French Indochina Piastre Coins: History & Design (1885-1947)

Explore French Indochina Piastre Coins: History & Design (1885-1947), understanding their profound history, unique design (including Marianne and reflecting local motifs), changing compositions, and pivotal role in colonial Southeast Asia. These coins, minted from 1885 to 1947, served as key insights into the economic, social, and political dynamics of French colonial rule in a federation that comprised what is now Vietnam, Laos, and Cambodia.

This article will meticulously explore the various series of these French Indochina piastre coins, specifically focusing on issues dated 1885-1895, 1895-1928, 1931, and 1946-1947. We will provide detailed descriptions of their composition, design, mintage, and overall significance, offering readers a comprehensive understanding of these numismatic treasures.

French Indochina History

French Indochina was a colonial federation established by France in Southeast Asia, encompassing the present-day countries of Vietnam, Laos, and Cambodia. The formation of French Indochina began in the mid-19th century as France expanded its imperial ambitions in the region. The colonization process started with the annexation of Cochinchina (southern Vietnam) following the Franco-Spanish naval expedition in 1858. The Sino-French War (1884-1885) culminated in the Treaty of Tientsin, leading to French consolidation in the region.

On 17 October 1887, the French officially unified the territories of Cochinchina, Annam, Tonkin, and Cambodia under a single administration, formally establishing the French Indochinese Union, also known as French Indochina. The Chinese territory of Guangzhouwan from 1898 until 1945, while Laos was added to the federation in 1899. During the early 20th century, certain parts of Siam were also added to French Indochina. Saigon was the capital of the administration from 1887 to 1902 and again from 1945 to 1946, while Hanoi was the capital from 1902 to 1945. Following the Geneva Accord of 1954, French Indochina came to an end in 1954.

French Indochina Piastre

The Piastre de commerce, commonly referred to as the Piastre, was the principal currency utilized in French Indochina. It replaced the diverse local currencies that had previously been in use. Initially, the piastre was pegged to the silver standard, aligning it with other silver-based currencies like the Mexican peso and the Hong Kong dollar. This connection to silver made the Piastre a stable and internationally accepted currency, which was essential for the French colonial administration's economic goals.

Subsidiary coinage in "cents" was introduced by the French in Cochinchine during the 1870s. Even though there were no issued Cochinchine coins with denominations higher than 50 cents, but Cochinchine pattern coin dated 1879 with the term "PIASTRE" is known. Therefore, despite claims in various sources that Piastre was the currency of French Indochina between 1885 and 1954, it is likely the term "Piastre" was used by the French administration in Southeast Asia as early as 1879.

The Piastre, which derived from the term "pieces of eight" was divided into 100 centimes or 100 cents, and coins were issued in various denominations to facilitate everyday transactions as well as larger commercial exchanges. The highest denomination coin was the Piastre coin. The currency played a critical role in the colonial administration's efforts to integrate the economy of French Indochina with the broader French Empire and the global economy. The designs on the coins often featured symbols of French power and ideals, such as the image of Liberty or Marianne, which were intended to reinforce the legitimacy of French rule in the eyes of the local population.

French Indochina Piastre Coins Dated 1885-1895

As mentioned above, on 17 October 1887, the French officially established the French Indochinese Union, also known as French Indochina but coins with the term "INDO-CHINE" appear on coins dated as early as 1885, with the last COCHINCHINE coins dated 1884.

The first series of French Indochina piastres weighing 27.215 grams were minted between 1885 and 1895 (except in 1891 and 1892). These coins were struck in silver with a composition of 90% silver. The technical specifications of these coins are as follows: they have a diameter of 39 mm, a thickness of 2.7 mm, and feature a reeded edge with coin alignment. The engraver responsible for this design was Jean-Auguste Barre.

Obverse Design: The obverse of these coins features seated Marianne or Lady Liberty, the personification of the French Republic. Marianne is seated to the left and holding a fasces, a symbol of authority, in her right hand. The date of minting is inscribed in the exergue below. The key inscription on the obverse reads "RÉPUBLIQUE FRANÇAISE" and the year of minting.

Reverse Design: The reverse side of the coin displays the denomination within a wreath, with the key inscription "INDO-CHINE FRANÇAISE PIASTRE DE COMMERCE TITRE 0,900. POIDS 27,215 GR." The weight is the key distinction between this first series from the next series. The mintmark "A" can also be found in the center of the design.

These coins were minted at the Monnaie de Paris (Paris Mint), designated by the mint mark 'A.' The mintage numbers for this series are as follows:

1885 A: 800,000
1886 A: 3,216,000
1887 A: 3,076,000
1888 A: 948,000
1889 A: 1,240,000
1890 A: 6,108
1893 A: 795,000
1894 A: 1,308,000
1895 A: 1,782,000

French Indochina Piastre Coins Dated 1895-1928

The second series of French Indochina Piastre coins, minted between 1895 and 1928, marked a period of continuity with the first series, though there was one notable difference: the weight of the coins. While the overall design remained consistent, the coins in this series were slightly lighter, weighing 27 grams compared to the 27.215 grams of the earlier series. This weight change is reflected in the text on the reverse which reads "INDO-CHINE FRANÇAISE PIASTRE DE COMMERCE TITRE 0,900. POIDS 27 GR."

This weight reduction was a direct response to a significant economic event. On 8 July 1895, the French authorities implemented a protectionist measure by banning the importation of Mexican trade dollars. In the wake of this regulation, the Piastre’s weight was modestly reduced.

From 1895 to 1913, the coins were minted every year except in 1911 and 1912. From the start of World War I in 1914 to a couple of years after the end of the war, no French Indochina Piastre coin was minted. In 1921 and 1922, the Piastre was struck outside Paris for the first time—at the San Francisco Mint in the U.S. and the Heaton Mint in Birmingham, England. These coins are marked with 'H' for Heaton, or no mark for San Francisco. Production in Paris resumed from 1924 to 1928.

The mintage numbers for this series are as follows:

1895 A: 3,798,000
1896 A: 11,858,000
1897 A: 2,511,000
1898 A: 4,304,000
1899 A: 4,681,000
1900 A: 13,319,000
1901 A: 3,150,000
1902 A: 3,327,000
1903 A: 10,077,000
1904 A: 5,751,000
1905 A: 3,561,000
1906 A: 10,194,000
1907 A: 14,062,000
1908 A: 13,986,000
1909 A: 9,201,000
1910 A: 761,000
1913 A: 3,244,000
1921 (no mark): 4,850,000 (smooth edge), 1921 H: 3,580,000
1922 (no mark): 1,150,000, 1922 H: 7,420,000
1924 A: 2,831,000
1925 A: 2,882,000
1926 A: 6,383,000
1927 A: 8,183,999
1928 A: 5,290,000

French Indochina Piastre Coins Dated 1931

The economic shifts in 1930 marked a pivotal moment in the numismatic history of French Indochina Piastre coins, which resulted in substantial change in the 1931 Piastre coins from the first two series.

By 1930, the economy of French Indochina had plunged into deep depression and by 31 March 1930, the Piastre's value was inflated to a 1:10 ratio against the Franc. The Commission for the Modification of the New Piastre was contemplating minting coins from 68% fine silver but the was shunned as there were fears that the public might not accept such coins due to low silver content. Ultimately, it was decided to mint a 90% silver coin but the weight and silver content were dropped from 27 to 20 grams.

The coins had a diameter of 35 mm, and a thickness of 2.7 mm, and featured a reeded edge with coin alignment. The obverse of the 1931 piastre coins features a laureate profile of Marianne facing left wearing a Phrygian cap. The key inscription reads "RÉPUBLIQUE FRANÇAISE." The reverse side displays an indigenous design around the lettering, with the key text "INDO-CHINE FRANÇAISE 1 PIASTRE 1931." The engraver responsible for this design was Edmond-Émile Lindauer.

The total mintage of French Indochina Piastre coin dated 1931 is 16,000,000 (16 million). Even though all coins are dated 1931 the coins were struck in 1931 and 1932. About 13.29 million coins were produced in 1931 and about 2.71 million coins were minted in 1932 but backdated to 1931. These coins were minted at the Monnaie de Paris, with no additional mint marks.

French Indochina Piastre Coins Dated 1946-1947

The final series of French Indochina piastre coins were minted in the immediate post-World War II period, during a time of profound political and social upheaval. These coins were issued under the French Union, reflecting the changing political landscape as French colonial rule in Indochina began to wane.

The 1946-1947 piastre coins were made of copper-nickel, with a weight of 18 grams, a diameter of 35 mm, and a thickness of 2.5 mm. The edge was either a security edge or reeded, with coin alignment.

The obverse design features Marianne facing right wearing a Phrygian cap, adorned with a laurel branch. The date is inscribed in the exergue, and the key text reads "UNION FRANÇAISE." The reverse side displays grain sprigs below the denomination, with the inscription "FÉDÉRATION INDOCHINOISE 1 PIASTRE." The engraver of this series was Pierre Turin.

These coins were minted at the Monnaie de Paris, with no additional mint marks. Mintage numbers are as follows:

1946 Security edge: 2,520,000
1947 Security edge: 261,000
1947 Reeded edge: 54,480,000

The 1946-1947 piastre coins being the only non-silver Piastre de commerce type are notable for their composition and design, reflecting the post-World War II era and transition from colonial rule to the emergence of new political entities in Southeast Asia. These coins mark the end of an era, as French Indochina moved towards independence and the creation of modern-day Vietnam, Laos, and Cambodia.

Conclusion

The French Indochina piastre coins serve as enduring relics of a bygone colonial era, encapsulating the complex interplay of economics, politics, and culture during French rule in Southeast Asia. From their introduction in the late 19th century to their final minting in the post-World War II period, these coins witnessed significant historical events, including the expansion of the French colonial empire, the economic challenges of the early 20th century, and the eventual decline of colonial authority.

Each series of coins, with its unique design, composition, and mintage, reflects the evolving priorities and circumstances of the time, offering valuable insights into the colonial experience in Vietnam, Laos, and Cambodia. Today, these piastre coins are not only prized by numismatists for their historical significance and intricate designs but also serve as tangible connections to a period of profound transformation in Southeast Asia.

Frequently Asked Questions

Q: What was the "Piastre de commerce" (Piastre) in French Indochina?

A: The Piastre de commerce, or Piastre, was the main currency used in French Indochina, replacing diverse local currencies. Introduced around 1885 and pegged to the silver standard, it was divided into 100 centimes/cents and served as a critical tool for the French colonial administration's economic goals.

Q: What were the key design features of the early French Indochina Piastre coins (1885-1895 series)?

A: These early Piastre coins featured seated Marianne (Lady Liberty) holding a fasces on the obverse, with "RÉPUBLIQUE FRANÇAISE" inscribed. The reverse displayed the denomination within a wreath, stating "INDO-CHINE FRANÇAISE PIASTRE DE COMMERCE" and its specific weight (27.215 grams) and silver purity (0.900 titre).

Q: Why did the weight of the Piastre coins change in the 1895?

A: The weight of the Piastre coins was slightly reduced to 27 grams in the 1895-1928 series. This change was a direct response to a protectionist measure implemented on 8 July 1895, when French authorities banned the importation of Mexican trade dollars, prompting a modest adjustment in the Piastre's specifications.

Q: What significant economic event influenced the design and composition of the 1931 Piastre coin?

A: By 1930, French Indochina's economy faced a deep depression, leading to the Piastre's value inflating to a 1:10 ratio against the Franc. This economic shift prompted a substantial change in the 1931 Piastre coins, where their weight was significantly reduced from 27 to 20 grams, though they maintained 90% silver content.

Q: What distinguishes the final series of French Indochina Piastre coins (1946-1947)?

A: The 1946-1947 series marked the end of the Piastre de commerce era. These coins were notable for being the only non-silver Piastres, made of copper-nickel. Their designs featured Marianne facing right under the "UNION FRANÇAISE" inscription, reflecting the changing political landscape and the waning of French colonial rule post-World War II.