Madagascar Coins
The official currency of Madagascar is the Malagasy ariary, which was introduced in 1961 following the country's independence. Throughout its history, Madagascar has undergone several changes in its monetary system, reflecting the nation's political and economic transformations.
Monetary history of Madagascar
Prior to the adoption of the ariary, Madagascar used the Malagasy franc as its official currency. This system was established during the French colonial period and continued in use until 1961. The transition from the franc to the ariary was made with an exchange rate of 1 ariary for 5 Malagasy francs, facilitating the adaptation of the population to the new monetary system.
Relevant numismatic milestones
Among the highlights in Malagasy numismatics is the issuance of commemorative coins celebrating the island's rich biodiversity. In 2005, Madagascar launched a series of silver coins depicting endemic species such as the lemur. In addition, in 2017, the country introduced a new series of banknotes with modernized designs and enhanced security features, reflecting Madagascar's commitment to innovation in its monetary system.
| Country | Madagascar |
| Flag | |
| Coin | Malagasy ariary (MGA) |
| 1€ | 5.031,70Ar |
| Continent | Africa |
| Capital city | Antananarivo |
| ISO2 | MG |
| ISO3 | MDG |
| Catalogued coins | 106 |
If you are a passionate collector, this catalog offers the possibility to create your own personal collection. You can add your coins and generate a free PDF catalog from a complete database and our management tools. In addition, once registered, you will have the opportunity to exchange coins with other collectors around the world easily and free of charge.
The most valuable coins
The most valuable Madagascar coins and sought after by collectors according to Foronum statistics are the following:
The valuation of these coins has been achieved through a meticulous algorithm that considers the current market, taking into account aspects such as material, weight, diameter, edge, year of mintage, mint of manufacture and the number of coins produced. Coins with limited mintages and in good condition are usually among the most valuable.
Coin Catalog
50 centimes (French Colony)
1 franc (French Colony)
1 franc (French Colony)
2 francs (French Colony)
5 francs (French Colony)
10 francs (French Colony)
20 francs (French Colony)
1 franc (1/5 ariary)
2 francs (2/5 ariary)
5 francs (1 ariary)
10 francs (FAO)
10 francs (FAO)
20 francs (FAO)
10 ariary (FAO)
10 ariary (FAO)
10 ariary (FAO - Silver)
20 ariary
20 ariary (FAO)
20 ariary
20 ariary
Other resources to find coins and banknotes of Madagascar
Can't find what you are looking for? Take a look at our coin finder and speed up your searches within the collections of all collectors, or if you prefer you can search directly in the list of coin collectors and access their profile to see their collections.