Country: Madagascar

Overprinted Institut d'émission Malgache (Malagasy Republic)

Denomination: 100 Francs - 20 Ariary, Year: 1961

Obv: On the right, portrait of a woman in a white vest, On the background, market place scene

Rev: Portrait on the left, Coastal landscape, with several sailboats and fishermen on them, On the right, wildebees, Geometrical frame on the left

Ref: P#052

Condition: About Very Fine.

Rarity: Extremely Rare.