Watch List notes:

(5 notes) Madagascar, Institut d'Émission Malgache, 100 Francs = 20 Ariary, Not Dated (ca. 1966). Serial #'s N.29 62310, 50826, 10452, 06751, and 17997100 Francs = 20 Ariary notes, no printed date (circa 1966)Issued by Institut d'Émission MalgacheMulticolor; three women spinningBack: TreesWoman's head watermarkPinholes and minor rust stains. Pick 57a (Standard Catalog of World Paper Money: Modern Issues by Cuhaj); www.banknote.ws. Fine.