25 Roubles Arctic fox

Arktikugol — a Soviet-era coal-mining trust still operating on Svalbard under a 1920 treaty provision allowing Russian commercial activity on Norwegian-administered territory — issued scrip coinage for use within its Barentsburg settlement, where the ruble held no legal tender status under Norwegian law. These pieces circulated as a closed-economy currency among mine workers who had limited access to Norwegian kroner. The 2013 series was struck not from operational necessity but for the collector market, a commercial pivot the trust made as coal production on the archipelago became increasingly uneconomical.