Gold Latin Monetary Union coins

hello and welcome to another one of my videos and in today's video i just want to go through some of the latin monetary union coins so what you see before you is four countries that they were issued they were the four original countries so you have france so these are all angels you've got switzerland italy and belgium so the union came into force on the 23rd december 1865. i've been doing a bit of digging into it i i like to read up on history as well as economics and uh i've been reading papers and various other material concerning the matter there is a paper that i want to put out but we shall see it it's going to take time to dissect it and go through it so to give you an overview finland was also part of the lmu they joined in 1877. greece was also part of it they joined in 1869 spain also had a part in it in 1869 also other countries were aligned to the monetary union so for example you might have seen recently either tunisian franc i know that south america they had various connections to the lmu i think they adopted the standard but were not part of it so germany netherlands there actually there was a lot there was a lot of countries that had a gold standard but were not part of the union so it's quite an interesting topic so these coins here they're 5.9 grams and they're zero sorry they're not 5.9 they're 6.45 and they're 0.9 purity which makes them 5.8 they're 2.9 grams in gold content for the 10 franc and 5.8 for the 20 franc now the lmu is actually really interesting on the back of there's parallels between why it failed and why the current eu is failing this was just a monetary union the current eu has gone way beyond what this tried to ever achieve so the lmu actually failed because of italy it failed on the back that they were they had an unstable government and the stronger economies where we heard this one before were pulled down by the weaker economies it ended in 1927 i think on paper but it was done before then it it was done just before the first world war or around the time of the first world war so let's have a look at the coins i believe france issued four four different coins i think they had the rooster the angel napoleon i think napoleon with a reef as well i i prefer the angel it's also been called genesis i don't know why um i'd have to look into that nice coin nice design the french made some really really good coins over the years like the hercules coins really nice and silver monterey union did have did have silver as well we've got the swiss coin lady havisha our vanelli two different designs so i think there's one where she's sitting down as well this is a red herring and i'll tell you why this was sold to me as a mu coin i'm not a master of everything you know there's there's lots of things that i don't know but i will get into that in a second italy 20 lira this really threw me off with the second coin i'll tell you why because i wasn't sure that there was an lmu before there was an lmu it turns out they had a standard before and then other countries conform to that standard so this is belgium i've just sent off one of these and it's absolutely fantastic condition i went to get it graded not because i don't know how much value it's going to add to it i just thought it'd be a nice coin to get ready you know more than happy to keep it in my long term reserve so belgium let's have a look at this this predates the lmu by the way 1849. so this is the kingdom of sardinia so the italian states it's probably worth a bit more i didn't even clock it until i was researching for the video i was like oh that's that's old and i should have known because i know i've known when the album you started i've i've looked a lot into it into the past i just never really clocked it you know so this is probably worth a bit extra it's got a dink that's a shame you know there's about 110 ish thousands minted shame it wasn't an eagle that's an anchor uh had it been an eagle it would have been even rarer that's okay so i i was checking numista earlier when i was looking into it so they they minted these from 1831 to 1849 but they they weren't minted in in massive quantities you know i think the highest year was uh 200k mintage but most of them around the 40 mark 40k not 40 coins so if you come across these they might they might do very well i'm going to contact a a customer and see if he wants to so i think he overlooked it on the back that it or the condition but like myself he he overlooked what it was so sardinia nice coin so yeah if i get any more lmu coins or i'll showcase them i do think they're nice i like the fact that they're all uniform it's pretty much the same as the euro but just in gold format you know there's an interest in history concerning uh countries on a paper stand i find it really funny when people talk about the gold standard they always talk about how we how we back down from the gold standard when in reality there were countries and kingdoms that um were on a paper standard or on a lesser standard and then went up to the gold standard so that never really gets spoken about which is interesting i don't know why that is the case so like the paper i've been reading confirmed that so there were countries so france for example convertibility of paper money suspended from 1870 to 1877 so they come off it but there's a there's a table where it tells you when they've switched from biometalism to gold are from biometallism to silver or from silver to gold so there are there are countries around the world that went from either silver to a gold standard um are a coin such as copper or brass into a gold standard are from silver two gold you know there were countries that were running a gold and silver standard and it wasn't economical they couldn't maintain it wherever you had that one before you know it's there's lots of factors going on i think in principle it's a great idea but you're never gonna you're never gonna beat the open market which brings me to a lot of the content i've been putting out i've been saying that they cannot hold the current gold price when they're constantly devaluing and this is what happened in the past you know they couldn't hold the current price for their own currencies whether that was gold silver biometalism are note form because of debasement gold is the ultimate way to stop debasement if your coinage is gold however if you have a derivative that is a claim on gold there's no way you can stop it it's always going to get debased always because inflation is the way forward and that's the system that we operate in so i hope you liked the video um if you did then please like comment and subscribe i've been working really hard and putting out content that i think will help people content that is educational but also sometimes content that people just have a spare five minutes and when i look at coins so if you do like it then thanks and i hope to see you on the next one bye

Channel: Shaun Oliver

Views: 1,596

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Id: DhFEO3E2Sro

Length: 9min 14sec (554 seconds)

Published: Sun Jul 12 2020