elf New Caledonia French 1 Franc 1977 IEOM Kagu Bird

Description

KM 10, multi-year type, from an unusual location, issued for New Caledonia as a French Overseas Territory. New Caledonia is made up of about 25 islands in the Pacific, east of Australia. Quarter dollar size aluminum coin, with a Kagu Bird on the reverse.
The coin was issued by the Institut d'emission d'outre-mer (Overseas Issuing Institute). The CFP franc (originally stood for "French Colonies of the Pacific", but the official name has been changed twice without affecting the initials) was established in 1945, to prevent the French colonies (French Polynesia, New Caledonia and New Hebrides) from incurring the same massive devaluations that the French franc incurred due to World War II (from 1949 to 1960, the CFP franc was worth 5.5 French francs!)
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