Spencer Collection Latin Monetary Union Denomination Type Set #2 - 2nd

Current Statistics
Rank 2
Weighted GPA 63.031
Complete 16.67%
Set Rating 16.398
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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 #2
ImageItemPCGS No.DateDenomGradePopPop HigherOwner's Comments
Belgium Silver 50 Centimes   50C 
Belgium Silver Franc   Franc 
Belgium Silver 2 Frank   2 Fr 
Belgium Silver 5 Frank   5 Fr 
Belgium Gold 20 Frank25212187620 FrMS6582Belgium, 20 Gold Franc. KM#37. Dated 1876, Gem MS65, Only 2 graded higher.
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 Leva   100 Lev 
French Silver 50 Centimes   50C 
French Silver Franc   1 Fr 
French Silver 2 Francs   2 Fr 
French Silver 5 Francs     
French Gold 10 Francs   10 Fr 
French Gold 20 Francs157832190720 FrMS656424France 20 Franc Gold, 1907. GEM, Better Date
French Gold 50 Francs   50 Fr 
French Gold 100 Francs1582061911-A100 FrMS63196France, Gold 100 Francs Dated 1911-A "Angel Writing", .9334 Oz.
Greek Silver 50 Lepta   50 Lep 
Greek Silver Drachma   Drachma 
Greek Silver 2 Drachma   2 Dr 
Greek Silver 5 Drachma   5 Dr 
Greek Gold 20 Drachma3194151876-A20 Dr 
Greek Gold 50 Drachma1584631876-A50 Dr 
Greek Gold 100 Drachma7324841876-A100 Dr 
Italian Silver 50 Centesimi   50C 
Italian Silver Lira   Lira 
Italian Silver 2 Lire   2 L 
Italian Silver 5 Lire   5 L 
Italian Gold 10 Lire   10 L 
Italian Gold 20 Lire1741141889-R20 LMS6360Italy, 20 Lira Gold Dated 1889. This and the 1884-R are key dates of the se...
Italian Gold 50 Lire   50 L 
Italian Gold 100 Lire     
Swiss Silver 1/2 Franc   1/2 Fr 
Swiss Silver Franc8862421908 B1 FrMS6458Switzerland, Franc Dated 1908-B. KM-24. Brilliant mint luster. PCGS graded ...
Swiss Silver 2 Francs   2 Fr 
Swiss Silver 5 Francs   5 Fr 
Swiss Gold 10 Francs8869011916 B10 FrAU58211Switzerland, Gold 10 Francs, Better Date
Swiss Gold 20 Francs886942188620 FrMS6373Switzerland, Gold 20 Francs, KM-31.3, Older Type and First Year of Type, On...
Swiss Gold 100 Francs8870301925 B100 Fr