Franc Pubblico Deposited
Originally a French silver coin of nearly the size of the Ecu or Crown, the latter coin superseding it in 1642. The Franc was created under Henri III by a decree dated March 31, 1575, which established its value at twenty Sols. The first Revolution created a new silver coin on which the name Franc was bestowed. By an ordinance of March 28, 1803 (7 Germinal, an. xi), it was decreed that the Franc was to be nine hundred one thousandths of pure silver, and that gold pieces of twenty and forty Francs were to be struck. At the same time the ratio of silver and gold was made at fifteen and one half to one, and the decimal system was introduced.
The Franc, divided into one hundred Centimes, has been adopted by the French Colonies, Belgium (see Frank), Luxemburg, Monaco, Switzerland, etc.
The term also occurs on the gold issues for Sweden in 1868 and on the Austrian gold coins for Hungary in 1880. In both instances and attempt was made to harmonize with the French decimal system but was abandoned.
Beginning in 1904 the monetary system of the Danish West Indies was changed and fifty Franc or ten Daler pieces and twenty Franc or four Daler pieces in gold were issued, as well as two and one Francs or forty and twenty Cents in silver.
- Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)