5 Francs - Ranavalona III

This coin was struck in Paris the same year France formally declared Madagascar a protectorate, then moved swiftly to full annexation — making Ranavalona III the last sovereign under whose name Malagasy coinage was ever issued. She would be exiled to Réunion in 1897 and later to Algiers, where she died in 1917. The French authorities had no interest in continuing a royal coinage series after the annexation was complete.

The 1895 date makes this a single-year type with no predecessor or successor, struck in a window of a few months between political submission and the total absorption of the island into the French colonial system.