20 Lei 10th Anniversary of reign of Carol II

Carol II commissioned this commemorative issue a year late — his actual accession fell in 1930, making 1939 a politically convenient rather than mathematically precise anniversary. By then, Carol had dissolved the constitution, outlawed political parties, and established his Royal Dictatorship under the "Front of National Rebirth." The coin was as much propaganda currency as commemorative object.

Struck in limited numbers for presentation and collector purposes, genuine circulation examples are essentially nonexistent. The Fr#16 designation places it firmly within the French reference framework for Romanian gold, which catalogued these issues alongside the standard 20 Lei coinage of the same alloy specification.