France bids farewell to the franc

French francs can be exchanged at the central bank for another 10 years

PARIS, France (CNN) -- At a Sunday market in Normandy, the French were spending their euros with abandon. In fact, even though it was the last day to spend French francs there were barely any to be found.

The butcher said he had not seen a franc in days, and the baker said she had just one customer -- who bought a loaf of bread with a 200 franc bill. "We'll be happy not to be making change in two currencies," she said.

In fact, while you might find a vegetable salesmen still calling out the prices in francs, according to the French Central Bank, by last week more than 70 per cent of the French francs were already out of the monetary system.

And while now you can no longer spend French francs, you can still exchange them at the central bank for another 10 years.

MORE STORIES In-Depth: Euro makes its mark    VIDEO France bids farewell to its 641-year-old currency. CNN's Jim Bittermann reports (February 18) Play video (QuickTime, Real or Windows Media)

Though I did find a woman selling sweets who said she would still accept francs from children for another few days.

Even if the French have adopted the euro, at least two out of five, according to a poll released over the weekend, are nostalgic for their old money.

After more than 640 years slipping through their fingers and into their pockets it is probably no surprise the French grew attached to their francs. In any case that is certainly the hope here in the small town of Franqueville-Saint Pierre.

The energetic Mayor here just got the good news that Franqueville has been selected for the site of a monument and museum dedicated to the franc.

Now all he has to do is raise two point three million euros -- that's 15 million francs -- to transform this site and others and his town will become a tourist magnet for those who miss their old money.

In fact exactly how one should observe the passage from one currency to another, something which rarely happens willingly, must have taxed minds at the French finance ministry as they created a ceremony marking the occasion.

The prime minister set the tone: "The French people went to the euro telling themselves, We are not loosing a money but gaining one."

And with that, brief fireworks and the European anthem, franc flags at the ministry were lowered into oblivion while the euro banners waved on, after which, this being France, everyone retired for a congratulatory glass of Champagne.

And by the way, if you needed further proof the franc is well and truly finished, on leaving, each guest at the cermony was given a half million francs to take home. Well shreded and compressed to be sure.