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Protectorate of Annam
Indochina Piastre
安南保護國
印度支那皮亞斯特
Item number: A2834
Year: AD 1899
Material: Copper
Size: 19.9 x 19.9 x 0.6 mm
Weight: 7.7 g
Manufactured by: Paris Mint
Provenance: Fuchin Coin 2020
This is a low-denomination copper coin issued in AD 1899 for circulation in the Protectorate of Annam (Central Vietnam), under French colonial administration.
The coin adopts the traditional square-holed design characteristic of East Asian currency, reflecting Vietnam’s deep cultural ties to the Sinosphere; in French, this type of coin is referred to as a sapèque. The obverse features a circular French inscription reading “INDO-CHINE FRANÇAISE” (French Indochina), along with the year of issue, “1899.” Above the date is the mintmark “A,” indicating that the coin was struck at the Paris Mint.
The reverse of the coin bears the inscription “大法國之安南” (“Annam of Great France”) in Chữ Hán script, arranged along the upper and lower edges. The denomination “當二” (“Value Two”) is inscribed vertically on the left and right sides. Unlike other Piastre denominations marked in French, this coin, denominated in Chữ Hán script, reflects its primary usage in small-scale trade within colonial communities rather than direct engagement with governing authorities for significant economic transactions such as taxation and lending.
In AD 1862, the Nguyen Dynasty of Vietnam ceded Cochinchina (southern Vietnam) to France, laying the foundation for French colonialism in Vietnam. In AD 1875, the newly established Banque de l’Indochine was granted authorization by the French government to issue a new currency, the Piastre, in the colonial territories. In AD 1887, France consolidated its control over Tonkin, Annam, Cochinchina, and Cambodia (later joined by Laos) to formally establish the “Union of French Indochina.”
At that time, alongside the Piastre, various foreign currencies such as Mexican pesos, US dollars, and Indian rupees circulated in the colonial territory, alongside old copper coins issued by the Nguyen Dynasty of Vietnam. These competing currencies challenged France’s financial order in the colony.
Under the leadership of the financially astute Paul Doumer during his tenure as Governor-General of French Indochina, significant reforms were undertaken to strengthen economic control over the colonies. By the time of his departure in AD 1903, measures were implemented to enforce the use of the Indochinese Piastre in trade, under the gold standard system, thereby prohibiting the circulation of foreign currencies or the currency of the former Nguyen Dynasty within the colony.