20 Cents

The Banque de l'Indochine received its founding concession in 1875, but the piastre and its fractional coinage weren't authorized for circulation until the monetary decree of 1885 — the same year this type begins. France needed a unified silver currency that could compete directly with the Mexican peso and Chinese sycee silver then dominating trade across Cochinchina, Tonkin, and Annam. The 20-centime piece was struck at the Paris Mint, with the Treasure of Indochina bearing the cost of production.

The .900 fineness was chosen deliberately to match the Maria Theresa thaler's credibility in regional markets.