2 Francs

Madagascar was under French colonial administration when this note was issued, but the "Dependencies" in the issuing authority's name referred specifically to the Comoros archipelago, which fell under the same administrative umbrella until much later. The 1916 date places this squarely in the wartime period when metallic coinage was being hoarded or melted across French territories, forcing colonial administrations to issue emergency paper in denominations normally handled by coin.

The series is genuinely scarce in any condition — wartime paper quality was poor, and colonial small-denomination notes rarely survived ordinary use, let alone a century in a tropical climate.