France - Napoleon (Consul)

In November 1799, Napoleon was elected as First Consul and then he was declared Consul for life in August 1802. Shortly after his first coins were minted.

Coinage of this period follows the French Republican calendar, which is defined starting 22 September 1792 (the day after the First French Republic was declared) as the beginning of the first year (AN 1). French coinage used the latin numerals (i.e., 8, 9, 10), but for the coinage in year 11, Napoleon directed the mint to use the roman numeral “XI” instead. He was concerned that AN 11 resembled AN II, the year of the Reign of Terror and the association would make for inauspicious symbolism for his first coins.

The coinage standard used in Napoleon’s first French coins was formalized in April 1803. Thus, year ANXI (11) coins were minted over about five months.

Year Period
ANXI (11) April 1803 - 23 Sept 1803
AN12 24 Sept 1803 - 23 Sept 1804

Circulation Coins

Underlined text links to Numista
Certain images are clickable for more detail

20 Francs

1802-1803 (ANXI - AN12)


(Image: Dorotheum Nov 2019)

Demi Franc (1/2 Franc)

1802-1803 (ANXI - AN12)

Quart (1/4 Franc)

1802-1803 (ANXI - AN12)

< 20 Francs Consul - Top Graded Population >

Year
(PCGS/NGC)		 MS61 MS62 MS63 MS64 MS65 Total
AN IX - / 1 1 / 1 2 / 1 - / - 1* / - 4 / 3
AN 12 6 / 7 8 / 10 3* / 3* - / 1 - / - 17 / 21
Total 6 / 8 9 /11 5 / 4 0 / 1 1 / - 21 / 24

Note*: One PCGS MS63 AN12 is an Emperor mis-slabbed as Consul. One NGC MS63 crossed over to PCGS MS63 without being removed from the population.

ANXI MS65 is an essai / specimen (not a circulation strike)

< 40 Francs Consul - Top Graded Population >

Year
(PCGS/NGC)		 MS61 MS62 MS63 MS64 MS65 Total
AN IX 8 / 6 2 / 2 3 / 2 1 / - - / - 14 / 10
AN 12 4 / 14 1 / 5* 1 / 3 - / 4 - / - 6 / 26
Total 6 / 7 9 /11 6 / 4 0 / 1 1 / - 20 / 36

Note*: One NGC MS62 ANXI appears in the population twice (also as MS63+).

Compiled as of August 2025

< 20 Francs AN XI - Finest Examples >

Napoleon I’s first coin (AN XI) had a limited mintage of 58,262 and is by far the lowest mintage year of any of his 20 francs coin types. The coins were minted between April 1803 (declaration of the standard) and September 1803 (end of AN XI).

Only six are graded mint state (PCGS SP65+, MS63 x2; NGC MS63 x1, MS62 x1, MS61 x1).

Originally Compiled November 2024

PCGS SP65+ Cameo
(Essai / Specimen)

(Image: Stacks Aug 2024)

PCGS MS63

(Image: Stacks Aug 2025 / PCGS)

PCGS MS63

(Image: Unknown #2 of 2)

NGC MS63

(Image: NGC / Vinchon Dec 2023)

PCGS MS62
(Newly added 2025)

(Image: Farrando Apr 2025)

NGC MS62

(Image: MDC Oct 2020, Dorotheum Nov 2019)

NGC MS61

(Image: Numisor Oct 2022)

Ungraded “SPL”

(Image: Varesi Apr 2013)

Ungraded “EF62”

(Image: cgb Dec 2002)

< 20 Francs AN 12 - Finest Examples >

With a mintage of 988,244, the Premier Consul AN12 is one of the less common Napoleon I 20 franc types.

It is extremely rare in high grades. There are 40 examples graded in mint state (16 in PCGS and 24 in NGC, including at least one appearing in both). The MS60-MS61s are not included below.

[Update mid-2025: 2-3x added to PCGS (MS63 x1, MS62 1-2x), 1x added to NGC (MS63)]

Originally Compiled November 2024 (with updates)

NGC MS64

(Image: Stacks Apr 2005)

PCGS MS63

(Image: Gadoury Oct 2023)

PCGS MS63
(Crossover from NGC MS63)

(Image: PCGS / Tyrant Collection / CNG Aug 2014)

PCGS MS63
(Newly Graded 2025)

(Image: Stacks Mar 2025)

PCGS MS63
(Incorrectly Slabbed as AN12 Emperor)

NGC MS63

(Image: MDC Jun 2025)

NGC MS63
(Newly Graded 2025)

(Image: Kunker Oct 2025)

NGC MS63
Crossed over to PCGS MS63

(Image: n/a - ex. CNG Aug 2014)

PCGS MS62
(Newly graded 2024)

(Image: PCGS / Vinchon Dec 2023)

PCGS MS62

(Image: MDC Jun 2025 / MDC Oct 2023)

PCGS MS62
(Newly Graded 2025)

(Image: Stacks Aug 2025 / PCGS )

PCGS MS62
(Possibly newly graded in 2025)

(Image: Gadoury October 2025)

PCGS MS62

(Image: Unknown 1x (#5 of 8)

PCGS MS62

(Image: Unknown 3x (#6, #7, #8))

NGC MS62

(Image: Heritage Nov 2024)

NGC MS62

(Image: Gadoury Mar 2023)

NGC MS62

(Image: Atlas Numismatics 2024)

NGC MS62

(Image: Heritage Sep 2014)

NGC MS62

(Image: Gadoury Oct 2021)

NGC MS62

(Image: Kunker Mar 2016)

NGC MS62

(Image: Unknown 4x - #7-#10)

Note: The ungraded coins below may have later been graded and included above.

Ungraded UNC

(Image: NAC Dec 2022)

Ungraded UNC

(Image: Varesi Nov 2018)

Ungraded UNC

(Image: Hess-Divo Dec 2018)

Ungraded “Sup/FDC”

(Image: Elsen Dec 2017)

Ungraded

(Image: Cgb Jun 2016)

Ungraded “Superb”

(Image: Numismatica Genevensis Dec 2006)

< Error Coins >

Ungraded Rare Error (Mirror)

(Image: Heritage Jan 2019)

< 40 Francs AN XI - Finest Examples >

With a mintage of 253,000, the ANXI 40 francs is one of the relatively higher mintage years for the 40 francs.

Still, very few mint state examples exist graded (11 in NGC, 12 in PCGS), with one in NGC excluded as a duplicate. PCGS recognizes three varieties: Avec oliv, sans (without) olive, and sans olive/point. These refer to very minor differences above the “A” mint mark.


ANXI NGC: MS63 x2 (1 +), MS62 x2, MS61 x6, MS60 x2

ANXI PCGS:
Avec olive MS61 x2;
Sans olive MS64 x1, MS62 x3, MS61 x5;
Sans olive/point MS61 x1

Originally Compiled August 2025

Ungraded Proof

(Image: Numismatica Genevensis Dec 2008)

PCGS MS64 (Sans/Without Olive)

(Image: Stacks Aug 2025)

NGC MS63+
(Also graded as NGC MS62)

(Image: MDC Nov 2019)

PCGS MS62 (Sans/Without Olive)

(Image: MDC Oct 2023)

PCGS MS62 (Sans/Without Olive)

(Image: Tyrant Collection / Elsen 2014)

PCGS MS62 (Sans/Without Olive)

(Image: Unknown #3)

NGC MS62

(Image: MDC May 2024)

NGC MS62
(Resubmitted as NGC MS63+)

(Image: Heritage Sep 2018)

< 40 Francs AN 12 - Finest Examples >

With a mintage of 226,000, the ANXI 40 francs is one of the relatively higher mintage years for the 40 francs.

Graded mint state examples are about as uncommon as the 40 francs ANXI (NGC 27 examples, PCGS 6 examples).



AN 12 NGC: MS64 x4, MS63 x3, MS62 x6, MS61 x14

AN12 PCGS: MS63 x1, MS62 x1, MS61 x4

Originally Compiled August 2025

NGC MS64 Star

(Image: MDC Oct 2025 / Kunker Jun 2021)

NGC MS64

(Image: MDC Oct 2024 / Heritage Jan 2023)

NGC MS64

(Image: Nihon Jul 2021)

PCGS MS63
(Newly Graded 2025)

(Image: Stacks Mar 2025)

NGC MS63

(Image: Heritage Jan 2018)

NGC MS63

(Image: Unknown #1)

NGC MS63

(Image: Unknown #2)