200 Apsars Peoples of the Caucasus

Abkhazia's claim to issue currency rests on its 1999 declaration of independence, recognized by only a handful of UN member states — Russia, Nicaragua, Venezuela, Nauru, and Syria among them. The Bank of Abkhazia operates accordingly: its coins are not legal tender in any internationally recognized financial system, making them collector objects by definition rather than monetary instruments.

At 351.5 grams of .925 silver, this is a substantial casting program aimed squarely at the thematic bullion market, where Caucasian ethnographic subjects command consistent demand among Russian and Eastern European collectors.