25 Kopiiok without mintmark, berries with dots inside

Ukraine's first post-Soviet coinage was prepared in 1992 but held from general circulation until 1996, when the hryvnia was finally introduced as a stable replacement for the karbovanets. The 1992-dated pieces were struck in anticipation of a monetary transition that took four years longer than planned, largely due to the hyperinflationary chaos consuming the former Soviet republics in the early 1990s. Ukraine's consumer price inflation exceeded 10,000% in 1993 alone.

The without-mintmark variety reflects early production before the Luhansk Mint received its official designation — a distinction that now separates this scarcer variant from the more common marked issues in specialist collections.