20 Francs - Rainier III

Monaco's postwar coinage was entirely dependent on French minting authority — the Monnaie de Paris struck all Monégasque issues under agreement, as the principality has never operated its own mint. The 1950–1951 copper-aluminium issues were among Rainier III's first coinage after his accession in 1949, following the death of Louis II, and represent the earliest circulating pieces to bear his portrait.

The copper-aluminium alloy was a deliberate postwar economy, the same metal philosophy driving French coinage of the same period.