25 000 Tögrög Wild horse

Mongolia's wild horse coinage of the mid-1990s coincides with the country's post-Soviet economic restructuring, when the Bank of Mongolia began issuing high-denomination gold and silver commemoratives partly as hard-currency earners rather than domestic circulation pieces. At 15.59 grams of .9999 gold, this was clearly aimed at the collector export market — the tögrög itself was in no condition to support a coin of this value domestically.

The Przewalski's horse, to which this issue is dedicated, had been declared extinct in the wild by the early 1970s. Reintroduction programs, including releases into the Mongolian steppe at Hustai Nuruu beginning in 1992, were ongoing at the exact moment this coin was struck.