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0,50 Franc

Issuer Government of Madagascar and Dependencies
Year 1916
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Value ½ Franc
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Obverse description The obverse reproduces a 50-centime Madagascar postage stamp vignette mounted on cardboard, printed in blue and black, with a central intaglio scene of Malagasy workers in a rice field with a townscape in the background. The ornate frame carries the legends 'POSTES' at top, 'R' and 'F' at upper corners, and 'MADAGASCAR ET DÉPENDANCES' along the lower border, with the denomination '50c.' displayed in a box at lower left. The initials 'AJ' appear at lower right of the vignette.
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Reverse lettering Lasiroa
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Comments

Madagascar's 1916 fractional emergency issues — the 0,50 Franc among them — were produced on cardboard because the wartime shipping disruption between France and its colonial territories had effectively cut off the supply of conventional banknote paper. The colonial administration improvised. These pieces functioned as emergency small-change substitutes at a moment when metallic coinage had largely disappeared from circulation, hoarded or melted down during the war years.

Cardboard deteriorates readily under tropical humidity, and Madagascar's climate was not kind to these. Intact survivors are genuinely uncommon.