1000 Francs CFA Bavaria

Benin's franc CFA coinage has been a vehicle for European collector-market issues since the 1990s, produced almost entirely for export with negligible domestic circulation. These pieces are struck under licensing arrangements — the issuing authority is nominal, the actual production typically contracted to European mints catering to the themed numismatic trade.

KM#94 falls squarely in that category. The Bavaria connection carries no historical relationship to Benin or the West African franc zone.