500 Dram Noah's Ark

Armenia's switch to hybrid substrate for this 2017 issue was part of a broader G+D push to extend note lifespan in circulation — hybrid polymer-paper constructions resist folding damage better than pure cotton stock while remaining compatible with existing banknote processing equipment. Suren Simonyan's engraving credit is notable; Armenian-trained engravers working on domestic issues are comparatively rare in modern note production, where engraving is usually handled in-house by the printer.

The watermark remains the primary listed security feature, modest by contemporary standards for a note of this denomination.