5 Centimes - Chambre Syndicale des Commerçants - Perpignan [66] Copper

French emergency token coinage proliferated after World War I when chronic metal shortages and hoarding left small change effectively absent from daily commerce. Chambers of commerce and trade associations across France filled the gap with their own locally issued tokens, authorized under a broader tolerance that lasted well into the 1920s. Perpignan's trade federation was among the later issuers, striking this piece in 1924 — by which point the national monetary system had largely restabilized, making it one of the tail-end examples of the phenomenon rather than a wartime necessity.