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10 000 Francs Assignat

Issuer French Republic (Assignats)
Year 1795
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Currency Franc (1795-1959)
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Protection type Watermark
Protection description Watermark reading 10000, RÉPUBLIQUE FRANÇAISE, and Liberté ou la mort
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Comments

The assignat program, launched in 1789 as a bridge solution backed by confiscated Church and émigré property, had by 1795 collapsed into one of history's more instructive hyperinflationary disasters. This 10,000-franc denomination — unthinkable in the early Revolutionary years when assignats circulated as modest land-backed certificates — exists precisely because earlier issues had been printed in such volumes that face values had to keep escalating to keep pace with purchasing-power destruction. By early 1796 the entire assignat system was formally abolished, with outstanding paper worth fractions of a percent of face value.

Counterfeiting was a persistent and politically weaponized problem throughout the series; Britain ran organized forgery operations as deliberate economic warfare.

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