1 Écu d'argent Neuchâtel

Huguenin Frères of Le Locle has been striking medals and fantasy pieces for well over a century, and this écu falls squarely in their tradition of privately issued silver pieces that occupy the ambiguous space between commemorative medal and notgeld-adjacent token. Neuchâtel canton never issued circulating coinage under its own authority in the modern Swiss federal period — that right consolidated to Bern in 1850 — so pieces like this carry no monetary mandate whatsoever.

The X# prefix in Krause confirms its classification as a non-circulating local issue. Collectors should note Huguenin produced multiple écu types across different years, and series attribution without the specific reference number invites misidentification.