10 MGA – 1964
$ 80
An emblematic issue of Madagascar’s early post‑independence currency, the 10 Ariary / 50 Francs banknote of 1964 presents on its obverse the finely engraved likeness of a Malagasy woman in traditional attire framed by lush botanical motifs, while the reverse depicts a rural river scene with a hat‑wearing Malagasy man, a moored boat, and village dwellings in the background; produced on quality paper by the Banque de France, the note incorporates a portrait watermark and intricate intaglio detailing to ensure authenticity.
1. Overview
- Issuer: Republic of Madagascar (Numista)
- Issuing Bank / Authority: Institut d’Émission Malgache (Numista)
- Period: First Republic (1958 – 1975) (Numista)
- Type: Standard circulation banknote (Numista)
- Years of Issue: 1964 – 1973 (Numista)
- Face Value: 10 Ariary = 50 Malagasy Francs (Numista, Academic Dictionaries)
- Currency: Malagasy Franc (MGF), in use 1963 – 2004 (Numista, Academic Dictionaries)
- Composition: Paper (Numista)
- Dimensions: 120 × 80 mm (Numista)
- Shape: Rectangular (Numista)
- Demonetized: Yes (exact date not specified in public records) (Numista)
- Catalogue Reference: Pick #61 – Standard Catalog of World Paper Money (Numista)
2. Design and Imagery
Recto (Obverse)
- Main Portrait: Malagasy woman wearing a hat, positioned to the right (Numista)
- Motifs: Botanical frame surrounding the central design (Numista)
- Text:
- INSTITUT D’ÉMISSION MALGACHE
- FAMOAHAM-BOLAN’NY REPOBLICA MALAGASY
- Denominations in Francs and Ariary (CINQUANTE FRANCS / ARIARY FOLO) (Numista)
- Designer: Clément Serveau (Numista)
- Engraver: Gilbert Poilliot (Numista)
Verso (Reverse)
- Main Scene: Malagasy man wearing a hat in the foreground (Numista)
- Background: River with a boat and a small village (Numista)
- Motifs: Botanical frame (Numista)
- Text: Denomination in Ariary only (ARIARY FOLO) (Numista)
- Designer: Clément Serveau (Numista)
- Engraver: Georges Régnier (Numista)
3. Security Features
- Watermark: Portrait watermark (exact subject not specified in public sources) (Numista)
- Fine Line Intaglio Printing: Complex engraved patterns to deter counterfeiting (Numista)
- Dual Denomination: In Francs and Ariary, reducing confusion during currency transition (Academic Dictionaries)
4. Production Details and Variants
- Printer: Banque de France, Paris (Numista)
- Known Variants:
- Serial Numbers: Printed in black ink, upper left and lower right (Numista)
5. Cultural and Historical Notes
- Dual Denomination Significance: Reflects Madagascar’s transitional phase from the Malagasy Franc to the Ariary as the accounting unit (Academic Dictionaries)
- Artistic Style: Serveau’s design blends Malagasy cultural representation with French colonial-era engraving traditions (Numista)
- Economic Context: Imagery emphasizes rural life, agriculture, and river trade—key elements of Madagascar’s 1960s economy (Numista)
- Collectability: Sought after for its vibrant design and as an example of early post-independence Malagasy currency (Numista)
Summary Table
| Feature | Specification |
|---|---|
| Issuer | Republic of Madagascar |
| Issuing Bank | Institut d’Émission Malgache |
| Period | First Republic |
| Years | 1964–1973 |
| Value | 10 Ariary / 50 Francs |
| Currency | Malagasy Franc |
| Material | Paper |
| Size | 120 × 80 mm |
| Shape | Rectangular |
| Demonetized | Yes |
| Obverse | Woman with hat, botanical frame |
| Reverse | Man with hat, river scene, village |
| Printer | Banque de France |
| Designers | Clément Serveau (design), Gilbert Poilliot & Georges Régnier (engraving) |
| Variants | Miadana (1964–70), Ramaroson (1970–73), Specimens |
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