5 Francs Anniversary of the Confederation

The 1941 five-franc piece commemorates the 650th anniversary of the Swiss Confederation, dated to the traditional founding of 1291 — itself a retrospective construct, as the Federal Charter of that year wasn't treated as a foundational document until the 19th century. The timing of this issue, released during the German occupation of neighboring France and with Switzerland effectively encircled by Axis powers, gave the anniversary a pointed political weight that the mint's official language carefully avoided acknowledging.

Only 319,000 pieces were struck, making this one of the lower-mintage entries in the commemorative five-franc series.