25 Zarin Karaset Transfiguration Church

South Ossetia has no internationally recognized central bank with legal authority to issue currency — the territory operates almost entirely on the Russian ruble under a 2009 monetary agreement with Moscow. The "National Bank of South Ossetia" produces these pieces outside any standard numismatic treaty framework, meaning they carry no legal tender status recognized beyond the issuing body itself. Collectors treat them as fantasy issues or exonumia rather than sovereign coinage.

The Transfiguration Church in Tskhinvali sustained significant damage during the August 2008 war with Georgia.