1923 AD., France, Chambers of Commerce, Paris mint, 1 Franc, KM 876.

France, 3rd Republic, Chambers of Commerce, engraver: Joseph-François Domard, Paris mint, 1923 AD.,
1 Franc (ø 23 mm / 4,12 g), aluminium-bronze, 4,00 g. theor. mint weight varying 3,65 til 4,23 g., mintage 140.138.000 , axes coin alignment ↑↓ (180°), reede edge, varnished,
Obv.: CHAMBRES·DE·COMMERCE·DE·FRANCE / BON POUR / 1 / FRANC / BR. AL. , issuer around circle, value within, mint mark cornucopia and abbreviated metal alloy below value; clashed dies (visible in fields left of value number 1).
Rev.: COMMERCE INDUSTRIE / DOMARD 1923 INV. , Mercury seated left, holding a winged caduceus and leaning on a rudder, a cornucopia at his feet.
KM 876 ; Gadoury 468 .

Year / Mintage / Details
1920 590,000
1920 Essai
1921 54,572,000
1922 111.343.000
1922 base of triangle 2
1923 140.138.000
1924 closed 4
1924 87,715,000 open 4
1925 closed 2
1925 36,523,000 open 2
1925 closed 5
1926 1,580,000
1927 11,330,000

This piece is a common date of a series struck in France 1921-29 after World War One. It superseded a silver franc. The "Chambres de Commerce" also appeared on contemporary 50 centimes and two 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.