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25 Centimes Perpignan

Issuer Chambre Syndicale des Commerçants de Perpignan
Year 1917-1924
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Value 25 Centimes (0.25)
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Obverse description The municipal coat of arms of Perpignan occupies the central field, displaying a lozenge-shaped shield bearing a standing armoured figure (Saint John the Baptist) holding a cross, superimposed on a vertically striped background. The shield is surmounted by a mural crown and flanked on either side by crossed olive or palm branches forming a wreath. The city name PERPIGNAN curves along the upper arc of the scalloped flan, while the date 1921 appears in the lower field beneath the wreath.
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Issued by the Chambre Syndicale des Commerçants de Perpignan, this is French nécessité coinage — emergency token money produced by local merchant associations to fill the vacuum left when small-denomination state coinage effectively vanished from circulation during and after the First World War. Hoarding, metal requisitions, and the suspension of the Paris Mint's normal output forced hundreds of French chambers of commerce and trade syndicates to issue their own fiduciary tokens. Perpignan's series ran across multiple die varieties, documented under at least four separate El Mon. reference numbers, suggesting several distinct emission campaigns over the seven-year span.