In April 1795, in the 3rd year of the French Republic, the National Assembly created a new currency. From now on, the franc was to be the standard coin in France. The franc was one of the most modern currencies of the time, for it was divided decimally: 1 franc was equal to 10 decimes and 100 centimes. For lack of silver, the first 1 franc-pieces were minted only in the 11th year of the revolutionary calendar (September 1802-September 1803) – after the First Consul of France, Napoleon Bonaparte, and his revolutionary armies had raised the necessary financial means by plundering several European countries. The obverse of the first franc of the Republic of France accordingly depicted the bust of Napoleon.