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Picture of the day
An
assignat
banknote, issued in 1792, with a face value of 400
livres
. An early French banknote first issued in 1789, during the
French Revolution
, the assignat was backed by the value of
seized properties
. Amidst widespread counterfeiting, limited use, and opposition from counter-revolutionaries, the assignat devalued quickly and was replaced by the
mandat
in 1796.
Banknote: République Française; image courtesy of the
National Numismatic Collection
at the
National Museum of American History
(
Smithsonian Institution
)
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