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20 Ariary
| Issuer | Madagascar |
|---|---|
| Year | 1978 |
| Type | Log in to see details |
| Value | 20 Ariary (20 MGF) |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Weight | Log in to see details |
| Diameter | Log in to see details |
| Thickness | Log in to see details |
| Shape | Log in to see details |
| Technique | Log in to see details |
| Orientation | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Log in to see details |
| Obverse lettering | REPOBLIKA DEMOKRATIKA MALAGASY ariary 20 1978 |
| Reverse description | Log in to see details |
| Reverse script | Latin |
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| Edge | Log in to see details |
| Mint | Log in to see details |
| Mintage | Log in to see details |
| Additional information |
The 1978 silver 20 Ariary belongs to a limited proof or collector series issued under the Didier Ratsiraka government, which had nationalized much of the Malagasy economy and reoriented the country toward Soviet-aligned socialism following the 1975 coup. Collector issues of this period were largely produced for foreign exchange revenue rather than domestic circulation — hard currency the regime badly needed.
KM#14a distinguishes the silver striking from the base-metal circulation type, suggesting this was a deliberate parallel issue for numismatic markets.