Spencer Collection Latin Monetary Union Denomination Type Set 1865-1926 - The Number One Finest Set of All Time

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Rank 1
Weighted GPA 61.939
Complete 33.33%
Set Rating 24.675
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About this set: The LMU served the function of facilitating trade between different countries by setting the standards by which gold and silver currency could be minted and exchanged. In this manner a French trader could accept Italian liras for his or her goods with confidence that it could be converted back to a comparable amount of francs. Besides the named countries included in this set, Romania, Venezuela, Serbia, San Marino and Spain used similar weights in their coins to help facilitate trade. The LMU eventually failed for a number of reasons. Some members, notably the Papal State's treasurer, Giacomo Cardinal Antonelli, began to debase their currency. This meant he minted coins with an inadequate amount of silver and then exchanged them for coins from other countries that had been minted correctly. More importantly, because new discoveries and better refining techniques increased the supply of silver, the fixed LMU exchange rate eventually overvalued silver relative to gold. German traders, in particular, were known to bring silver to LMU countries, have it minted into coinage then exchanged those for gold coins at the discounted exchange rate. These destabilizing tactics eventually forced the LMU to convert to a pure gold standard for its currency. Funny how history repeats itself.

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Spencer Collection Latin Monetary Union Denomination Type Set 1865-1926
ImageItemPCGS No.DateDenomGradePopPop HigherOwner's Comments
Belgium Silver 50 Centimes   50C 
Belgium Silver Franc   1 Fr 
Belgium Silver 2 Frank   2 Fr 
Belgium Silver 5 Frank   5 Fr 
Belgium Gold 20 Frank25211187520 FrMS6510924Belgium, Gold 20 Franc. KM#37. Dated 1875, Gem MS65
Bulgarian Silver 50 Stotinki   50 St 
Bulgarian Silver Lev   Lev 
Bulgarian Silver 2 Leva   2 Leva 
Bulgarian Silver 5 Leva   5 Leva 
Bulgarian Gold 10 Leva   10 Leva 
Bulgarian Gold 20 Leva   20 Leva 
Bulgarian Gold 100 Leva297601894-КБ100 LevAU5840Bulgaria, 100 Leva Gold, FR.2, KM-21, Ferdinand I as Prince. Very difficult...
French Silver 50 Centimes1513991894-A50CMS653417France, Republic 50 Centimes Silver, Dated 1894A, KM834.1, PCGS MS65, Beaut...
French Silver Franc   1 Fr 
French Silver 2 Francs1543301914-C2 FrMS641520France, Republic 2 Francs 1914C, KM845.2, PCGS MS64, Peripheral Champagne C...
French Silver 5 Francs     
French Gold 10 Francs   10 Fr 
French Gold 20 Francs157836191120 FrMS66402France 20 Franc Gold, 1911. GEM, a Superb coin with Only 1 Graded Higher, B...
French Gold 50 Francs   50 Fr 
French Gold 100 Francs1581881886-A100 FrMS634028France, Gold 100 Francs Dated 1886-A "Angel Writing", .9334 Oz.
Greek Silver 50 Lepta   50 Lep 
Greek Silver Drachma   Drachma 
Greek Silver 2 Drachma   2 Dr 
Greek Silver 5 Drachma3193761875-A5 DrAU50224Greece, Silver 5 Drachmai, 1875-A, Beautiful even toned Example, Looks Unde...
Greek Gold 20 Drachma3194151876-A20 DrAU552521Greece, Gold 20 Drachmai, Fr-15, KM-49. Portrait of George I who ruled 1863...
Greek Gold 50 Drachma1584631876-A50 Dr 
Greek Gold 100 Drachma7324841876-A100 Dr 
Italian Silver 50 Centesimi   50C 
Italian Silver Lira2317971901-RLiraMS6327Italy, 1 Lira Dated 1901-R. Rome. Silver. Seldom encountered first year coi...
Italian Silver 2 Lire   2 L 
Italian Silver 5 Lire   5 L 
Italian Gold 10 Lire   10 L 
Italian Gold 20 Lire3383931881-R20 LMS64135Italy, Lovely Uncirculated Example
Italian Gold 50 Lire   50 L 
Italian Gold 100 Lire     
Swiss Silver 1/2 Franc8859811881 B1/2 FrAU5513Switzerland, 1/2 Franc Dated 1881-B, PCGS AU55, Lovely Toning
Swiss Silver Franc8862441910 B1 FrMS6531Switzerland, Franc Dated 1910-B. KM-24. Bern Mint. A Brilliant Uncirculated...
Swiss Silver 2 Francs   2 Fr 
Swiss Silver 5 Francs   5 Fr 
Swiss Gold 10 Francs8869021922 B10 FrMS642056Switzerland, Gold 10 Francs, GEM
Swiss Gold 20 Francs8869701899 B20 FrMS6470Switzerland, Gold 20 Francs, KM-35.1, Tied for Finest
Swiss Gold 100 Francs8870301925 B100 Fr