Preliminary identification

Belgium 1 Franc Coin, 'Bon Pour' Emergency Token Issue, 1923

Photo reference

2 uploaded photos

Overview

This is a nickel-brass 1 Franc coin minted in 1923, featuring the French-language legend 'BELGIQUE' on the obverse and 'BON POUR 1 F' on the reverse. Designed during a period of severe post-WWI economic instability, it features the seated figure of Ceres, the Roman goddess of agriculture, and the caduceus of Mercury, representing commerce.

Story

Struck in 1923, this coin is actually an official emergency token. Devastated by World War I, Belgium replaced its hoarded silver currency with these 'Good For' tokens to keep the daily economy from collapsing.

Maker / Origin

The coin was designed by the celebrated Belgian sculptor and medalist Armand Bonnetain (1883–1973). Bonnetain was renowned for his elegant, low-relief Art Deco style, which brought a modern, sophisticated aesthetic to Belgium's everyday coinage during the interwar years.

Condition & Value

The coin shows moderate circulation wear consistent with its age, featuring some softening of the fine details on Ceres' hair and the caduceus. There is light surface dirt and minor scratching, but no major gouges or corrosion. This circulated condition keeps its value at the baseline level.

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Sold comps, value drivers, and venue guidance pulled from recent auction results.

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Market Analysis

Comparable demand stays strongest where maker, originality, and venue confidence line up. Broader examples still trade, but the range tightens quickly when provenance, condition, or selling lane fit is missing.

Value Drivers

  • Strong maker attribution with credible period details
  • Better-than-average condition for the category
  • Broader demand rises when presentation and finish feel intact

Concerns

  • Decorative-only demand limits the ceiling
  • Surface wear or missing provenance can compress the range fast
  • Regional sale lanes often underperform specialist venues

Best Venue

Specialty auction or a focused dealer with buyers already in this lane.

Comparable Sales

5 comps
Regional auction· Jun 2024
$1,280

Signed example with light edge wear and original frame.

Dealer archive· Mar 2024
$1,450

Comparable format with stronger provenance and cleaner surface.

Marketplace sale· Jan 2024
$980

Smaller related piece with visible craquelure and trimmed margins.

Estate platform· Oct 2023
$1,150

Period match with softer condition and weaker subject matter.

Auction result· Aug 2023
$1,375

Close market lane comp with similar material and presentation.