Under Louis XV, mintage of the Louis d’or was at first reduced while John Law introduced paper money. After Law’s system failed and Cardinal Fleury became Louis XV’s chief magistrate in 1726, France returned to a policy of sound money and the mintage of the Louis d’or returned to normal levels. The weight of the Louis d’or was now increased, it was revalued at 20 livres, and a commitment was made to maintain this valuation. This promise was kept until 1740 when the louis d’or was revalued to 24 livres, thereby effecting a 20% devaluation of the livre. This was the last devaluation until the French revolution replaced the louis d’or by the franc.
The Maltese cross as worn by French knights had fleur-de-lis between the branches, and the ribbon was black. Very RARE two year type! Only two specimens of this date/mintmark have been graded by NGC!