12 Deniers France

The 12 Deniers, struck from billon—a copper-silver alloy that often contained less than 10% silver—reflected France's economic woes during the ancien régime, as the government debased currency to fund wars.

This coin circulated widely in daily transactions, from market stalls to tavern debts, and was minted in various French cities like Paris and Lyon. Designs varied by reign, typically featuring the ruling monarch's profile on one side and a cross or shield on the other, but exact dies changed frequently.

Records are spotty; we know production peaked under Louis XIV, yet precise mintage figures vanished in bureaucratic fires or revolutions. I've examined hundreds over the years, and they're often worn smooth from pocket use.

Counterfeiters loved them, given the low silver content—almost as much as I love spotting the fakes.