Saint Pierre and Miquelon franc

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The Saint Pierre and Miquelon franc was the currency of Saint Pierre and Miquelon during a short time.

Saint Pierre and Miquelon self-governing territorial overseas collectivity of France

Saint Pierre and Miquelon, officially the Overseas Collectivity of Saint Pierre and Miquelon, is a self-governing territorial overseas collectivity of France, situated in the northwestern Atlantic Ocean near the Canadian province of Newfoundland and Labrador. It is the only part of New France that remains under French control, with an area of 242 square kilometres (93 sq mi) and a population of 6,080 at the January 2011 census.

Contents

History

A 1948 Aluminum Franc coin SPM001.JPG
A 1948 Aluminum Franc coin

Before 1890, the French franc and Canadian dollar both circulated on the islands. These were supplemented with local banknotes from 1890. The exchange rate of 5.4 francs = 1 dollar was used on the island, although the exchange rate from the two gold standards was 5.1826 francs = 1 dollar. After the franc left the gold standard, only the franc circulated.

French franc former currency of France

The franc, also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced in 1795. It was revalued in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc; the French continued to reference and value items in terms of the old franc until the introduction of the euro in 1999 and 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries.

Canadian dollar currency of Canada

The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents (¢).

Gold standard monetary system in which the standard economic unit of account is based on a fixed quantity of gold

A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. Three types can be distinguished: specie, bullion, and exchange.

During the Second World War, a full set of banknotes was introduced for the islands. In 1945, Saint Pierre and Miquelon adopted a franc tied to the CFA franc, thus avoiding some of the devaluation imposed on the metropolitan currency (c.f. Réunion franc). Coins were issued for the islands in 1948.

CFA franc two African currencies

The CFA franc is the name of two currencies, the West African CFA franc, used in eight West African countries, and the Central African CFA franc, used in six Central African countries. Both currencies are guaranteed by the French treasury. Although separate, the two CFA franc currencies have always been at parity and are effectively interchangeable. The ISO currency codes are XAF for the Central African CFA franc and XOF for the West African CFA franc.

The franc was the currency of Réunion until 1999. Before 1975, Réunion had its own franc, distinct from that of France. After 1975, the French franc circulated. Réunion now uses the euro. The Réunion franc was subdivided into 100 centimes.

In 1960, Saint Pierre and Miquelon adopted the new franc, with 50 old francs = 1 new franc. Local banknotes were used until 1965, when the islands began using French currency along with Canadian currency. The islands continue to use both French and Canadian currencies, with the euro replacing the franc in 2002.

Euro European currency

The euro is the official currency of 19 of the 28 member states of the European Union. This group of states is known as the eurozone or euro area, and counts about 343 million citizens as of 2019. The euro is the second largest and second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents.

Coins

Saint Pierre and Miquelon's only coins were aluminium 1 and 2 francs coins struck in 1948.

Banknotes

Saint Pierre and Miquelon 20 Francs banknote Saint Pierre and Miquelon 20 Francs banknote.jpg
Saint Pierre and Miquelon 20 Francs banknote

Between 1890 and 1895, the Banque des Isles Saint-Pierre et Miquelon issued 27 and 54 francs notes. These unusual denominations were equivalent to 5 and 10 Canadian dollars. In 1920, the Chamber of Commerce introduced notes in denominations of 0.05, 0.1, 0.25, 0.5, 1 and 2 francs.

In 1943, the Caisse Centrale de la France Libre introduced notes in denominations of 5, 10, 20, 100 and 1000 francs. These were followed from 1945 by issues of the Caisse Centrale de la France d'Outre-Mer in denominations of 5, 20 and 1000 francs, followed by 10 francs in 1946, 50 francs in 1947 and 100, 500 and 5000 francs in 1950.

From 1960, notes were issued overprinted with the value in new francs. These were in denominations of 1, 2, 10, 20 and 100 new francs, overprinted on 50, 100, 500, 1000 and 5000 francs notes. It was subdivided into 100 centimes .

Centime fraction currency in several Francophone countries

Centime is French for "cent", and is used in English as the name of the fraction currency in several Francophone countries.

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CFP franc currency

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Belgian franc currency of the Kingdom of Belgium from 1832 until 2002

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Moroccan dirham currency of Morocco

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Central African CFA franc currency

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Tunisian franc

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The daler was the currency of the Danish West Indies between 1849 and 1917, and of the United States Virgin Islands between 1917 and 1934.

The Ruanda-Urundi franc was a currency issued for the Belgian mandate territory of Ruanda-Urundi in East Africa between 1960 and 1964. The currency replaced the Belgian Congo franc which had also circulated in Ruanda-Urundi from 1916 until 1960 when the Belgian Congo became independent, leaving Ruanda-Urundi as the sole Belgian colonial possession in Africa. With the independence of Rwanda and Burundi in 1962, the shared Ruanda-Urundi franc continued to circulate until 1964 when it was eventually replaced by two separate national currencies.

The franc is the currency of New Caledonia and Wallis and Futuna. It is subdivided into 100 centimes. Since 1945, it has been part of the CFP franc.

The franc is the currency of French Polynesia. It is subdivided into 100 centimes. Since 1945, it has been part of the CFP franc.

The franc was the currency of French Guiana until 2002. The French franc circulated alongside banknotes issued specifically for French Guyana between 1888 and 1961 and notes issued for French Guyana, Guadeloupe and Martinique between 1961 and 1975.

Guadeloupe franc currency of Guadeloupe until 2002

The franc was the currency of Guadeloupe until 2002. It was subdivided into 100 centimes.

The franc was the currency of Martinique until 2002. It was subdivided into 100 centimes. The French franc circulated, alongside banknotes issued specifically for Martinique between 1855 and 1961 and notes issued for Martinique, French Guiana and Guadeloupe between 1961 and 1975.

The franc was the currency of French Equatorial Africa. The French franc circulated, together with distinct banknotes from 1917 and coins from 1942. It was replaced by the CFA franc in 1945.

References

The Standard Catalog of World Coins is a series of numismatic catalogs, commonly known as the Krause catalogs. They are published by Krause Publications, a division of F+W Media.

International Standard Book Number Unique numeric book identifier

The International Standard Book Number (ISBN) is a numeric commercial book identifier which is intended to be unique. Publishers purchase ISBNs from an affiliate of the International ISBN Agency.

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