Banknotes in new francs (1958-1959)
The 1950s failed to clean up the country's finances. The crisis and the insurgency context in Algeria mark the return of General de Gaule to power in May 1958. In December, the country undertakes its twelfth currency devaluation since 1914. In the process, a monetary reform is prepared in order to stabilize definitely the economic situation. These changes herald the entry into a new era for the franc. A new monetary unit called "new franc" is created and its value is fixed at 100 francs! In July 1959 and pending the production of new denominations, the Bank of France puts into circulation notes denominated in old francs by overprinting them with a mention in red: "counter-value of ... new francs". It is also a question of not disturbing the French and to familiarize them quickly with this new monetary unit. This issue lasts only six months and the banknotes concerned are: the 500 francs - 5 nouveaux francs Type 1953 Victor Hugo (Pick: #137), the 1000 francs - 10 nouveaux francs Type 1953 Richelieu (Pick: #138), the 5000 francs - 50 nouveaux francs Type 1957 Henri IV(Pick: #139) and the 10000 francs - 100 nouveaux francs Type 1955 Bonaparte (Pick: #140). The 50000 francs Molière Type 1957 is also overcharged 500 NF over 50000 francs Molière Type 1957 (Pick: #140A) but will never be put into circulation. Finally, in early January 1960, the Banque de France issued the new notes denominated only in new "NF" francs. For practical reasons of use with the French, the cuts remain identical to the previous ones and are: the 5 nouveaux francs Type 1959 Victor Hugo (Pick: #141), the 10 nouveaux francs Type 1959 Richelieu (Pick: #142), the 50 nouveaux francs Type 1959 Henri IV (Pick: #143), the 100 nouveaux francs Type 1959 Bonaparte (Pick: #144) and the 500 nouveaux francs Type 1959 Molière (Pick: #145). This last ticket is besides the only novelty of this range with an adaptation in 500 NF of 50000 francs Molière Type 1957.