Nagorno-Karabakh (Artsakh) 10 Dram 2004 Pick 902 UNC Banknote
The Nagorno-Karabakh (Artsakh) 10 Dram 2004 banknote (Pick 902) is one of only two banknotes issued by the self-declared Republic of Artsakh in 2004. Although it circulated only on a very limited basis, it has become a highly sought-after collectible due to its historical significance and distinctive religious artwork.
Issued by the Ministry of Finance of Nagorno-Karabakh, the note combines Christian iconography, medieval Armenian architecture and traditional Karabakh symbols, making it one of the most unique modern banknotes ever produced.
In UNC (Uncirculated) condition, it is an exceptional addition to any world banknote collection.
Historical Background
Nagorno-Karabakh, also known as Artsakh by Armenians, declared independence in the early 1990s following the dissolution of the Soviet Union. In 2004, the republic issued its first and only banknote series consisting of 2 Dram and 10 Dram denominations.
Despite their official release, these notes saw very limited circulation and were mainly acquired by collectors. Following the dissolution of the Republic of Artsakh in 2024, these banknotes became important historical collectibles representing a short-lived political entity.
Technical Specifications
- Country: Nagorno-Karabakh (Artsakh)
- Denomination: 10 Dram
- Year: 2004
- Pick Number: P-902
- Condition: Uncirculated (UNC)
- Issuer: Ministry of Finance
- Currency: Dram
- Material: Paper
- Dimensions: 165 × 90 mm
- Status: Demonetised (2024)
Obverse
The obverse features:
- Jesus Christ holding the Gospels and giving a blessing
- Dadivank Monastery, one of the region’s most important medieval Armenian monasteries
- National coat of arms
- Decorative Armenian-style ornamentation
- Serial numbers
The design emphasizes the region’s rich Christian heritage and historical architecture.
Reverse
The reverse depicts:
- The ancient Hudaferin Bridge
- A traditional Karabakh carpet
- A wine barrel with grapes, symbolising the region’s winemaking tradition
- National coat of arms
- Decorative security patterns
These elements celebrate the cultural identity and historical traditions of Karabakh.
Security Features
- Watermark with repeating security text
- Fine-line guilloche patterns
- Intaglio printing
- Colour-shifting security design
- Serial numbering
- Overlapping coat of arms used as an anti-counterfeiting feature
Why Add This Banknote to Your Collection?
The Nagorno-Karabakh 10 Dram 2004 Pick 902 UNC is one of the most unusual modern banknotes available. Its combination of religious artwork, medieval Armenian monuments and historical significance makes it a favourite among collectors of rare and politically significant issues.
Perfect for:
- Rare world banknote collections
- Caucasus currency collections
- Christian-themed banknotes
- Armenian history collections
- Political history collections
- UNC paper money collections
Collector’s Note
Only the 2 Dram and 10 Dram banknotes were issued by the Republic of Artsakh in 2004. The 10 Dram is the higher denomination of the series and is widely regarded as the most iconic banknote from this short-lived republic. Since Artsakh ceased to exist as a self-governing entity in 2024, collector interest in these notes has continued to grow.
