20 Francs Essai

Madagascar remained under French administration until 1960, and this essai — a trial strike produced for approval rather than circulation — was part of the broader French Union coinage program managed through Paris in the early 1950s. The Monnaie de Paris routinely produced essais in advance of approved circulation types, and many were never followed by a corresponding business strike at all. Whether this particular trial led to a circulating issue is the more interesting question the KM reference quietly sidesteps.