Artsakh — also known as Nagorno-Karabakh — declared independence from Azerbaijan in 1991, though it has never received recognition from any UN member state. The Central Bank of Artsakh issued commemorative coinage primarily as a revenue mechanism and assertion of institutional legitimacy rather than for any practical monetary function. This piece honors Haik Nahapet, the legendary patriarch considered the founding ancestor of the Armenian people, whose narrative appears in the 5th-century histories of Moses of Khorenatsi.
The issuing authority itself ceased to function following Azerbaijan's military offensive in September 2023, which ended the republic's de facto existence entirely.
Artsakh — also known as Nagorno-Karabakh — declared independence from Azerbaijan in 1991, though it has never received recognition from any UN member state. The Central Bank of Artsakh issued commemorative coinage primarily as a revenue mechanism and assertion of institutional legitimacy rather than for any practical monetary function. This piece honors Haik Nahapet, the legendary patriarch considered the founding ancestor of the Armenian people, whose narrative appears in the 5th-century histories of Moses of Khorenatsi.
The issuing authority itself ceased to function following Azerbaijan's military offensive in September 2023, which ended the republic's de facto existence entirely.