10 000 Dram Liberation of Shushi

Shushi — known to Azerbaijanis as Şuşa — fell to Armenian forces on May 8–9, 1992, a turning point in the First Nagorno-Karabakh War that effectively secured the Lachin corridor and doomed Azerbaijani positions throughout the region. The operation remains contested in its details, with both sides disputing casualty figures and the sequence of events. Armenia issued this commemorative twenty years after the battle, in 2012, while the broader territorial dispute remained legally unresolved under international law — as it still was when Azerbaijan retook the city in November 2020.