100 Dram Trans-Caucasian Grey Bear

Armenia's wildlife coin program of the mid-2000s drew on CITES Appendix listings to select subjects, and the Caucasian brown bear — sometimes marketed under the grizzled "Trans-Caucasian Grey" designation — was classified as a regionally vulnerable population distinct from broader Eurasian brown bear stocks. The Central Bank issued this as part of a broader commemorative series that also served a collector export function, with Armenian silver issues of this period distributed heavily through European and American numismatic channels rather than domestic circulation.

KM#119 mintage figures for this issue remain poorly documented in standard references.