Finding French 20-Franc Gold Coins in the Wild: A Cherry Picker’s Guide

The Allure of French 20-Franc Gold Coins

You don’t always need a dealer to find this. Here is what to look for when searching through circulation or bulk lots.

French 20-franc gold coins represent one of the most fascinating and accessible areas of world gold coin collecting. These small but historically significant pieces span nearly a century of French history, from the tumultuous First Republic through the Napoleonic era and into the Third Republic. For the roll hunter and cherry picker, these coins occasionally surface in unexpected places – estate sales, bank rolls, and bulk lots where their true value often goes unrecognized by casual sellers.

Historical Significance

The 20-franc denomination was introduced during the French Revolution and became one of the most widely circulated gold coins in Europe. Known as “Napoleons” after the famous emperor who standardized their production, these coins contain approximately 0.1867 troy ounces of pure gold and measure 21mm in diameter.

The historical periods represented by these coins include:

• First Republic (1795-1804)
• First Empire under Napoleon I (1804-1814)
• First Restoration (1814-1815)
• Hundred Days (March-July 1815)
• Second Restoration (1815-1830)
• July Monarchy (1830-1848)
• Second Republic (1848-1852)
• Second Empire (1852-1870)
• Third Republic (1870-1898)

Identifying Key Markers

When hunting through bulk lots or estate sales, several key markers can help identify valuable specimens:

Edge Lettering

Most 20-franc gold coins feature edge lettering that reads “DIEU PROTEGE LA FRANCE” (God Protects France). This distinctive feature is often overlooked by casual sellers but is crucial for authentication.

Mint Marks

French coins bear various mint marks indicating their place of origin. Common marks include “A” for Paris, “W” for Lille, and others for provincial mints. Some mint marks command premiums, particularly for scarcer issues.

Date Ranges and Varieties

The Rooster design (Marianne-Coq) was minted from 1899 to 1914, but restrikes were produced later, primarily from 1921 onward. Pre-1907 dates are generally considered original issues, while later dates may be restrikes. The “Coq-Pinay” debate centers on distinguishing original strikes from later restrikes, with documentation available in French numismatic resources.

Weight and Dimensions

Authentic 20-franc gold coins weigh approximately 6.45 grams and measure 21mm in diameter. Variations exist between different reigns and periods, with some Napoleon I coins weighing slightly less at 6.39 grams.

Spotting the Rare and Valuable

Certain periods and varieties are particularly scarce and valuable:

The Hundred Days

Coins from Napoleon’s brief return to power in 1815 (the Hundred Days) are exceptionally rare and command significant premiums. These coins feature Napoleon’s portrait and are highly sought after by collectors of Napoleonic memorabilia.

First Republic Issues

The earliest 20-franc coins from the First Republic, particularly those dated 1795-1803, are rare and valuable. The 1793 issue, commemorating the establishment of the Republic, is especially prized.

Second Republic Issues

Coins from the Second Republic (1848-1852) feature the word “REPUBlique” and are less common than later issues. The transition period between the Second Republic and Second Empire also produced interesting varieties.

Condition Considerations

While circulated examples are common and affordable, higher-grade specimens command substantial premiums. Coins in About Uncirculated (AU) to Mint State (MS) condition, particularly from scarcer periods, can be worth many times their gold content.

Value Guide

Values for French 20-franc gold coins vary significantly based on date, condition, and rarity:

Common Dates

Rooster issues from the early 20th century in circulated condition typically trade at 5-15% above gold spot price. Common Napoleon I issues in similar condition may trade at 10-20% above spot.

Scarce Dates

Coins from the Hundred Days period can command $1,000-$5,000 or more, depending on condition. First Republic issues in decent condition often start around $2,000-$3,000.

High-Grade Specimens

Coins in MS-60 or better condition from any period command significant premiums. Common dates in MS-60 might trade at 50-100% above spot, while scarcer dates in similar condition can be worth many times their gold content.

Where to Find Them

For the dedicated roll hunter and cherry picker, several venues offer opportunities to find these coins:

Estate Sales

French 20-franc gold coins often appear in estate sales, particularly those of individuals with European connections. Sellers may not recognize their numismatic value, offering them at or near melt value.

Bank Rolls

While less common today, foreign coin rolls occasionally contain gold pieces. Some collectors report finding French gold in mixed foreign coin lots from banks.

Online Auctions

Online auction sites and marketplaces occasionally feature lots containing French gold coins. Careful research and authentication are essential when purchasing online.

Local Coin Shops

Many coin shops have “junk silver” or foreign coin boxes where gold pieces occasionally surface. Building relationships with shop owners can lead to opportunities to examine bulk lots before they’re sorted.

Authentication Tips

When examining potential finds, consider these authentication tips:

• Check weight and dimensions against known specifications
• Examine edge lettering for clarity and completeness
• Verify mint marks and their appropriate placement
• Look for signs of casting or tooling that might indicate counterfeits
• Compare details with reference images from reliable sources

Building a Collection

Many collectors aim to build type sets representing different historical periods. A comprehensive collection might include:

• First Republic issue (Napoleon as First Consul)
• First Empire issue (Napoleon I)
• First Restoration issue
• Hundred Days issue
• Second Restoration issue
• July Monarchy issue
• Second Republic issue
• Second Empire issue
• Third Republic Rooster issue

Some collectors expand to 13 coins to include all major varieties and mint marks.

Market Considerations

Interestingly, prices for French 20-franc gold coins can vary significantly between markets. Some collectors report finding better prices in the United States compared to France, possibly due to lower local demand. However, prices fluctuate with gold markets and collector interest.

Conclusion

French 20-franc gold coins offer an accessible entry point into world gold coin collecting while providing rich historical connections spanning revolutionary France through the early 20th century. For the patient roll hunter and cherry picker, these coins occasionally surface in unexpected places, offering the thrill of discovery and the potential for significant value. Whether building a comprehensive type set or simply appreciating individual pieces, these “Napoleons” continue to captivate collectors with their beauty, history, and enduring value.

The key to successful collecting lies in knowledge, patience, and careful authentication. By understanding the historical context, recognizing key markers, and knowing where to look, collectors can build meaningful collections while potentially uncovering hidden treasures in the most unexpected places.

Related Resources

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