100 Dram Chess Olympiad

The 32nd Chess Olympiad was held in Yerevan in 1996, Armenia's first time hosting the event as an independent nation — a deliberate assertion of cultural identity given the country's deep chess tradition and the fact that several world-class Armenian grandmasters had previously competed under the Soviet flag. The Armenian team finished fourth.

This is among the earliest commemorative silver issues struck under the Central Bank following independence in 1991, when Armenia was still establishing its mint relationships and contracting production abroad.