A landmark project for French savings
On 26 May 2026, in the presence of Roland Lescure, Minister for the Economy, Finance and Industrial, Energy and Digital Sovereignty, the Monnaie de Paris officially unveiled its French-style bullion coin: the “Marianne-Or”. This new instrument, a pure gold investment coin with legal tender status, marks the return of the thousand-year-old institution to the investment gold market, with a clear ambition: to offer savers and investors a tangible, secure asset that is competitive with international benchmarks (Krugerrand, American Eagle, Maple Leaf).
Available in physical or dematerialised form, the Marianne-Or will go on sale to the general public from 16 June 2026 via the dedicated platform investissement.monnaiedeparis.fr. This product meets a growing demand for safe-haven assets, against a backdrop of increased market volatility and a historic rise in the price of gold (+65% in 2025, reaching a record high of nearly 5,600 dollars per ounce in January 2026).
Franklin’s expertise at the heart of regulatory and financial challenges
Its work focused in particular on:
- analysing the transaction in light of the regime governing the intermediation of miscellaneous assets (Articles L. 550-1 et seq. of the Monetary and Financial Code), the relevant contractual framework and the principles of civil law;
- discussions with the French Financial Markets Authority (AMF) regarding the registration of the offer under reference D-26-01 (27 January 2026), ensuring its compliance and transparency for investors;
- the legal classification and structuring of the dematerialised offering (e-Marianne), based on the storage of the gold by the Monnaie de Paris and a buy-back commitment;
- the integration of physical and dematerialised formats, to ensure optimal accessibility whilst complying with the legal frameworks in force;
- the regulatory and pre-contractual documentation, as well as the general terms and conditions governing the methods of holding, safekeeping, delivery and repurchase, and the marketing materials.
“This project perfectly illustrates our commitment to supporting public institutions and economic stakeholders in financial innovation, without compromising legal certainty. The Marianne-Or represents a major step forward for French savings, and we are delighted to have contributed to its success alongside the Monnaie de Paris.” Stéphan Alamowitch, Partner and Head of the Banking & Finance department at Franklin.
The Monnaie de Paris was advised by:
- Franklin, with a team led by Stéphan Alamowitch, Partner, comprising Mathilde Monot, Of Counsel, for banking matters, and Jacques Messeca, Partner, and Axel Boutoille, Associate, for tax matters.
- EY
- CMS Francis Lefebvre
