Saar franc
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The franc (German: Franken) was the currency of the Saar Protectorate and, later, the state of Saarland in West Germany between 20 November 1947 and 6 July 1959. It was at par with the French franc, and French coins and banknotes circulated alongside local issues.
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[edit] History
In 1947, banknotes were issued for Saar denominated in Mark, followed by coins denominated in Franken, dated 1954 and 1955.
After a referendum about the future status of the region, Saarland was incorporated into the Federal Republic of Germany as a Bundesland on 1 January 1957. The economic integration into Germany was completed with the withdrawal of all Saar-Franken. On June 29, 1959 the federal ordinance "Verordnung zur Einführung der Deutschen Mark im Saarland"[1] stipulated that - with effect of 6 July (§ 1) - all debts, credits, deposits, wages, rents, fees, interest servicing, or amortisation payments, and other obligations, as well as cash reserves and prices denominated in Francs were to be converted at the rate of 100 Francs = 0.8507 Deutsche Mark (§ 2).[2] The conversion had been brought forward by half a year because of the accelerating depreciation of the French franc, towards which the Saar-Franken was at par. The freedom to fix new prices was maintained, but especially temporarily or permanently fixed obligations, not to be altered at any time, were not to be renegotiated but converted at the rate fixed.
[edit] Appearance
Pictures on coins of Saarland always depicted things related to the industry and mining in the region. Also the coat of arms of Saarland appears on every coin. Coins of 10, 20 and 50 Franks depicted a factory and mining tower, with the coat of arms of Saarland in front of them. 100 Frank coins depicted a gearwheel, again with the coat of arms of Saarland in front of it.
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[edit] Notes
- ^ Bundesgesetzblatt (BGBl., federal law gazette) I, p. 402
- ^ The Federal Republic of Germany fixed that rate and converted older obligations denominated in Saar francs at this rate into Deutsche Mark. Cf. the federal act on compensations "Bundesgesetz zur Einführung des Bundesgesetzes zur Regelung der rückerstattungsrechtlichen Geldverbindlichkeiten des Deutschen Reichs und gleichgestellter Rechtsträger (Bundesrückerstattungsgesetz - BRüG) im Saarland", which - in its Art. II, No. 8 - mentions the official rate.
