The Napoleon III 20 francs gold coin

Two portraits for one reign

Louis-Napoléon Bonaparte took the name Napoleon III when the Second Empire was proclaimed in December 1852. His profile appeared on the 20 francs gold coin from 1853. The standard was still the one fixed in 1803 by the law of 7 Germinal Year XI: 6.45 g of gold at 900 thousandths. The nickname “napoléon”, born with the coins of the first emperor, later spread to every 20 francs gold coin, whatever the regime.

The 1850s saw gold pour in from California and Australia, and the mints worked flat out: from 1854 to 1859, Paris passed 16 million coins every year. In 1861 the coin changed its look. Albert-Désiré Barre added a laurel wreath to the portrait and replaced the branches on the reverse with the arms of the Empire.

In 1865 a convention brought France, Belgium, Italy and Switzerland together in the Latin Monetary Union: their gold coins, of the same weight and fineness, moved freely from one country to another. The defeat at Sedan, in September 1870, swept away the Empire and ended this coinage; the Republic went back to the Genius 20 francs. Napoleon III napoléons circulated until 1914, which explains why most surviving pieces show wear.

Mint mark and reverse symbols

Turn the coin over. On the bare head, the mint mark is tucked below the bow of the two branches; on the laureate head, it sits at the bottom, right next to the year. Three letters exist: A for Paris, by far the most common, BB for Strasbourg, and D for Lyon, which produced this napoléon only in 1855.

Nearby are two small signs called privy marks (“différents” in French). The first points to the Chief Engraver: a dog's head for Jacques-Jean Barre, an anchor for his son Albert-Désiré, in office from 1855. The second points to the management of the mint: a hand in Paris, a bee at the BB mint, a lion in Lyon.

In 1855, the change of Chief Engraver produced two combinations side by side: Paris and the BB mint both delivered coins with the dog's head and others with the anchor, the former being fewer. On the laureate head, look instead at the size of the letter: a large A exists in 1862, a small and a large BB in 1864, 1867 and 1869. A ten-times loupe is all you need for these checks.

Period coin or imitation?

Some genuine varieties are confusing at first sight. The 1860 date exists with a 6 re-engraved over a 5, in Paris as at the BB mint. The 1866 BB turns up, rarely, with a reeded edge. The burnished flans of 1853 to 1855 have a plain edge. As for the laureate-head patterns dated 1861, 1862 and 1868, they almost never leave collections.

Counterfeits fall into two groups. The first goes back to the Second Empire itself: forgers struck napoléons in platinum, for dates of both types, among them 1858 A, 1860 BB, 1865 BB and 1867 BB. The weight can fool you, but a grey tint shows through on rubbed or scratched areas. These old forgeries are now kept as witnesses of their time.

The second group gathers recent copies in gold, sometimes of the correct fineness. Warning signs: blurred relief, hair with little detail, poorly aligned edge letters, a weight that departs from the norm. Three simple measurements: 6.45 g (a few hundredths less on a heavily worn coin), 21 mm in diameter, a crisp edge inscription.

Not to be confused with

• The Napoleon I 20 francs: same weight and diameter, but the legend has no numeral III and the dates run from Year XI to 1815.
• The Genius and Rooster 20 francs: identical specifications, but no emperor's portrait and the words “REPUBLIQUE FRANÇAISE”.
• Coins of the neighbouring countries: Belgium, Switzerland and Italy struck 20 francs and 20 lire to the same standard. The name of a king or the head of Helvetia gives them away at once.
• The Monaco 20 francs: struck in Paris in 1878 and 1879, with the letter A, in the name of Prince Charles III. The legend “CHARLES III PRINCE DE MONACO” and the princely arms on the reverse identify it.
• The 10 francs gold coin of the same reign: similar portraits, but a coin half as heavy and smaller in diameter.

When in doubt, reading the legend and weighing the coin settle the question almost every time.

Judging wear, portrait by portrait

Bare head. The hair above the ear and near the temple wears first, followed by the cheekbone and then the tip of the goatee. A VF coin (French grade TTB) keeps separate locks, whereas in F (TB) the hair is no more than a smooth surface. On the reverse, check the veins of the laurel and the bow that ties the branches.

Laureate head. Look at the wreath first: the veins of the leaves vanish early, then the leaves merge with the hair. On the reverse, the eagle, the thunderbolt and the links of the collar fade before the folds of the mantle.

Most napoléons kept in families grade F or VF (TB or TTB). An EF piece (SUP) keeps its original lustre in the fields, around the letters. Avoid any cleaning: rubbing leaves fine scratches that strip the coin of almost all its interest for a collector.