Saar franc

Saar franc refers to the French franc (German: Franken) used as the official currency of the Saar during the two times that the Saar territory was economically split off from Germany, i.e. 1920–1935 as the Territory of the Saar Basin; and 1947–1957 as the Saar Protectorate and 1957–1959 as the state of Saarland in West Germany. Although local notes and coins were issued during both periods, legally the Saar franc was never an independent currency.

The Treaty of Versailles stated in article 45 that the newly formed territory would be administered by the League of Nations for 15 years, and that during that time France was granted the complete benefit of the Saar coal mines. The new French administration of the coal mines was granted the right to process all financial transactions with French francs. Therefore, from 1921 to 1923 the French franc was used alongside the German mark (ℳ), and from 1923 on, when the Saar Territory was incorporated officially into the French economy, the franc became the only valid currency. Due to the shortage of nonferrous metal, the coal mines administration began to print its own banknotes, the so-called "Grubengeld" ("coal mine money"). After 1930, these notes were replaced by the usual French notes.

After the plebiscite of 1935, when the Saar Territory was unified with the German Reich again, the Reichsmark (ℛℳ) was immediately introduced. The official exchange rate was 1 franc = 0.1645 ℛℳ.

On 16 July 1947, banknotes were issued for Saar denominated in marks, which replaced the German Reichsmark. But in November 1947, the French government reintroduced the French franc as the official currency. Between 20 November 1947 and 15 January 1948, all notes and coins had to be exchanged, the exchange course being 20 Saar marks = 1 franc. It was not before 1954 when the government of the Protectorate issued new coins denominated in 10, 20, 50 and 100 francs. But the coins resembled the coins of the French franc and were officially and legally not a currency of their own, but only local issues of the French franc.

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