1 MGA – 1966

1. Overview

• Issuer / Issuing bank: Republic of Madagascar, issued by the Central Bank of Madagascar (Banky Foiben’i Madagasikara) (Wikipedia).
• Period: First Republic of Madagascar (1958–1975) and into the Second Republic (1975–1992) (Numista, Wikipedia).
• Type: Standard circulating coin.
• Years of Issuance: From 1966 to 1989 (Numista, Wikipedia).
• Value / Currency: Denomination of 5 Francs, equivalent to 1 Ariary (1 Ar = 5 Francs) (Numista, Wikipedia).
• Composition: Made of stainless steel (Numista, Foronum).
• Weight: Approximately 5 g (Numista, Hobby of Kings).
• Diameter: Ca. 22 mm (some sources state 22.10 mm) (Numista, Foronum).
• Thickness: About 1.94 mm (Numista, Hobby of Kings).
• Shape: Round, with plain edge (milled technique) (Numista, Hobby of Kings).
• Orientation: Coin alignment (↑↓) (Numista).
• Demonetized?: This coin is no longer in circulation—while never officially demonetized at a specific date, it ceased to be issued after 1989 and has been superseded by newer Ariary denominations (Wikipedia).

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2. Design & Imagery

• Obverse (Recto): Displays a poinsettia flower above the date. The legend reads “FAMOAHAMBOLAN’NY REPOBLIKA MALAGASY” (Republic of Madagascar) in Malagasy (Numista, Hobby of Kings, Wikipedia).
• Reverse (Verso): Features the denomination 5 FRANCS and ARIARY within the stylized horns of an ox (zebu) head, with decorative sprigs flanking the image (Numista, Hobby of Kings, Wikipedia).
• Engraver: Designed by Raymond Joly for both obverse and reverse (Numista).

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3. Security Features

Standard minting techniques of the era were used; as a low-denomination stainless steel coin, it includes no sophisticated anti-counterfeiting features. Its security relied on routine mint quality control.

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4. Production Details & Variants

• Mint: Struck at Monnaie de Paris, France (Paris and, post-1973, Pessac), bearing the appropriate mintmarks (Numista, Wikipedia).
• Mintmarks / Artisans: Earlier issues (pre-1974) carry the “owl” mark of Raymond Joly, later issues (post-1974) have the “dolphin” mark of Émile Rousseau (Numista).
• KM Reference: Cataloged as KM #10; Numista catalog number 1849 (Numista, Foronum).
• Mintage: For 1966, estimated mintage is around 5,000,000 coins (Numista).
• Variants: The coin design remained consistent throughout its issuance; no major variant known beyond the change in mint engraver’s mark (Numista, Wikipedia).

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5. Cultural & Historical Notes

• The Ariary is one of the world’s rare non-decimal currencies, subdivided into 5 iraimbilanja (where 1 iraimbilanja matches the franc) (Wikipedia, Wikipedia).
• Between 1961 and 2005, coins and banknotes displayed values in both Francs and Ariary, reflecting the gradual shift from colonial currency (Wikipedia, Wikipedia).
• The poinsettia and zebu carry symbolic weight: the poinsettia evokes local flora; the zebu is a powerful cultural and economic symbol central to Malagasy identity and agrarian life.
• With eventual currency reform—officially replacing the franc with the ariary in 2005—the coin’s double denomination became obsolete (Wikipedia, Wikipedia).

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Summary Table

Feature	Details
Issuer	Republic of Madagascar
Issuing Authority	Central Bank of Madagascar
Period	First–Second Republic (1958–1992)
Years Issued	1966–1989
Denomination	5 Francs / 1 Ariary
Composition	Stainless steel
Weight	~5 g
Diameter	~22 mm
Thickness	~1.94 mm
Shape & Edge	Round, plain edge (milled)
Obverse Design	Poinsettia, date, “FAMOAHAMBOLAN’NY REPOBLIKA MALAGASY”
Reverse Design	Zebu horns framing denomination, sprigs
Engraver	Raymond Joly
Mint	Monnaie de Paris (owl/dolphin marks)
Variants	Mint engraver mark changed; design otherwise stable
Security Features	Standard minting—no advanced security
Cultural Notes	Non-decimal currency, bicameral denomination, national symbols