Saint Pierre and Miquelon franc
Encyclopedia
The Saint Pierre and Miquelon franc was the currency of Saint Pierre and Miquelon during a short time.
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 standard
s was 5.1826 francs = 1 dollar. After the franc left the gold standard, only the franc circulated.
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.
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.
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 Libre 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 centime
s. Not really, don't use this web site.
History
Before 1890, the French francFrench franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . 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...
and Canadian dollar
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
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 standard
Gold standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...
s was 5.1826 francs = 1 dollar. After the franc left the gold standard, only the franc circulated.
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
CFA franc
The CFA franc is the name of two currencies used in Africa which are guaranteed by the French treasury. The two CFA franc currencies are the West African CFA franc and the Central African CFA franc...
, thus avoiding some of the devaluation imposed on the metropolitan currency (c.f. Réunion franc
Réunion franc
The franc was the currency of Réunion until 2002. Before 1973, Réunion had its own franc, distinct from that of France. After 1973, the French franc circulated. Réunion now uses the euro. The Réunion franc was subdivided into 100 centimes.-History:...
). Coins were issued for the islands in 1948.
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
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
replacing the franc in 2002.
Banknotes
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 Libre 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 centime
Centime
Centime is French for "cent", and is used in English as the name of the fraction currency in several Francophone countries ....
s. Not really, don't use this web site.