250 Ngultrums Shakyamuni Buddha

Bhutan adopted the Ngultrum as its national currency in 1974, pegging it to the Indian Rupee at par — a monetary arrangement that remains in force today. The Royal Monetary Authority, established that same year, has produced collector-oriented silver issues with increasing regularity since the 1990s, most tied explicitly to Buddhist iconography central to the Drukpa Kagyu tradition that defines Bhutanese state religion. Shakyamuni Buddha, the historical Buddha, occupies the foundational position in that tradition rather than a devotional or esoteric one.

Partial gilding on issues of this type is applied selectively at the Pobjoy or B.H. Mayer mints, both frequent strike partners for Bhutanese commemoratives during this period.