50 Francs Piedfort silver

The Institut d'Émission d'Outre-Mer was established in 1966 to manage currency for French overseas territories in the Pacific — New Caledonia, French Polynesia, and Wallis and Futuna — following the dissolution of the Institut d'Émission des Départements d'Outre-Mer's Pacific mandate. Piedfort issues from the IEOM are rare enough that most major collections treat them as proof-of-concept strikes rather than circulation adjacents; the 1979 date corresponds to a period when the CFP franc was under periodic pressure from commodity price swings tied to New Caledonian nickel exports.