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The Saint Pierre and Miquelon franc was the currency of
Before 1890, the
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 d'Outre-Mer'' 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 ''
Saint Pierre and Miquelon
Saint Pierre and Miquelon (), officially the Territorial Collectivity of Saint-Pierre and Miquelon (french: link=no, Collectivité territoriale de Saint-Pierre et Miquelon ), is a self-governing territorial overseas collectivity of France in t ...
during a short time.
History
Before 1890, the French franc
The franc (, ; sign: F or Fr), also commonly distinguished as the (FF), was a currency of France. 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. It w ...
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
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the l ...
s was 5.1826 francs = 1 dollar. After the franc left the gold standard, only the franc circulated.
During the Second World War
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposi ...
, a full set of banknotes was introduced for the islands. In 1945, Saint Pierre and Miquelon adopted a franc tied to the CFA franc
The CFA franc (french: franc CFA, , Franc of the Financial Community of Africa, originally Franc of the French Colonies in Africa, or colloquially ; abbreviation: F.CFA) is the name of two currencies, the West African CFA franc, used in eight We ...
, 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
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
replacing the franc in 2002.
Coins
Saint Pierre and Miquelon's only coins were aluminium 1 and 2 francs coins struck in 1948.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 d'Outre-Mer'' 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 (from la, centesimus) is French for "cent", and is used in English as the name of the fraction currency in several Francophone countries (including Switzerland, Algeria, Belgium, Morocco and France).
In France, the usage of ''centime' ...
s''.
References
* * Modern obsolete currencies Currencies of North America Economy of Saint Pierre and Miquelon History of Saint Pierre and Miquelon {{SaintPierreMiquelon-stub