Gold Ecu with sun - Francis I 2nd type, 3rd emission, internal beaded circle

The écu au soleil was established by Louis XI in 1475 and remained France's dominant gold denomination for over a century, but it was Francis I who oversaw its most politically charged emissions. The years covered by this issue span the entirety of his rivalry with Charles V — the Italian Wars, the disaster at Pavia in 1525, and Francis's captivity in Madrid — periods during which royal finances were under extraordinary strain and gold coinage served as the principal instrument of war subsidies and diplomatic payments.

The internal beaded circle distinguishing this 3rd emission was introduced as a control feature, not an aesthetic choice. Duplessy's Dy#771A attribution remains the standard reference, though attribution between emissions can be genuinely difficult without examining the specific mint mark.