During the french consulate, with Napoleon Bonaparte as first consul, France issued its first 40 francs gold coin in the years An 11 and An 12.
This page is to provide information about this coin and its varieties.
Similarities on all the coins:
-They are all minted under the mintmaster of Paris ( .A. ) : Charles-Pierre de l'Espine, Monnaie de Paris (1797-1821) : The cock symbol
-They are all engraved by Pierre-Joseph Tiolier, General coin engraver, Monnaie de Paris (1803-1815)
-They all carry the same portrait of Napoleon Bonaparte, first consul 1799-1803 (An 8 - An 12), identified with his last name and title: BONAPARTE PREMIER CONSUL"
Even though this coin was only issued these two years, a total of 7 different varieties exist. The varieties have different years, different grenetis (density of denticles/pearls along the rim), removal of the inner olive, removal of the point behind the cock. These varieties will be decribed below.
There was also made a test coin in An 11. Different design. More about that below,
Mynt: 40 Francs (Essai. A - Paris) (Frankrike(1793~1799 - First Republic) Col:FR-007813 🪙
These varieties are treated differently in the catalogues: Krause, Gadoury, and GCB's LeFranc.net 2023 edition.
Krause: 40 Francs - Napoleon I - France – Numista
Gadoury: Monnaies Françaises 2025 - Livres
Le Franc 2023: Pièce de monnaie 40 Francs BONAPARTE PREMIER CONSUL
Le Franc 2023: These distinctions were introduced in Le Franc X (2012)
An 11 is written with roman numerals as "AN XI", while An 12 is written with western arabic numerals "AN 12"
A. Grenetis is the number of denticles/pearls along the rim. Some variants have 100 on both sides, some have 150 on both sides, and one variant have a 150 on the obverse and 100 on the reverse.
B. The inner olive is just inside the wreath's right branch, along the radius going though .A.
C. The point behind the cock is missing on one variant from AN XI. This variant has currently no separate designation in any of the catalogues.
A. B and C. are easily identified as here on an example of F.536/5 (image from cgb.fr)
Article from Bulletin Numismatique no. 167 page 24-26, September 2017, regarding the competition of An 12, which produced the rarer variants F.536/3-5:
http:www.bulletin-numismatique.fr/bn/pdf/bn167.pdf
Among the variants of the 5 Francs Bonaparte Premier Consul, there is one that stands out. This is the coin referenced in the Franc Poche under number 301/10. Indeed, unlike the others, it has a fine denticle and especially a rim.
The latter is the sign of the use of a collar (virole) which, in addition to ensuring a perfect roundness of the coin by holding it during striking, allows for obtaining a rim or listel which protects the coin against wear and also facilitates stacking. This method, usually employed for striking medals, had been previously used in 1796 for striking the first 5 Francs "Union et Force" coins (mainly during Year 4 and very little during Year 5).
However, this manufacturing method was quickly abandoned for the silver 5 francs, and the reasons can be found in a document present in the Gengembre collection in the archives of the Monnaie de Paris (excerpt from file S2-1 published in BN°59).
"...This process cannot be reconciled with the speed and economy required by monetary work. Nevertheless, in Year 4 at the Paris Mint, an attempt was made to strike five-franc coins using a collar, following approximately the method adopted for the manufacture of medals. The setter had several collars; and an assistant ejected the coins as they were struck, using a small press fixed next to the coining press (balancier), and returned the empty collars to the setter. Approximately four thousand coins could be manufactured this way per day. But even if one had tolerated this slowness and the expense it would have entailed, the process in itself was flawed. The briskness with which the setter put on the collar and placed the blank (flan) and the upper die (coin supérieur) caused him to knock against the edges of the collar and the dies. These tempered steel pieces clashed, their corners, and especially those of the die collars, chipped, and the edge of the minted coins was disfigured by the imprint of the chipping. For the setter to accelerate his work, it was also necessary for the die collars to enter the collar freely; consequently, too much clearance was left between it and the dies; this resulted in a considerable and irregular burr around the coins; consequently, the blanks were kept too small; when randomly thrown into the collar, they were poorly centered; and the metal, as it was crushed, curled up and was polished against the sides on one side, while on the other, it could not reach them. Finally, when the coins came out of the collar, they were found to be dished, meaning they were warped into the shape of a cap, because, although the punch (tampon) that drove them out was almost as wide as the collar and was hollow underneath so as not to press on the middle of the coins, its edges soon became flattened, and the circumference on which it pressed the coins became progressively smaller than that of the edge adhering to the collar, where all the resistance occurred..."
On the 17th Floréal, Year XI (May 7, 1803), following the intervention of Bonaparte in person and the decision of Gaudin, a double monetary competition (one for the improvement of engraving and another for the improvement of coining) was opened. The government desired that "the new coins should offer proof of the degree of perfection the arts have achieved in France. The beauty of the coins is both a monument to the taste of a nation and a guarantee against the attempts of counterfeiters." It also wished that "the coining processes be made simpler, easier, faster, and without danger to the workers employed in this task."
The description of the program for the competition to improve coining was as follows (Moniteur, 13th Floréal, Year XI, n°223, pp 998-999):
"The Government's objective in this competition is to obtain the most perfect possible construction of coining presses (balanciers). The Mints proposing to compete must make themselves known, within ten days following the publication of the program, by registering their names and domicile with the secretariat of the mint administration.
The competition will close on the 15th Messidor.
Once this deadline is reached, those who have completed their work that they believe can be presented for the competition shall give written declaration of it to the same secretariat. A commission of nine members, three appointed by the minister, three by the first class of the Institute, and three by the competitors who have made the aforementioned declaration, will travel to the workshops of each competitor to conduct a preliminary examination of the coining presses proposed for the competition.
Those presses deemed ready to be subjected to the coining test will be immediately transported and installed at the Mint, under the supervision and direction of those who presented them; and at the Government's expense only for the aforementioned transportation and installation.
The competitors may strike either with a solid collar or a divided collar (virole brisée); the edge lettering, however, must always be engraved in relief.
The testing of the presses will be conducted, in the presence of the Commission and the ordinary coining officials, on the forty-franc gold coin and the 5-franc silver coin.
Two thousand gold coins and twenty thousand silver coins will be struck for each press. The commission will record the time taken to strike these coins, the accidents, and other causes of work interruption, which shall serve as the basis for its judgment. The mint administration will provide the necessary dies and blanks for these tests, observing the ordinary forms of issuance and accounting.
The mechanic whose coining press appears to combine the most advantages will receive a prize of ten thousand francs, independent of the value of the press and its accessories, which will remain with the mint administration and for which it will pay the price based on an appraisal by experts [...]."
Different artists submitted their candidacy for this competition. Among them were Brézin, Droz, Gatteaux, Mahaut, Mathieu, Tournu, Gengembre, Saulnier, Seignot, Frappier, Dubois, Dupeyrat, and Johanne.
Several preliminary meetings of the Commission were necessary to examine the perfected presses. But it was not until Frimaire, Year XII (November-December 1803) that a first filter was carried out: the systems of Saulnier, Gengembre, and Droz were retained.
In the Mint manufacturing register Series X Ms23, we find the issuances for the silver 5 Francs. Among these issuances, two are annotated with the mention "Contest Specimens." They date from the 18th & 19th Pluviôse, Year XII (February 8 and 9, 1804). They were, respectively, 21,298 and 20,974 copies, totaling 42,272 copies.
These are the strikes carried out to differentiate between the finalist competitors and better judge their mechanisms. It should be noted that these issuances had separate numbers from the other issuances. It remains to be found in the archives any official text that authorized the circulation of these contest specimens, even though it was not the engraving competition.
It is also necessary to carefully examine the edges of these coins to check if there are any traces among them of the use of a divided collar. One of the candidates, Droz, worked extensively on the divided collar, while Gengembre was a proponent of the solid collar. The competition rules authorized the use of both solid and divided collars but required that the edge marking be nonetheless incuse (engraved in relief). Thank you in advance for sending us photos of the edges of your copies!
The contest program also stipulated the striking of 2,000 copies of the 40 Francs for each competitor. Now, concerning the 40 Francs Year 12, strikes are observed that distinguish themselves from the others not by the presence of a rim but by a finer denticle.
(image of f.536/5)
Very partial rim
(image of f.536/3)
Very clear rim and finer denticle
It should be noted that it seems the collar was used for the 40 Francs as early as Year XI.
(image of f.536/1)
It is probable that the Year XII coins with the finer denticle and the well-formed rim correspond to the contest specimens. But unlike the 5 francs, there is no particular annotation in the manufacturing register and no renumbering of the issuances.
At the beginning of the month of Vendémiaire, Year XIII (September-October 1804), the commission finally finished its work. Following the jury's proposal and as a result of the competition for the improvement of coining, Gaudin sent, on the 13th Vendémiaire, Year XIII (October 5, 1804), an expedition of the imperial decree which allocated five thousand francs each to Gengembre and Saulnier and placed at the minister's disposal the designation of the mint workshops that were to manufacture the gold coins using this new mechanism.
The coining of gold using a collar, executed in the mints since Year XI and improved by the adoption of the mechanism of Gengembre & Saulnier, the contest winners, prompted the administration to suggest to Gaudin (Minister of Finance), on March 1, 1806, to also adopt the collar for silver as well as for any future copper coins. However, the bronze contained in the old presses was not sufficient to create the new presses. About 33 tons were missing. Upon Napoleon's return from Austerlitz, Gaudin, upon discovering that the army bulletins reported enormous captures of artillery from the enemy, obtained permission from the Emperor to keep about twenty cannons for the new presses. These new presses would then be called the Austerlitz presses!
The new strikes using a solid collar for silver would begin in 1807 in Paris, with the so-called transitional type for the 5 francs, and the types known as "tête de nègre" (negro head) for the subsidiary values. Striking with a solid collar was generalized to all provincial workshops starting in early 1808.
Philippe THÉRET
ADF 481
unionetforce@free.fr
Article from Bulletin Numismatique no. 22 page 7, June 2006, regarding the axis orientation of these coins:
http://www.bulletin-numismatique.fr/bn/pdf/bn022.pdf
Translation:
A Rare OA-Center Axis Information from Arnaud Brunel, who sends us a photo of a 40 francs AN XI (Year 11) coin with an oA-center axis at 10:30 (345 degrees). OA-center axes on gold coins from this period are relatively common. It's even observed on certain series (see the modern section of the cgb.fr store) that a perfect axis is what is rare. However, the oA-center axis is usually located between 5:30 and 6:30 (165 to 195 degrees), and very rarely more. An oA-center axis at 10:30 is truly rare. The habit of checking the coin's axis of rotation has not yet become ingrained, neither among professionals nor amateurs. Always check!
Interview with Philippe Théret - Thomas Numismatics
The 1803 tests of Napoleon I are shining examples of what I have just told you.
The Franc had already existed since 1796, but the monetary system was based on silver and bimetallism had not actually been implemented. When Napoleon consolidated his power, he wished to reform all this.
The Germinal law of March 28, 1803, confirms the establishment of bimetallism, by setting a fixed ratio of the value of silver against gold.
Napoleon I also ordered the minting of new gold coins with his portrait instead of the figure of the Republic (Hercules). The technique evolved with the use of a full ring (called full ferrule) in the minting process, which allows for the creation of perfectly round coins.
Five 40-franc gold tests were carried out that year before the promulgation of the Germinal Franc laws to validate Bonaparte’s aesthetic rendering of his engraved portrait, as well as the use of this new technique. One of these five coins was immediately destroyed, as a sample was always melted down to verify the exact composition and gold content. These four specimens will be the only ones to be marked with the year 11 in Arabic numerals. Indeed, Napoleon I demanded that the year rather be struck in Latin numerals XI on circulating coins, to avoid confusion with the year 2, which then referred to Robespierre’s Reign of Terror.
Article from Bulletin Numismatique no. 90 page 7, July 2011, regarding the occurence of the inner olive in An 11 and An 12: http://www.bulletin-numismatique.fr/bn/pdf/bn090.pdf
Translation:
Every numismatist, whether or not they are passionate about the "Union et Force" coinage, knows that one of the differences in the coin die lies in the presence or absence of acorns linked to the oak wreath. But can this difference in "fruit" exist on other coins? Well, yes! After an in-depth study of examples of the 40 Francs Bonaparte Premier Consul, a coin struck more than 200 years ago in AN XI (Year XI) with 226,115 examples, a difference in the olive appears within the olive wreath surrounding the value. This difference is more precisely located above the mint mark letter "A". Some examples have an interior olive, while others do not. Yes, according to the observations reported in the text, this olive variety also exists for the AN 12 (Year 12) coins. The author, Arnaud Brunel, notes that the presence or absence of the olive seems to be related to a "specific variety of the grènetis" (the beaded border): For examples with a grènetis 100/100 and 150/100, the olive appears to be present.
But, oh surprise! For the 150/150 variety, this olive is absent. "To your coin cabinets..."
Article from Bulletin Numismatique no. 227 page 26-28, February 2023, regarding the rartity of the different 40 franc coins minted during Napoleon's reign:
http://www.bulletin-numismatique.fr/bn/pdf/bn227.pdf
Translation:
The Rarest 40 Franc Coins from the Paris Mint under Napoleon I As a numismatist, I believe it is essential to know which coins in one's collection area are the rarest based on the year or the mint, and which types are the most diAicult to f ind; this is made possible through research. The interest in this approach is that if one of these coins appears at an auction, it is then possible to take a position. Otherwise, one simply risks missing a very rare coin that you will very probably never see again due to a lack of knowledge. One should not rely solely on the quantities struck. Although this information is very interesting, logically, the most beautiful existing examples correspond to the years with the largest strike. An example illustrating this is the 10 centimes Lindauer of 1914, struck at slightly less than 4,000 copies. At first glance, one might consider it very rare, but in reality, it is not that rare, as there are more than 40 examples graded SPL (Sheen/Superb) or FDC (Mint State) (starting from MS63). There are very probably other examples that have not been graded, which simply means that for every 100 examples struck, there is at least one example that is simply new today. However, this must be put into perspective because this coin is relatively recent, and if the quantity I just mentioned is so high, it is simply due to the fact that one or more intact rolls were recently found. Generally, one can say that for certain coins after 1900, rolls can still be found today. Obviously, this is not valid for all coins and is usually the case for coins with a very large strike. This situation does not occur with coins prior to 1900, or at least the further back in time one goes, the more pertinent this observation becomes. Years ago, I read an article by Mr. Prieur in which he explained that during a visit to a private individual, he saw that the person's children were playing with one franc coins of Napoleon I, which came from a roll found in the family attic; unfortunately, this scenario is practically improbable today. In summary, the coins found on the market today correspond to 90% or 95% of what is truly available. Large collections that have been dormant for decades are not numerous, and today, finding egregious rarities in exceptional qualities is highly improbable. The majority of uncommon or rare, high-quality coins are graded, because a coin with a high grade always sells better than the same un-graded coin. The big diAerence with articles published years ago in Numismatique et Change is the fact that at the time, although grading existed in the USA, it was not at all the case in France. Only researchers and great experts knew which coins were truly rare or very rare according to their quality. Having dispersed numerous important collections, experts like Mr. Bourgey or Mr. Vinchon had acquired the necessary knowledge to uncover hidden treasures! During the dispersal of King Farouk's collection in Cairo in February 1954, Mr. Bourgey was present at the sale, because at the time the Farouk collection was probably the most beautiful, and it was absolutely necessary to attend this sale because there were wonders! Today, everyone has access to the databases of grading houses PCGS and NGC. With this information, one can get a first idea of the relative rarity of coins according to their quality. However, one must be careful about this, as one finds coins with high grades that, in my opinion, do not deserve that grade because they have adjustment marks or are poorly struck. Based on the PCGS and NGC archives, I have recorded the number of examples starting from MS61, which is the grade from which I consider a coin to be SUP (Superb). I recall that grades MS63 and MS64 correspond to SPL (Sheen/Superb). I present the table corresponding to this research below: Paris Mint 40 Francs Coins (Napoleon I) from MS61: Table below
Notes: 1. Corresponds to the bare head type. 2. Corresponds to the laureate head type. 3. Strangely, the Paris mint did not strike 40-franc coins in 1810. Observations Based on these results, we can observe the following things: The most numerous quality coins are found for the largest strikes, which seems perfectly logical. The AN 14 strike, with over 120,000 examples and only one in MS61 and one in MS63, is a truly astonishing result. With only one example, the case of the year 1808 is also very particular. The very beautiful pieces from the years 1807 and 1809 are very rare, which is not surprising considering the strikes were very weak. With a total of almost three million coins struck, no FDC (Mint State) examples exist today. The case of AN 14 is very particular. In fact, AN 14 begins on September 23, 1805, and ends on December 31, 1805, given that the revolutionary calendar ends in 1805 to return to the Gregorian calendar starting on January 1, 1806. AN 14 therefore lasted a little over 3 months, and a strike of 120,821 examples does not seem coherent to me. Indeed, for the previous years, 250,000 examples were struck over 12 months, which leads me to believe that the figure corresponding to the AN 14 strike is incorrect and would therefore be much lower. This would explain the rarity of quality coins from that year. The 1807 bare-head strike is extremely rare in very fine quality. It is undoubtedly the rarest year of all. This type is known as transitional, and all 1807 strikes from Paris are rare or very rare. At the end of 1806, technical improvements were proposed and carried out at the Paris mint. A new type in diAerent values appeared, known as the transitional type. However, it was quickly abandoned the same year because, after numerous Napoleonic military victories, the Emperor's bare-head eAigy was replaced by the laureate head eAigy; this state of aAairs explains the rarity of the coins for both 1807 types. The 40-franc, 5-franc, and 2-franc strikes from the Paris mint are, without a doubt, the rarest values among all the Napoleonic strikes from that mint. Out of the twelve years, five are extremely diAicult to find, and only one collection can exist with superior quality examples—a real challenge for an amateur with significant means and a lot of patience. Now, by conducting research in recent auction catalogs, I have found the following examples: AN 13 appears several times, which is logical given that this coin is one of the most common. However, the two examples of the 1807 laureate head have already appeared for sale, and the realized prices reflect their rarity. It can be seen that the catalog values are completely detached from reality and must absolutely be revised upwards, because such a price diAerence is not acceptable. It is highly probable that these coins are quite common in average quality, which could distort the perception of rarity and therefore the corresponding value, but for the majority of them, they are very, very rare in very fine quality. Very few mints outside of Paris issued 40-franc coins. If we observe that the very fine coins from the Paris mint are rare or very rare for certain years, in the case of other mints, with strikes of 2,000, 5,000, or 10,000 examples, I let you guess what the situation is—it's simply a desert! For enthusiasts interested in the strikes of Napoleon I, I highly recommend the work by Stéphane Desrousseaux titled: La monnaie en circulation en France sous Napoléon (Money in circulation in France under Napoleon). Auction Results and Valuations: Table below
Article from Bulletin Numismatique no. 5 page 5, January 2005, regarding an anomaly found on the edge:
https://www.bulletin-numismatique.fr/bn/pdf/bn005.pdf
The Friends of the Franc Forum has often resounded with discussions about erroneous edges on five-franc coins, and even on two- or twenty-franc coins.
Our reader JPC has recently discovered a 40-franc coin from Year 12 with an edge bearing the inscription
*DIEU PROTEG A FRANCE". Since the Castaing machine was used to mark the edges of all coins, it was natural that the same causes would produce the same effects.
Article from Bulletin Numismatique no. 126 page 34-35, December 2013, regarding how Dupre lost his job, and why Tiolier replaced him:
https://www.bulletin-numismatique.fr/bn/pdf/bn126.pdf
Brief version: After Dupre after 12 years of success in the mint, he was verbally asked to prepare designs with 1st Consul Napoleons image. To mint a coin with an image of a real person had been during the republic a crime punishable by death and Dupre did not mint any coins, instead choosing to await a visit by higher authorities. To his bad luck, he fell ill with a bad case of "ophthalmos", and had to stay at home for 10 to 12 days. During his absence, Napoleon came to visit. Tiolier was prepared, showed off his work and then became the new Engraver General. His provisional design was used in An XI and 12, before being replaced the winning design of Droz in An 13. (See Bulletin Numismatique 18 for details on Droz winning)
Gregorian Date Revolutionary Date Event
17 March 1763 Pierre-Joseph Tiolier is born
11 July 1791 Augustin Dupré becomes Engraver General after winning a design competition
3 November 1795 12 Brumaire Year IV Martin-Michel-Charles Gaudin, 1st duc de Gaëte, becomes minister of Finance
14 December 1795 23 Frimaire year IV Pierre-Joseph Tiolier is appointed controller of coins at the Paris Mint
9 November 1799 18 Brumaire, Year VIII Coup of 18 Brumaire brings Napoleon to power as First Consul
28 March 1803 7 Germinal Year XI The law of 7 Germinal confirmed the franc, and its value in gold and silver
1 April 1803 11 Germinal year XI Pierre-Joseph Tiolier is appointed Engraver General, replacing Dupré
7 May 1803 17th Floréal Year XI The double competition; improvement of engraving (5fr/40fr) and improvement of coining, is opened, following intervention of Bonaparte and decision by Gaudin.
Nov-Dec 1803 Frimaire Year XII Finalists of the coining competition are chosen: Saulnier/Gengembre, and Droz
28 November 1803 6 Frimaire, Year XII After Auguste, Droz, Galle, Tiolier and Vasselon submitted designs for the 40 francs engraving competition, Droz was ultimately selected as winner
Sept-Oct 1804 Vendémiaire, Year XIII Saulnier/Gengembre win the coining competition, each receiving 5000 francs
Text regarding the varieties with finer grenetis (150) from the Book Le Franc 2019
(Translation of text p226-227)
It is probable that these coins correspond to the competition trials. However, unlike the 5-Franc pieces, there is no specific entry in the production register and no renumbering of the issues.
The main improvements featured in the Gengembre coining press consist of the use of a swivel joint placed between the lower die and the base block to equalize the pressure on the different parts of the planchet (blank) being struck, and surrounding the planchet with a solid steel collar to bring all the coins to exactly the same diameter. The highlight is the addition of a mechanical hand or 'posoir' (feeder) which places the planchet to be struck between the two dies. Finally, means are employed to release the piece that has just been struck from the collar. It is raised by the lower die to free it from the collar to which it adheres due to the engraving. The lower die is then lowered so that another planchet can be placed in the collar. With this perfected press, it is possible, in a continuous 11-hour workday, by having 12 to 14 men operate the bar, to strike 20,000 5-Franc pieces. Six to eight men can strike 6,000 half-Franc pieces per hour, or nearly two strikes per second.
The Gengembre press works quickly but nevertheless has drawbacks. One of its defects is that the dies are liable to clash and be put out of service if the 'iron hand' of the feeder does not always place a planchet between them. The percussion shakes the assembly, destroys the dies, and exhausts the workers. The motive power (the men), becoming fatigued by the continuity of effort, makes the results increasingly defective as the work continues.
At the beginning of the month of Vendémiaire Year 13 (September-October 1804), the commission finally completed its work. Based on the jury's proposal following the competition for the improvement of coinage, Gaudin sent, on 13 Vendémiaire Year 13 (October 5, 1804), a copy of the imperial decree. This decree allocated 5,000 francs each to Gengembre and Saulnier and placed at the Minister's disposal the designation of the mints that were to produce gold coins using this new mechanism.
The minting of gold using a collar, carried out in the mints since Year 11 and improved by the adoption of Gengembre’s mechanism, prompted the administration to suggest to Gaudin (Minister of Finance), on March 1, 1806, that the collar also be adopted for silver, as well as for any future copper coinage.
If the government were to adopt this proposal, the bronze contained in the old presses would not be sufficient for the manufacture of the new presses. Approximately 33 tons would be missing. Upon Napoleon's return from Austerlitz, Gaudin—discovering that the army bulletins detailed the enormous captures of enemy artillery—suggested to the Emperor that he grant him about twenty cannons for the new presses. Here is how Gaudin, in the supplement to his memoirs [Gaudin, 1834], transcribed the conversation he had with Napoleon:
—Twenty cannons! And for what use? Do you have, he added with a smile, a desire to make war against me?
—Oh, certainly not, I said to him, the sides would not be equal; I would only like to generalize the use of the new coining press that is working so well for us here, and whose advantages Your Majesty is aware of. It is, as You know, made entirely of copper [bronze], and my budget is not rich enough to bear such an expense. Every difficulty would disappear if Your Majesty would be so kind as to grant my plea.
—Well! But, Minister, twenty cannons—that is a lot!
—I estimate that it will take no less. My plan, I continued, is to call my new presses 'The Austerlitzes' and to encircle them with a collar on which one will read: Copper taken from the enemy at Austerlitz.
—Ah! the Emperor said to me, in the most amiable tone, you have caught me by my vanity! Very well, you shall have your cannons. Minister of War! he then said to General Berthier, who was present along with my other colleagues, you will give orders so that twenty cannons, out of service, are placed at the disposal of the Minister of Finance."
The first full-collar strikes for silver began in 1807 in Paris, with the so-called 'transitional' type for the 5-Franc piece, and the so-called 'negro head' (tête de nègre) types for the fractional denominations. Full-collar strikes were generalized across all mints starting in early 1808.