# Use of Gold Franc in Traffic Accounting



## andysk (Jun 16, 2005)

In a conversation the other day about the Euro falling apart, the use of the Gold Franc in traffic accounting came up, and I was wondering if anybody could throw any light on it's origins and demise ?

It always seemed to me to be a sensible way of preserving the national currencies, whilst having at the same time some form of internationally accepted single currency.

Was it associated with the GF referred to in Wikipedia (http://en.wikipedia.org/wiki/Gold_franc) or the one used by the UIC (http://en.wikipedia.org/wiki/UIC_franc)


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## NoMoss (Mar 14, 2007)

I used the Gold Franc conversion tables when I was at sea and had to keep accurate accounts for Marconi. After using a foreign coast station I would calculate the sterling rate converted from the GF rate. It always looked horribly expensive to me.
When working at a coast station ships would sometimes ask for our GF rate, which I am afraid I cannot remember, but I expect someone will be able to come up with it.
Having looked at both links, the 'virtual currency' one sound likely but I have a vague memory of it being connected to the Swiss franc, so I am no help I am afraid.


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## Erimus (Feb 20, 2012)

I understand that the Gold Franc is the international basis for charging out of satellite time between nations.......

geoff


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## Ron Stringer (Mar 15, 2005)

From Wikipedia, the free encyclopedia

The gold franc was the unit of account for the Bank for International Settlements from 1930 until April 1, 2003. It was replaced with the Special Drawing Right. It was originally based on the Swiss franc, and remained at the value the Swiss franc was pegged (0.29g/fine gold) after the Swiss franc came off the gold standard.

I believe that the Swiss came off the gold standard in 1936, several years after other trading countries such as the USA and the UK.


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## landoburns (Aug 15, 2006)

I seem to remember the ship charge was GF 0.40 per word when I was foreign flag in the mid 60's and 70's. At that time there was no "QRC" (like GB08, US01 etc.) in the preamble of the message and I often wondered how all the account settling to coast stations in remote areas all over the world was finally achieved. Even the rate of exchange to whatever currency the ship's crew was paid in never seemed to be up to date! Later SDR's arrived and it got even more confusing (?HUH)

I had one experience when I was R/O on the drillship Discoverer III/HORG and made some private calls for the rig personnel. I charged them in US$ and made up the accounts as I had done on merchant ships and sent them off to Houston office. A long while later I got a letter from Houston asking me "Who is this Mr HORG and who does he work for?" - I have no idea how or if the accounts were finally settled as the drillship owners did not even have a "QRC" (*))

In the List of Ship Stations, for those vessels under Panama flag, there were about 20 or so pages of addresses for settling companies - many of the addresses being PO Box numbers in Panama or Monrovia! I guess it was because there were so many delinquent payers that the "QRC" in the preamble was introduced (Scribe)


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## Varley (Oct 1, 2006)

landoburns said:


> I seem.... and I often wondered how all the account settling to coast stations in remote areas all over the world was finally achieved]
> 
> I can make a stab at this question. In a word settlement was very, very slow. All (?) radio companies billed the owner based on accrual figures submitted by the R/O and did so very promptly.
> 
> ...


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