20 Franken - Franz Josef II

Liechtenstein has no mint of its own and has historically contracted production to Bern. This 1946 issue was struck at the Swiss Federal Mint, a relationship the principality depended on throughout the twentieth century for all its coinage needs. Franz Josef II, who came to power in 1938, used these gold issues partly to assert a quiet financial independence — Liechtenstein had formally ended its customs union with Austria after WWI and aligned itself economically with Switzerland, a pivot that shaped every aspect of its monetary output for decades.

Mintage for the 1946 date was extremely limited, and the coin saw essentially no circulation.