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The Paris Mint said Tuesday that it would soon start selling solid-gold coins for investment, the first since it quit making Napoleons and Louis over a century ago.
Four versions of the new Marianne coins will go on sale 16 June, ranging from one-tenth of an ounce (3.1 grams) to a full ounce (31.1 grams).
One side will feature the symbolic Marianne face representing the French republic, while the other will show a map of the nation’s territories, the Mint said.
Napoleons were France’s standard gold investment coin from 1803 to 1914 and the name “Napoleon” extended beyond the emperor himself to cover the entire standard of gold 20-franc coins.
They were struck in 90% pure gold, weighed 6.45 grams and contained 0.1867 troy ounces of gold.
Louis or Louis d’or, meaning “gold Louis,” were older still. They were first introduced by Louis XIII in 1640, with the portrait of the king on one side and the French royal coat of arms on the reverse.
The coin was replaced by the French franc at the time of the Revolution and later by the similarly valued Napoleon. The Louis d’or’s value was initially set at 10 livres, then evolved over successive reigns, reaching 24 livres under Louis XV.
The new Marianne coins will compete on the global market with South African Krugerrands, Canadian Maple Leafs or American Gold Eagles.
Safe-haven gold coins
The goal is to “democratise the gold market in France,” the Mint’s chief Marc Schwartz told journalists ahead of the launch, citing “investor demand” as prices have soared in recent years.
Most investors wanting to buy gold, considered a safe haven compared to other investments, usually opt for market-traded funds that track the metal’s price or buy shares in gold mining firms.
Gold and silver coins currently issued by the Mint are commemorative or collector items made of alloys with lower percentages of the precious metals.
But the new coins will be sold at market prices for gold — currently around $4,600 an ounce after surging more than 65 percent last year.
For investors who want to avoid the cost of storing and protecting gold in their homes, the Mint will offer a digital “e-Marianne” coin that it will hold until the day the owner wants to sell.
The Paris Mint did not say how many coins it expected to sell. Its revenues rose 1.7 percent last year to reach 197 million euros ($230 million).