100 francs 1963

Common. While this specific PMG 67 example commands premium pricing ($109-$123.50 based on recent eBay sales), the underlying note type itself is common in the market. Multiple examples in various grades regularly appear at auction with consistent sales, and the catalog value of $125 for UNC specimens reflects steady but not exceptional collector demand. The 1963 issue had a substantial print run typical of regular circulation notes. The grade premium reflects the rarity of finding this note in superb condition rather than any inherent scarcity of the type itself.

This note was issued during the critical period of 1963 when Comoros was transitioning from French colonial rule, as evidenced by the colonial-era architectural imagery (Palace of the Queen, colonial buildings, and harbor scenes) prominently featured on both sides. The Banque de Madagascar et des Comores served as the shared issuing authority for both Madagascar and the Comoros archipelago during this period of political transition. The red overprint reading 'COMORES' on the base Madagascar design (#46) represents the specific Comorian issue, marking the islands' gradual move toward independence (achieved in 1975) and their own monetary identity.

The obverse features a classical male portrait in right-facing profile occupying the center-right area, wearing light colonial-period clothing, set against a background depicting the Palace of the Queen of Tananarive with colonial architecture and a church spire visible on the skyline. The lower left corner includes allegorical representations of agricultural abundance (fruits and vegetables), symbolizing Madagascar and Comoros' natural resources. An octagonal watermark area appears on the left side with decorative geometric borders on the right. The reverse portrays another classical male profile facing left, set within a harbor landscape featuring traditional sailing vessels, mountains, and cattle in the lower right—representing the maritime and pastoral economy of the islands. Both sides employ fine ornamental borders with geometric patterns in blue and brown tones, typical of the colonial banknote aesthetic of the period.

FRONT: 'BANQUE DE MADAGASCAR ET DES COMORES' (Bank of Madagascar and Comoros), 'CENT FRANCS' (One Hundred Francs), '100' (denomination), 'COMORES' (Comoros - red overprint), 'LE DIRECTEUR GENERAL ADJOINT' (Assistant Director General), engraver signatures 'LORAIN FEC.' and 'G. BELTRAND SC.', serial number 'Z.2967 217'. BACK: 'BANQUE DE MADAGASCAR ET DES COMORES' (Bank of Madagascar and Comoros), '100' (denomination), 'LE CONTREFACTEUR SERA PUNI DES TRAVAUX FORCES A PERPETUITE' (The counterfeiter shall be punished with forced labor for life), engraver signatures 'LORAIN FEC.' and 'DUBREUIL SC.'

This note was produced using fine line engraving, the standard security printing technique for this era, as evidenced by the detailed portraiture, intricate background scenic work, and complex geometric border designs visible throughout both sides. The signatures of engravers Lorain, G. Beltrand, and Dubreuil are documented on the note. The multicolored printing with precise color separation and the watermark security feature indicate production by a specialized security printer, likely a European firm such as Bradbury Wilkinson or similar institution with colonial-period contracts.

This note is catalogued as Pick 3b, with a variant P-3as also recorded in the PMG population reports. The 'b' designation likely indicates a specific signature combination or printing variant; this example bears the signature titles 'LE DIRECTEUR GENERAL ADJOINT' and 'LE PRESIDENT DIRECTEUR GENERAL.' The red 'COMORES' overprint on the Madagascar #46 base design is definitive for the Comoran issue. Serial number Z.2967 217 and the PMG certification identifier (1908127-020) are specific to this individual note. The engraver signatures (Lorain, Beltrand on obverse; Lorain, Dubreuil on reverse) should be verified against known signature combinations for variety classification.