20 Francs Napoleon III gold coin

Two portraits, two reverses: placing the coin

The first glance goes to the Emperor's head. Without a wreath, the coin belongs to the first type, struck from 1853 to 1860; its reverse shows “20 FRANCS” within a laurel wreath. With a laurel wreath in the hair, it is the second type, from 1861 to 1870, with the imperial coat of arms on the reverse.

These two types frame the history of the Second Empire. Proclaimed in December 1852, it struck its first gold coin in 1853. Gold from California and Australia was then pouring into Europe: in Paris, every year from 1854 to 1859 exceeded 16 million coins. In 1865, France signed the Latin Monetary Union convention with Belgium, Italy and Switzerland, making their gold coins interchangeable. Imperial striking ended with the defeat at Sedan in September 1870.

The nickname “napoléon” is older: it comes from the 20 francs of Napoleon I, struck to the standard of 6.45 g of gold at 900 thousandths set by the law of 7 Germinal Year XI (1803). Napoleon III coins circulated until 1914, which explains why they are so often worn.

Under the loupe: the mint mark and the privy marks

Turn the coin over. On the first type, the mint mark hides below the knot tying the two branches; on the second, it sits at the bottom, next to the date. A stands for Paris, which struck most of the coins, and D for Lyon, which produced this napoléon only in 1855. The third letter, doubled, belongs to the only other mint, shown in the table.

On either side of the letter are two symbols the size of a pinhead: the privy marks. One refers to the Chief Engraver, the other to the mint director. On the first type, the dog's head stands for Jacques-Jean Barre and the anchor for his son Albert-Désiré, in office from 1855. The hand goes with Paris, the lion with Lyon, the bee with the third mint.

In 1855 the two engravers succeeded each other, so the same date exists with either the dog's head or the anchor, the first being the scarcer. On the second type, also look at the size of the letter itself: 1862 exists with a “large A”. A ×10 loupe and raking light are enough.

Dates and varieties that stand out

Most napoléons found are heavily struck dates: 1854, 1855, 1857 or 1859 in Paris for the first type, 1866 to 1868 for the second. A few cases nonetheless deserve a closer look.

• 1855 D: Lyon's only striking, about 363,000 pieces, with several lion varieties.
• 1870 A: fewer than 900,000 coins, the smallest Paris mintage of the second type.
• The 6 re-engraved over a 5 in 1860: a 5 can be made out beneath the 6 of the date.
• The reeded edge of one 1866 variety, instead of the usual legend: rare.
• Burnished flans with a plain edge from 1853 to 1855, struck to be given as gifts.
• Patterns of the laureate portrait (1861, 1862, 1868), almost never seen outside collections.

The other markers (low mintages at each mint, small and large letters) are in the table.

Platinum and modern gold: spotting a fake napoléon

Forgers have been interested in this coin for as long as it has existed. Platinum fakes date from the Second Empire itself: platinum was then cheaper than gold and heavier, which made it possible to fool the scales. They imitate dates of both types, for example 1858 A, or 1865 and 1867 with the letter of the third mint. They give themselves away by their grey colour, visible as soon as the surface is worn or scratched. Now witnesses of their period, they interest some collectors today.

Modern gold fakes, sometimes of the correct fineness, imitate a coin in high demand. Warning signs: soft relief, hair without detail, badly aligned edge lettering, a weight slightly off standard. Three simple checks: the scales (6.45 g, a few hundredths less for a worn coin), the diameter (21 mm) and the edge, which should be crisp and raised.

If in doubt, do not use acid and do not scratch the coin.

Where wear begins

On the first type, look first at the hair above the ear and on the temple, then at the cheekbone and the tip of the goatee. When the locks remain separate, the coin is at least Very Fine (French grade TTB); when the hair has become a smooth surface, it drops to Fine (TB). On the reverse, follow the veins of the leaves and the knot of the ribbon.

On the second type, the laurel wreath is the indicator: its veins disappear quickly, then the leaves merge into the hair. On the reverse, the eagle, the thunderbolt and the very fine links of the collar wear before the folds of the mantle.

Family pieces are generally Fine or Very Fine. An Extremely Fine coin (SUP) keeps its original lustre in the recesses, around the letters. Never rub a gold coin to make it shine: the fine scratches that result take away most of its collector interest.