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Gold Francs of the UPU (francs d'or)



 
 
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  #1  
Old February 22nd 12, 01:22 AM posted to rec.collecting.stamps.discuss
Blair (TC)
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Posts: 2,199
Default Gold Francs of the UPU (francs d'or)

A few postings ago, there was a discussion about Gold Francs (francs
d'or) of the UPU. Here are some more results of my research.

Historically the value of the Gold Franc was based on a French law of
1803.
1 Gold Franc was set at 10/31 of a gram of gold (.900 fine) or .
29032258 gram of pure gold.

At the UPU Congress in Rio (1979), a rate of 3.061 Gold Francs = 1
Special Drawing Right (SDR) was set for UPU purposes. The SDR is a
unit defined by the International Monetary Fund (IMF). Its value
compared to various currencies, varies daily.

At the UPU Congress in Washington (1989), it was agreed to eliminate
the references to Gold Francs and that all international postal
terminal fees would be expressed in SDR only.

To find the latest value of the SDR (and Gold Franc) you can go to :
http://coinmill.com/SDR_calculator.html#SDR=.3266906

As of 14 February 2012, one Gold Franc was worth:
Euros 0.3840019
GB Pounds 0.3212391
US Dollars 0.5056491

As of 14 February 2012, one SDR was worth:
Euros 1.17543
GB Pounds 0.983313
US Dollars 1.54793

For me, the easiest (slightly less accurate) rates to use are :
3 Euros = 8 Gold Francs
1 GB Pound = 3 Gold Francs
1 US Dollar = 2 Gold Francs

I hope that this is helpful to you.

Blair

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  #2  
Old February 22nd 12, 04:49 AM posted to rec.collecting.stamps.discuss
Victor Manta
external usenet poster
 
Posts: 1,240
Default Gold Francs of the UPU (francs d'or)

"Blair (TC)" wrote in message
...
A few postings ago, there was a discussion about Gold Francs (francs
d'or) of the UPU. Here are some more results of my research.

Historically the value of the Gold Franc was based on a French law of
1803.
1 Gold Franc was set at 10/31 of a gram of gold (.900 fine) or .
29032258 gram of pure gold.

At the UPU Congress in Rio (1979), a rate of 3.061 Gold Francs = 1
Special Drawing Right (SDR) was set for UPU purposes. The SDR is a
unit defined by the International Monetary Fund (IMF). Its value
compared to various currencies, varies daily.

At the UPU Congress in Washington (1989), it was agreed to eliminate
the references to Gold Francs and that all international postal
terminal fees would be expressed in SDR only.

To find the latest value of the SDR (and Gold Franc) you can go to :
http://coinmill.com/SDR_calculator.html#SDR=.3266906

snip for brevity


Interesting. Thanks, Blair!

"It was originally based on the Swiss franc, and remained at the value the
Swiss franc was pegged (0.290g fine gold) after the Swiss franc came off the
gold standard."

The idea of a Gold Franc reappeared in a new form in 2011 in Switzerland.
For more eventually read he

http://en.wikipedia.org/wiki/Gold_franc

--
Victor Manta, PWO, AIJP

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