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France (987-996) Denier Hugh Capet Dup-1 Beauvais Mint, PCGS AU55.. Click image to enlarge.

Sometimes an empire dies in a whimper; sometimes, in that same energy, a new empire begins – one that can grow into something substantial. In a recent submission came a coin that serves as a relic of the start of a new dynasty – one that would last for more than 800 years.

The Carolingian Empire was founded before Holy Roman Emperor Charlemagne’s rule, and under Charlemagne was the unification of the Frankish Empire and lands. The Empire ended rule in West Francia in 987 AD, when Louis V died childless in a hunting accident leaving the throne vacant. By this time, Louis V nicknamed “The Do-Nothing” and his father Lothar had weak control of what was once a major empire, now controlling only scattered areas of land that included Laon and Orleans as well as surrounding areas; this left other nobles with much larger influence and power. The empire fell to two main candidates: Charles of Lower Lorraine (the uncle of Louis V and the last legitimate male heir to the Carolingian Empire) and Hugh Capet. Born around 940, Capet was son of Hugh the Great, a powerful noble (Duke of the Franks and Count of Paris) and Hedwig of Saxony (the sister of Emperor Otto I). He had inherited the Robertian family lands and titles, making him the most powerful magnate in northern France, including Duke of the Franks, Count of Paris, Orleans, and many abbeys.

In 987, after the death of Louis V, an assembly of magnates elected Capet as the new king. The Archbishop of Adalbero justified the rule by “The throne is not acquired by hereditary right…crown him who is most distinguished by his noble birth, wisdom, and good faith.” Charles of Lorrain contested the election and with his eventual capture in 991 and subsequent imprisonment, he died incarcerated in 995 and ending the last Carolingian threat.

Capet ruled from 987 until his death in 996. While he had limited royal domain, he had a strong alliance with the Church and great vassals. In 988, Capet crowned his son Robert (Robert II “The Pious”) co-king to ensure his family dynastic continuity. This standard created the Capetian Dynasty, which would rule from 987 to 1328 in a direct line of succession. Branches would rule France until 1848. While he was a minor king in terms of power his dynasty’s longevity makes him one of the most consequential figures in French history.

A coin from Capet’s reign was submitted at a recent PCGS grading event in Paris. The coin was struck between 987 and 996 and is a silver denier from the Beauvais Mint, located about 50 miles outside of Paris. The coin is listed as Duplessy-1, the very first coin in the reference book. The specimen was graded PCGS AU55, this series is not terribly rare – an average example currently sells for less than $1,000USD. However, it is an incredible artifact of history – a starting point for a dynasty. In that sense, the coins are priceless.