1790s Assignats of French Revolution

Описание: Assignats (paper money of French revolution) 1789-1795 was a monumental failure of the monetary system. It started as a scheme to tackle the enormous French national debt by selling off seized Vatican-owned land/property in exchange for silver/gold coins through these Assignats. Initially these were interest-bearing bonds backed by land but were soon abused by overprinting leading to hyperinflation/devaluation and eventual demise of this new currency by 1795. This period was also marked by political turmoil with King Louis XVI beheading followed by birth of French Republic in 1792 and just 7 years later with coup d'etat bringing Napoleon Bonaperte to power in 1799. Napoleon replaced this failed paper currency with silver coins restoring economic stability in this young nation.
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1. Assignat 1792 10 Sous Domaines Nationaux (pA53) with Phrygian or Liberty cap on pole held by allegorial figures and 2 embossed circular stamps ("Reign of Law" with Genius engraving "constitution" onto tablet of law and the bust of King Louis XVI "Roi des Francois").
2. Assignat 1792 50 Livres Republic of France (pA72) with seated Liberty alongside Gallic rooster on a pedestal with Fasces (Roman symbol of power and authority) and Phrygian cap with inscription "Liberte Egalite".
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Chapters:
00:00 History of Assignats.
03:55 Explore 10 Sous banknote.
08:13 Explore 50 Livres banknote.