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T
his book represents a serious attempt to apply American grading
standards to French coins, and assign realistic corresponding mar-
ket values. It is no secret that a great number of French coins are
of greater rarity in mint state than similar coins of other countries.
LE FRANC
endeavors to provide market prices for French coins in choice
mint state that were simply unavailable (when available at all) at the unreal-
istic levels listed in previous publication. It is hoped that the high prices listed
for French coins in choice uncirculated condition will inspire the domestic
French market to be more discerning in their grading. This book is an open
challenge to French numismatists for them to examine modern (say, coins
of Napoleon to date) coins with American eyes.
For years, many American collectors of French coins have baffled French
dealers with their seemingly arbitrary grading whims. The reason for this lies
not with any fault in the French, but rather with numismatics in the United
States. Very fewAmerican coins are of real absolute rarity. The vast American
collector market focuses, therefore, on quality. The large number of Amer-
ican coins minted permits Americans collectors to be very selective: they
are very demanding when it comes to grade of preservation. To call a coin
“nice uncirculated” isn’t enough. The American collector wants to know: not
just
how
nice, but
exactly
how nice. This has led to the numerical mint state
grading systemwhich has caused so much confusion in other countries. Many
French coins are so rare in high grade that not enough of them have been
on the market for there to be a set price structure. A coin described as “SUP
à FDC” could well be the finest anyone has seen in years of a given issue,
and therefore no one in France asks if it would be the equivalent of an Amer-
ican AU-58 or an American MS-65. The fact is, however, that it does matter.
The world is getting smaller, and contact among numismatists of all countries
will only increase. French coins are enormously popular in the United States
and Japan, as well as to a lesser degree in Germany and Switzerland. The
huge price swings inAmerican coins, depending on their grade, is practically
universally known. These price swings do not yet exist in the domestic market
for French coins. It is only a question of time before this situation changes.
ER I TAGE
Rare Coin Galleries, Inc.
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