Watch List notes:

MADAGASCAR: 25 centimes jeton (0.68g), ND [1942], cf. Gadoury 1.1 (1990), 20mm aluminum 25 centimes French Military jeton, GROUPE / DES / BATTERIES / DE / DIÉGO-SUAREZ / CERCLE / DES / SOUS-OFFICERS // large "25Cs", not listed in Elie or Lecompte, some oxidation on reverse, plain edge, VF-EF, RR. Diégo-Suarez was renamed Antsiranana in 1975. When researching this piece, no examples were found on search engines and we could find no example of this denomination in any reference.

Estimate: 250-350 USD