Introduction
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Un outil complémentaire au FRANC 10
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Mode d'emploi
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Un outil pour débuter une collection
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Le e-FRANC, vu de l'autre coté de l'Atlantique...
LE FRANC represents a serious attempt to apply American grading standards to French coins, and assign realistic corresponding market values. It is no secret that a great number of French coins are of greater rarity in mint state than similar coins of other countries. Le FRANC endeavors to provide market prices for French coins in choice mint state that were simply unavailable (when available at all) at the unrealistic levels listed in previous publications. It is hoped that the high prices listed for French coins in choice uncirculated condition will inspire the domestic French market to be more discerning in their grading. This book is an open challenge to French numismatists for them to examine modern (say, coins of Louis XIII to date) coins with American eyes. This is not to say that they should take American certified grading as an absolute standard. On the contrary, such grading has been shown to be wildly erratic and undependable. Collectors should learn for themselves how to grade as best they can, and use their own eyes.
For years, many American collectors of French coins have baffled French dealers with their seemingly arbitrary grading whims. The reason for this lies not with any fault in the French, but rather with numismatics in the United States. Very few American coins are of real absolute rarity. The vast American collector market focuses, therefore, on quality. The large number of American coins minted permits the American collector to be very selective: he is very demanding when it comes to grade of preservation. To call a coin "nice uncirculated" isn't enough. The American collector wants to know: not just how nice, but exactly how nice. This has led to the numerical mint state grading system which has caused so much confusion in other countries. Many French coins are so rare in high grade that not enough of them have been on the market for there to be a set price structure. A coin described as "SUP à FDC" could well be the finest anyone has seen in years of a given issue, and therefore no one in France asks if it would be the equivalent of an American AU-58 or an American MS-65. The fact is, however, that it does matter.
The world is getting smaller, and contact among numismatists of all countries will only increase. French coins are enormously popular in the United States and Japan, as well as to a lesser degree in Germany, China and Russia. The huge price swings in American coins, depending on their grade, is practically universally known. These price swings do not yet exist in the domestic market for French coins. It is only a question of time before this situation changes. The internet has been a factor of great influence here. Our own site, www.HA.com, gets close to one million unique visits each month. Collecting is not a small niche any more. People can follow our auctions live in real time from anywhere in the world now, and we no longer the only ones in numismatics to offer this. Even mail bid auctions, such as those of our French colleagues at cgb.fr, offer detailed scans of coins so that informed collectors can form accurate images of coins without necessarily having viewed them personally before bidding. Being able to discern small differences in quality is no longer exclusively the domain of those who have viewed an auction in person, although that is always the best of all alternatives.
The market in the United States has already adapted its own standards to its pricing for high quality French coins. Small increases in the quality of an uncirculated coin can mean a large increase in that coin's price. French dealers will note this and take advantage of it, if only for purely economic reasons. French collectors will soon do likewise, or else watch their best coins go into collections in other countries. This book, by French numismatists familiar with American coins and the American coin market, is an attempt to bring the future of French numismatics a little closer. Its intention is to put the domestic French market on an equal footing with its American counterpart and show, to quote Marvin Gaye, "what's goin' on."
Respectfully submitted
Marc D. Emory
Director of Overseas Operations
Heritage Rare Coin Galleries
Dallas, Texas, U.S.A.
LE FRANC 10, quoi de nouveau ?
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