Allegiance L'AN III - 1792

This token 5 Sols was minted in Birmingham England. Late in 1791 Matthew Boulton, utilizing his newly invented steam driven coin presses, was commissioned by the Monneron Brothers of Paris France to produce 1, 2 and 5 Sols pieces in great quantity at his Soho Mint near Birmingham. According to various sources, the total weight of tokens produced was in excess of 70 tons. These 'monnaies de necessite' were to be used to remedy the lack of specie which plagued France during the early revolutionary years. The technical and aesthetic quality of the tokens was far superior to the bronze coins of the time.
Obverse - Soldiers swearing allegiance to personification of 'France', who holds a copy of the Constitution. Legend: "VIVRE LIBRES OU MOURIER." ("Live Free or Die"). In exergue: "14 JUILLET 1790"
Above the flags: "PACTE FEDERATIF"
Reverse: "MEDAILLE DE CONFIANCE DE CINQ-SOLS REMBOURSABLE EN ASSIGNATS DE 50 L. ET AU DESSUS." In exergue: "L'AN III DE LA LIBERTE" Legend: "MONNERON FRERES NEGOCIANS A PARIS 1792." Edge reads: "DEPARTEMENS DE PARIS . RHONE ET LOIRE . DU GARD .". Mazard No. 142. Reynaud 2b (coin alignment, w/o 'T' on edge). There are several other types, this one much less common, some much rarer, including types struck in silver & gilt.

The date L'AN III de la Liberte refers to the Revolutionary French Constitutional Calendar and translates as early 1792. The scene on the obverse shows the Oath of the Federation, the first anniversary of which was celebrated by the Festival of the Federation on 14 July 1790. The Festival, which included a mass held by the great French statesman Talleyrand (1754-1838), then the Bishop of Autun, also commemorated the taking of the Bastille and the bond uniting the nation, the king, and the people. Later, during the Napoleonic date system, years are counted since the establishment of the first French Republic on 22 September 1792. That day became 1 Vendemiaire of the year 1 of the Republic. (However, the Revolutionary Calendar was not introduced until 24 November 1793.)

In March 1792, the Monneron Brothers became bankrupt and one brother, Pierre, abandoned the business. Under the other brother, Augustin, the business recovered, but a law inacted 3rd May 1792 forbade the production of privately issued coinage. In September, a further decree also forbade the marketing of these 'Medailles de Confiance'. This emergency coinage only remained in circulation until the end of 1793. These are listed in KM under France Token issues of MONNAIES DE CONFIANCE (1791-92). This example obtained at Rosenblum auction 41E (Lot 298, May 2011) for $145.

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Here is the link to the BEST article on Matthew Boulton, the Industrialization of Coinage, and the Monneron Brother's wonderful token coinage during the French Revolution:
Boulton and the Monnerons - Margolis: [ link ]