Madagascar, cut segments of 19th century French 5 Franc pieces (23), different sizes (Gadoury-Cousinié p.207) [23]. Fine and better, an interesting study group (£100-150)

The practice of cutting foreign silver coins into smaller bits with a chisel, to facilitate small change, had been common on Madagascar for over 100 years before King Andrianampoinimerina (1745-1810) passed a law which fixed the corresponding weight and name of each division, e.g. loso (cut half), sasangy (cut third), kirobo (cut quarter), etc. The basis of most of this monnaie coupée was French 5 franc pieces, although Spanish colonial 8 réales, Maria Theresa thalers, Belgian 5 francs and Italian 5 lire were also utilised. The monnaie coupée was declared invalid upon the introduction of a regular coinage in 1905. Further details are sold with the lot