Bona (assignat) of the French Revolution period with a face value of 25 soles, 1792

An original and rather rare banknote of the end of the XVIII century in excellent condition. The size is 60*100 mm. Guarantee of authenticity.

Assignats (French assignats from Latin assigno — "assign") are paper money from the period of the Great French Revolution. Initially, they were issued as obligations secured by state property and generating income in the form of interest, that is, they combined the features of a privatization check and bonds. They were first issued in France with a face value of 1,000 livres in the amount of more than 400 million livres, then they were issued in small bills. They were in circulation from 1789 to 1797. Assignats were declared legal tender, circulated on a par with metal coins, and since 1793 they have been the only legal tender. Already in January 1790, that is, immediately after the appearance of banknotes, they were worth only 96% of their face value in metal money. Subsequently, as the next batches of freshly printed paper money were issued, the exchange rate of banknotes fell at an ever-increasing rate. In January 1791, they were worth 91% of face value, in January 1792 - 72%, in January 1793 - 51%, in January 1794 — 40%, in January 1795 — 18%, July 2, 1795 — 2.97%, November 3, 1795 — 0.87 % and on February 22, 1796 — 0.29%.

On April 25, 1795, transactions made with metal money were again allowed. In February 1796, the issue of banknotes ceased. The difficult financial situation forced the resort to a new issue. In March of the same year, a law was passed on the issue of new paper money — territorial mandates (sometimes also called assignats). In 1797, a law was passed declaring all paper money in circulation invalid.