1923 AD., France, Chambers of Commerce, Paris mint, 50 Centimes, KM 884.

France, 3rd Republic, Chambers of Commerce, engraver: Joseph-François Domard, Paris mint, 1923 AD.,
50 Centimes (ø 18 mm / 1,96 g), aluminium-bronze, 2,00 g. theor. mint weigh., mintage 119.584.000 , axes coin alignment ↑↓ (180°), reede edge,
Obv.: CHAMBRES·DE·COMMERCE·DE·FRANCE / BON POUR / 50 / CENTIMES / BR. AL. , issuer around circle, value within, mint mark cornucopia and abbreviated metal alloy below value.
Rev.: COMMERCE INDUSTRIE / DOMARD 1923 INV. , Mercury seated left, holding a winged caduceus and leaning on a rudder, a cornucopia at his feet; open 2.
KM 884 ; Gadoury 421 .

Year / Mintage / Details
1920
1920 Essai (smooth edge)
1920 Essai (reeded edge)
1921 8,692,000
1921 Essai
1922 86,226,000
1923 closed 2
1923 119.584.000 open 2
1924 closed 4
1924 97,036,000 open "4" in "1924"
1925 closed 2
1925 48,017,000 open 2
1926 46,447,000
1927 23,703,000
1928 closed 2
1928 10,329,000 open 2
1929 closed 2
1929 6,669,000 open 2

This piece is the most common date of a series struck in France 1921-29 after World War One. It superseded a silver fifty centimes struck 1897-1920. The "Chambres de Commerce" also appeared on contemporary two and one franc coins. Altho issued by the Paris mint, technically this type is not a coin but a token issued by the national Chamber of Commerce, not the government. This enabled the politicians to postpone acknowledging the obvious, that the inflation of World War One had reduced the value of the franc to one-fifth of its former level and there was no going back. Finally, president Poincaré officially devalued the franc and ordered the issue of new coin types.