50 Luma Antelope

Artsakh — formally the Nagorno-Karabakh Republic — issued this aluminium series in 2004 as a statement of de facto statehood, despite receiving no recognition from any UN member state. The coins never functioned as a practical circulating currency; the Armenian dram handled daily commerce throughout the territory. Mintages were small, production was handled externally, and distribution was heavily oriented toward collectors and diaspora communities rather than cash registers.

The Schön listing reflects how thinly documented this series remains in mainstream Western references.