20 Cents Magnetic

The 1939 nickel 20 cents was produced just as Japanese pressure on French Indochina was tightening — France itself would fall to Germany within a year, leaving the colonial administration in a precarious position under Vichy authority. The magnetic property distinguishes this issue from earlier non-magnetic nickel 20-cent pieces; the shift in alloy composition reflected wartime metal supply constraints rather than any deliberate monetary policy.

Coins of this type saw relatively brief free circulation before Japanese occupation disrupted normal commerce after 1940.