Smart Buying Guide: How to Buy Collecting French 20-franc gold coins Without Getting Ripped Off

Historical Significance

French 20-franc gold coins represent one of the most fascinating chapters in European monetary history, spanning revolutionary periods, imperial ambitions, and republican ideals. These coins circulated widely throughout Europe and even reached the Americas, making them both historically significant and widely collected.

The series includes coins from multiple political regimes: the First Republic (1792-1804), First Empire under Napoleon I (1804-1814), various restorations, the July Monarchy, Second Republic, Second Empire, and Third Republic. Each period produced distinctive designs that reflect the political and artistic sensibilities of their time, offering collectors a tangible connection to pivotal moments in European history.

Where to Buy French 20-Franc Gold Coins

Finding reputable sources for French 20-franc gold coins requires knowing where to look and what to expect. Based on collector experiences, here are the best options:

• European Dealers: French coin dealers often offer the widest selection and most competitive pricing. As one collector noted, “It was not unusual 30 years ago to be able to go into French banks and buy ‘Napoleons’ at a small percentage over spot value.” While bank sales are less common now, specialized dealers remain excellent sources.
• American Dealers: Surprisingly, U.S. dealers often offer better prices than their French counterparts. One collector observed that “prices for these coins are much lower in the U.S. Maybe because there is much lower demand on this side of the ocean.” This price differential can work to American collectors’ advantage.
• Online Marketplaces: Major auction sites and specialized numismatic platforms provide access to a global market. Look for sellers with strong feedback ratings and return policies.
• Local Coin Shops: As one collector discovered, local shops can yield unexpected treasures. “It was a lucky purchase from a local coin shop: lucky both in terms of pricing (summer 2024, €550) and in terms of eye appeal.”

Red Flags to Watch For

When purchasing French 20-franc gold coins, several warning signs should prompt caution:

• Restrikes: Many 20-franc “Rooster” coins dated 1907-1914 are actually restrikes produced decades later. As one collector explained, “Roosters were minted from 1899 to 1914, but some if not all of those minted from 1907 to 1914 are restrikes. Despite the date imprinted on the coin, the restrikes were struck many years later, around the 1950s.”
• Misrepresented Dates: Be particularly cautious with coins from transitional periods. The Hundred Days period (Napoleon’s brief return in 1815) produces especially valuable coins that are sometimes misrepresented.
• Grading Inconsistencies: When buying slabbed coins, be aware that grading standards can vary. One collector noted disappointment with professional photography that “missed the original color entirely and made it look soooo yellow, where in fact its true color is much more orange gold.”
• Price Too Good to Be True: While some dealers offer coins at only 2% above spot price, extremely low prices often indicate problems with authenticity or condition.

Negotiating Tips

Successful negotiation for French 20-franc gold coins requires knowledge and strategy:

• Know the Market: Research current gold prices and typical premiums for specific dates and conditions. As one collector found, coins can be available “for as little as 2% above the spot price of gold” in BU condition.
• Buy in Bulk: Dealers are often more flexible on pricing when selling multiple coins. Consider building your collection systematically rather than purchasing coins sporadically.
• Time Your Purchases: Gold price fluctuations affect coin premiums. When gold prices are high, percentage premiums may decrease, creating buying opportunities.
• Build Relationships: Establishing rapport with dealers can lead to better pricing and first access to desirable coins. One collector’s “lucky purchase” came from a local shop, suggesting the value of regular visits and relationship-building.

Raw vs. Slabbed: Making the Right Choice

The decision between raw and slabbed French 20-franc gold coins involves several considerations:

Advantages of Raw Coins

• Lower Cost: Raw coins typically sell for less than their slabbed counterparts, allowing collectors to acquire more coins for their budget.
• Historical Appeal: Many collectors appreciate handling coins that have circulated through history without modern encapsulation.
• Edge Examination: For French 20-franc coins, examining the edge is crucial as it often contains important inscriptions like “DIEU PROTEGE LA FRANCE” or “LIBERTE EGALITE FRATERNITE.” One collector noted, “I think you’d want a slab that shows the edges” if sending coins for grading.

Advantages of Slabbed Coins

• Authentication: Third-party grading provides assurance of authenticity, particularly important for high-value dates.
• Protection: Encapsulation safeguards coins from environmental damage and improper handling.
• Easier Resale: Slabbed coins often command higher prices and sell more quickly in the secondary market.
• Accurate Grading: Professional grading helps ensure you’re getting the condition you’re paying for, though one collector noted that “grading standards can vary.”

Recommendations by Collection Type

For type collectors building a representative set, a mix of raw and slabbed coins often makes sense. Focus on slabbed examples for the most valuable dates (like the Hundred Days coin) while saving money with raw coins for more common dates.

For investors, slabbed coins in higher grades (MS60 and above) typically offer better long-term value retention, though the premium over raw coins must be justified by the coin’s rarity and condition.

Building Your Collection Strategically

Based on collector experiences, building a comprehensive collection of French 20-franc gold coins requires patience and strategy:

• Set Realistic Goals: One collector initially planned for 9 coins but expanded to 13 to capture all major varieties. “Using photos from various websites, I mocked up an image of the set that I hope to complete.”
• Condition Targets: Targeting XF to AU condition helps balance affordability with aesthetic appeal. “I decided to target coins in XF to AU condition, to make them affordable for me.”
• Pricing Reality: Be prepared for price increases. “At that time, gold was about $3500 per ounce. You know where it is now. For the time being, I am priced out. Building this collection might be a long haul.”
• Research Thoroughly: Understanding the historical context helps identify valuable dates. The Hundred Days coin, for instance, “is indeed pricey” and requires careful authentication.

Authentication and Verification

Proper authentication is crucial, especially for valuable dates:

• Edge Lettering: French 20-franc coins often have important inscriptions on the edge. One collector emphasized the importance of seeing the edge, particularly for coins with “liberté, egalité, fraternité” lettering.
• Mint Marks: Different mints produced these coins, and mint marks can significantly affect value. Research the various mint marks and their relative scarcity.
• Weight and Dimensions: Authentic French 20-franc gold coins should measure approximately 21.0 mm in diameter and weigh between 6.39-6.45 grams, depending on the specific issue.
• Design Details: Familiarize yourself with the specific design elements of each period, including portrait styles, reverse designs, and lettering styles.

Conclusion

Collecting French 20-franc gold coins offers both historical enrichment and potential investment value. Success requires understanding the market, knowing where to buy, recognizing potential pitfalls, and making informed decisions about slabbed versus raw coins.

The most successful collectors approach this hobby with patience, thorough research, and a clear strategy. Whether you’re building a type set representing different political regimes or focusing on specific periods, the French 20-franc gold series offers remarkable diversity and historical significance.

Remember that prices can vary significantly between markets, with U.S. collectors often finding better deals than their European counterparts. Take time to build relationships with reputable dealers, verify authenticity carefully, and focus on acquiring coins that genuinely appeal to you both historically and aesthetically.

With careful planning and informed purchasing decisions, building a collection of French 20-franc gold coins can be both rewarding and financially sound. The key is to start with knowledge, proceed with patience, and enjoy the historical journey these remarkable coins represent.

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