500 Tögrög Majestic Eagle

Mongolia's "Majestic Eagle" falls within a long-running series of Mongolian wildlife coins aimed squarely at the international collector market, produced under contract by foreign mints rather than domestically. These issues are legal tender in name only — circulation was never the intent, and the Bank of Mongolia's involvement is largely a licensing arrangement.

KM#404 is well-documented in the Krause catalog but draws little numismatic scholarship on its own.