20 000 Ariary Nosy Boraha

Nosy Boraha — known to Europeans as Île Sainte-Marie — served as a base for Indian Ocean pirates during the late 17th and early 18th centuries, most famously hosting figures like William Kidd and Adam Baldridge, who ran a trading post there supplying pirate crews. The island briefly hosted a short-lived pirate utopia called Libertatia, though historians dispute whether that settlement was real or partly mythologized by Daniel Defoe.

Madagascar has issued several collector pieces tied to its islands' pirate history, and this silver-plated copper-nickel piece falls squarely in that numismatic tourism genre.