DOMINICAN REPUBLIC 5 Francos 1891-A Genuine AU Detail Silver KM-12

Description

DOMINICAN REPUBLIC 5 Francos 1891-A
PCGS Genuine AU Detail Silver KM-12
The
franco
was a currency
introduced in the Dominican Republic
in 1891, as the Dominican Republic Government, then headed by president Ulises Heureaux
intended to join the Latin Monetary Union
. It was subdivided into 100 centesimos
. Five denominations of coins
were issued, 5, 10 and 50 centesimos, 1 and 5 francos. Although apparently intended to replace the mexican peso
which was the main circulating currency back then, this did not happen, because the Dominican Government did not establish parity with the circulating Mexican peso and in 1897, new coins denominated in pesos and similar in design to the franco coins were introduced. The coins matched the specifications of the French
10 and 50 centimes and 1 and 5 francs,
indicating that a link between the franco and the Latin Monetary Union
was intended.