1921
• Ordinance, authorizes the issuance coins in base metals by the French Chambers of Commerce (not the state); effective immediately
• 25.06.1928
• Law on currency stabilization and reintroduction of the gold standard (known as the "Franc Poincaré" after Raymond Poincaré, then finance minister); effective immediately
• June 1945
• Post-war currency exchange:
  - 04.06.1945: Start of issuance of new banknotes and exchange at a ratio of 1 : 1 (occupation currency at 1 German Mark = 20 French Francs)
  - Cash amounts exceeding 6'000 Francs were exchanged with a delay
  - 15.06.1945: End of exchange period and demonetization of the wartime currencies.

Valuation Regimes

• 1795-1803
• Metallic currency based on circulating silver coins, former gold coins without fixed rate against silver
• 1803-1914
• Metallic currency based on circulating gold and silver coins, bimetallic parity suspended on 05.08.1914
• 1914-1928
• Variable rate
• 1928-1940
• Fixed rate against gold without circulating gold coins
• 1940-1945
• Fixed rate against German Reichsmark (during occupation)
• 1945-1949
• Fixed rate against British Pound
• 1949-1958
• Fixed rate against US Dollar

Timeline

• 27.12.1958
• Law [No. 58-1341] on the currency reform; effective immediately.
• 27.12.1958
• Start of currency exchange:
  - 27.12.1958: Introduction of Franc (1958) as unit of account while retaining the previous banknotes and coins
  - 22.12.1959: Ordinance [No. 59-1450] on the issuance of new banknotes and coins (the previous ones were not demonetized); effective 01.01.1960
  - 09.11.1962: Ordinance [No. 62-1320] on the abolition of the "New" in the currency name (banknotes with this denomination were not demonetized); effective 01.01.1963

Valuation Regimes

• 1958-1971
• Fixed rate against gold without circulating gold coins
• 1971-1998
• Variable rate

Timeline

• 03.05.1998
• Decision of the European Council [CELEX 31998D0317] to admit 11 member states to the European Monetary Union; effective 01.01.1999
• 31.12.1998
• Ordinance of the European Council [CELEX 31998R2866], determines the irrevocable conversion rates for the 11 member countries; effective 01.01.1999
• 01.01.1999
• Start of currency exchange:
  - 01.01.1999: Introduction of the European Euro as a unit of account (while retaining the national banknotes and coins) at a rate to the French Franc of 1 : 6.557
  - 01.01.2002: Start of issuance of banknotes and coins denominated in Euro
  - 28.02.2002: Demonetization of the banknotes and coins in French Franc.