500 MGA – 2004

1. Overview

• Issuer: Republic of Madagascar (Numista)
• Issuing Bank / Authority: Banky Foiben’i Madagasikara – Central Bank of Madagascar (Numista)
• Period: Third Republic (1992 – 2010) (Numista)
• Type: Standard circulation banknote (Numista)
• Years of Issue: 2004 – 2017 (design dated 2004) (Numista)
• Face Value: 500 Ariary = 2 500 Malagasy Francs (Numista)
• Currency: Ariary (MGA), in use since 2003 (Numista)
• Composition: Paper (Numista)
• Dimensions: 132 × 66 mm (Numista, Smithwick Numismatics)
• Shape: Rectangular (Numista)
• Demonetized: Yes — withdrawn from circulation on 31 December 2020 (Numista)
• Catalogue Reference: Pick #88 (Numista)

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2. Design and Imagery

Recto (Obverse)

• Main Scene: Basket‑maker (vannier) weaving a basket on the left; his shop in the center displaying bags, hats, and baskets (Numista)
• Theme: Malagasy craftsmanship and artisanal economy (Smithwick Numismatics)
• Text: BANKY FOIBEN’I MADAGASIKARA and DIMAN‑JATO ARIARY

Verso (Reverse)

• Main Scene: Cattleman with a herd of zebus (Bos indicus), symbolizing rural life and livestock farming (Numista)
• Theme: Agriculture and pastoral traditions (Smithwick Numismatics)
• Text: Denomination in Malagasy and French

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3. Security Features

• Watermark: Zebu’s head with electrotype “500” (Numista)
• Security Thread: Embedded, with micro‑text “BFM 500” (Numista)
• Microprinting & Microtext: Incorporated into design (Smithwick Numismatics)
• Omron Rings: Visible under magnification (Smithwick Numismatics)
• UV Features: Fluorescent elements visible under ultraviolet light (Numista)

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4. Production Details and Variants

• Printer: Not explicitly stated in public sources; produced for the Central Bank of Madagascar (Numista)
• Variants:
  • 2004 – Signature Gaston Edouard Ravelojaona — ~42 million printed (Numista)
  • 2004 – Signature Frédéric Rasamoely — ~168 million printed (Numista)
  • 2004 – Signature Alain Herve Rasolofondraibe — quantity not specified (Numista)
  • Replacement notes (prefix Z/Z) and specimen issues also exist (Numista)

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5. Cultural and Historical Notes

• Economic Context: Part of the first full Ariary‑denominated series after the 2003 currency reform replacing the Malagasy Franc (Numista)
• Symbolism:
  • Basket‑making scene highlights traditional Malagasy craftsmanship and the informal economy
  • Zebu herd underscores the cultural and economic importance of cattle in Madagascar (Smithwick Numismatics)
• Withdrawal: Retired in 2020 as part of a modernization program introducing updated designs and enhanced security features (Numista)

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Summary Table

Feature	Details
Issuer	Republic of Madagascar
Issuing Bank	Banky Foiben’i Madagasikara (Central Bank of Madagascar)
Period	Third Republic (1992 – 2010)
Type	Standard circulation banknote
Years of Issue	2004 – 2017
Value	500 Ariary = 2 500 Malagasy Francs
Currency	Ariary (MGA)
Composition	Paper
Size	132 × 66 mm
Shape	Rectangular
Demonetized	Yes — withdrawn 31 Dec 2020
Obverse Design	Basket‑maker weaving, shop with artisanal goods
Reverse Design	Cattleman with herd of zebus
Watermark	Zebu’s head + electrotype “500”
Security Features	Watermark, security thread with micro‑text, microprinting, Omron rings, UV features
Printer	Not publicly stated
Variants	2004 Ravelojaona, 2004 Rasamoely, 2004 Rasolofondraibe; replacements; specimens
Cultural Notes	Highlights artisanal crafts and cattle farming; part of first Ariary‑only series