You probably have a jar of them somewhere. Or maybe your grandmother does. Those thin, silver-colored coins with the lady sowing seeds or the colorful banknotes featuring guys in powdered wigs. For centuries, if you wanted to buy a baguette in Paris or a bottle of wine in Bordeaux, you didn't reach for euros. You reached for the French franc.
It’s easy to think of the currency of France before euro as just some dead money. But honestly, for many French people, the franc wasn't just cash. It was an identity.
When the changeover happened in 2002, it wasn't just a swap. It was a breakup. People had to relearn the value of a coffee. They had to stop mental math that involved multiplying everything by 6.5. Even today, you’ll find older Parisians who still convert large prices back into "old francs"—a currency that technically died in 1960. Money is weird like that.
A Ransom, a King, and a Gold Coin
The franc didn't start as a boring piece of paper. It started as a literal king’s ransom.
In 1360, King John II (also known as John the Good) was captured by the English during the Battle of Poitiers. To get him back, France had to pay a massive sum. They minted a new gold coin to help cover the cost. On the coin, the king was depicted on horseback, appearing "free" or "frank" (franc in French).
The name stuck.
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For a while, the franc lived alongside the livre tournois. It wasn't always the top dog. In fact, it actually disappeared for over a hundred years when King Louis XIII decided he liked the "Louis d'or" better. But you can't keep a good currency down. The French Revolution brought it back with a vengeance in 1795. This time, it was decimal. Ten décimes to a franc. One hundred centimes to a franc. It was clean. It was logical. It was revolutionary.
The Era of the "New Franc" (1960–2002)
If you talk to someone who lived through the mid-20th century in France, they might mention "Old Francs" versus "New Francs."
This is where things get confusing for tourists and history buffs alike. By the late 1950s, inflation had turned the franc into something of a joke. You needed thousands of them to buy basic groceries.
In 1960, Charles de Gaulle decided enough was enough. He introduced the nouveau franc. Basically, they just chopped two zeros off the old currency. One New Franc was worth 100 Old Francs.
"It didn't make anyone richer, but it made the math a lot easier for the average baker."
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This "New Franc" is the currency of France before euro that most people remember. It’s the one that had the 100-franc note with Paul Cézanne on it. Or the 50-franc note featuring Antoine de Saint-Exupéry and the Little Prince. These weren't just bills; they were mini-galleries of French culture.
The Logistics of the Great Swap
The transition to the euro wasn't a "one day it’s here, one day it’s gone" situation. It was a slow, slightly painful process.
On January 1, 1999, the franc technically "died" as an independent currency on the financial markets. It became a sub-unit of the euro. But for the person on the street? Nothing changed for three years. You still used your francs to buy your morning croissant.
Then came January 1, 2002.
The "Big Bang."
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Suddenly, ATMs were spitting out euros. Shops were forced to give change in euros even if you paid in francs. For a brief window until February 17, 2002, both were legal tender. It was chaos. Cashiers had to keep two separate tills. Long lines formed at banks. People were literally dumping jars of centimes into Coinstar-style machines just to be done with it.
The exchange rate was fixed at 6.55957 francs to 1 euro. A weird, non-round number that haunted French households for a decade. People carried little plastic converter cards in their wallets. You'd see a price for a new car—say, 15,000 euros—and someone would whisper, "Mon Dieu, that's nearly 100,000 francs!"
Why the Franc Still Matters
You can't spend them anymore. The deadline to exchange franc banknotes at the Bank of France passed in 2012. Now, they are essentially souvenirs or collector's items.
But the currency of France before euro represents a period of French history that felt... distinct. The franc was part of the "Trente Glorieuses"—the thirty years of post-WWII economic boom. It was the money of the French New Wave cinema, the birth of the high-speed TGV trains, and the era when France was cementing its place as a modern powerhouse.
There’s a certain nostalgia for it. The coins felt heavier. The notes were larger and, frankly, much more beautiful than the somewhat generic architectural designs on euro notes.
Actionable Insights for Collectors and Travelers:
- Check the Flea Markets: If you’re in Paris, head to the Marché aux Puces de Saint-Ouen. You can find old "Semeuse" (Sower) silver coins for a few euros. They make better souvenirs than a plastic Eiffel Tower.
- Identify the Series: The last series of notes (the "Famous People" series) is the most recognizable. The 500-franc note with Pierre and Marie Curie is particularly prized by collectors for its design.
- Don't Try to Exchange Them: Banks won't take them. Neither will the central bank. If you find a stash in an old suitcase, they are worth exactly what a collector is willing to pay and nothing more at the grocery store.
- Learn the Slang: You might still hear the word balle used as slang for money. In the past, 100 balles meant 100 francs. Today, young people use it for euros, but the linguistic roots are firmly planted in the franc era.
The franc is gone, but it isn't forgotten. It’s tucked away in drawers, mentioned in old movies, and still used as a benchmark for "how things used to be." It served France for over 600 years. That's a pretty good run for a piece of paper.
To truly understand the value of these relics, your best move is to visit a local numismatic shop in any major French city. Look for a "Cabinet Numismatique." These experts can tell you if that crusty 5-franc coin you found is a common 1970s mintage or a rare 19th-century silver piece. Just don't expect to pay for your lunch with it.