50 Hryven Oranta

Ukraine's first gold coinage program launched in 1995–96, just years after independence, with the National Bank commissioning a series of small-denomination bullion and commemorative pieces to establish the country's presence in the numismatic market. The Oranta issue was among the earliest, drawing on one of the most enduring images in Ukrainian Orthodox iconography — though describing that here would be redundant.

Mintage for this type was extremely limited, keeping it scarce on the secondary market. The Fresneau reference Fr#4 places it at the very beginning of independent Ukraine's gold coinage sequence.