Long before the Euro was established as a common currency amongst European Nations, there was a similar currency union that standardized gold coins used for trade throughout Europe. It was called the Latin Monetary Union (LMU).
The Latin Monetary Union was developed in the 19th century between France, Belgium, Italy and Switzerland as a way to create a standard currency. They agreed to a combined gold and silver standard with a fixed gold-to-silver ratio of 15.5 to 1 as established in the French Franc. One LMU Franc represented 4.5 grams of fine silver or 0.290322 gram of fine gold.
Gold coins from the Latin Monetary Union are highly sought after by investors for their gold content. The most common of these include the French Gold Rooster, the Swiss Helvetia, and the Austrian Gold Florin. Many of the coins carry a dual currency designation that includes the local currency name as well as that representing it’s value in Gold Francs.
