When Did Switzerland Start Using the Franc As Currency?

When Did Switzerland Start Using the Franc As Currency?

When Did Switzerland Start Using the Franc As Currency?

The Swiss Franc became the nationally recognized currency of Switzerland in conjunction with the Federal Coinage Act of 1850. It wasn't till 1907 that the currency was actually printed. The Swiss Franc is the national currency of Liechtenstein and Switzerland.

The Swiss Constitution was enacted in 1848. This created a need for a national currency, resulting in the currency legislation of 1850. Prior to 1850, Switzerland was made up of 75 entities and 25 cantons, each or which had its own set of coins. Private banks added to the complication by issuing their own banknotes as well. The Swiss Franc is renowned as a stable currency, as up until 2000, fiscal laws dictated that 40 percent of the currency in circulation was pegged to gold holdings.