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Total commemorative banknotes issued is under 1,500 pieces. If you have achieved any figures close to this, then you are doing extremely well, as many of the older commemorative notes are hard to find even in poor conditions.

Opinion: Many collectors of commemorative banknotes would have come across with those Somaliland sets overprinted with gold and silver texts with the following wordings - 5th Anniversary of Independence 18 May 1996 [Sanad Gurade 5ee Gobanimadda 18 May 1996]. I believe these are "home made" (or fake) and not authorised by the central bank. My argument is simple. No central bank would have issued an overprint commemorative banknote that the texts are so large that it would cover the two signatures on the note as well as part of the serial numbers. Even if these are genuine notes, then these could be issued as souvenir sheets and not as legal tender. As I said before, this is my opinion. If you have paid top dollars for these, please think about my argument. There is always a sucker around the corner, including me of course!

All comments are most welcome but it has to be subjects related to banknotes or banknotes collection. If not, it will not be approved. Thanks

11 January 2026

...South Ossetia (Georgia) - 100 Zarin Investment Banknote 2025

Republic of South Ossetia
(State of Alania - disputed territory)
 
The National Bank of South Ossetia
Currency - Zarin 

This is a commemorative note of 100 zarin, reportedly issued on 19.09.2025. The note was issued to celebrate the First International Economic Forum (not confirmed).

In case you wonder, South Ossetia is a disputed territory which is internationally recognised as part of Georgia. South Ossetia is located in the central north of Georgia and has a population of approximately 57,000+/-. On 01.08.2008, hostility started when a bomb exploded and targeted a car carrying Georgian peacekeepers. Fighting then broke out between the Georgian army and the people of South Ossetia (South Ossetian separatists) backed by the Russian army. The Russians blamed the incident on the Georgian government and launched a large-scale land, air and sea invasion of Georgia. A ceasefire agreement was reached on 12.08.2008 and Russia announced the withdrawal of troops on 17.08.2008. On 26.08.2008, Russia recognised both South Ossetia and Abkhazia as separate independent states. In response, the Georgian government severed diplomatic relations with Russia. Since the hostility started, Georgia has maintained that both South Ossetia and Abkhazia are Russian-occupied Georgian territories.

As at 2024, only five members of the United Nations recognise South Ossetia as a sovereign state and they are Russia, Nauru, Nicaragua, Syria and Venezuela.

It is reportedly that a total of 20,000 pieces were printed. According to the authority, there are more banknotes for other denominations to come at a later date.

Like those issued by Abkhazia, this note is also an Investment commemorative note. To be honest, I have no idea what this means. 

One Hundred Zarin 


Front - Persian leopard. Mount Burkhokh is printed in the background. This mountain is situated in South Ossetia, and it is also known as Mount Khalatsa or Mount Halaskhokh. 

Signature - Soslan Bekoev (?)

Date - 2025

Watermark - Face of Persian leopard

Sizes - 157.5mm x 69mm

Back - A portrait of Kosta Levanovich Khetagurov (Poet b.1859-1906). An image of the village of Nar where Khetagurov was born. To the bottom left is an Ossetian twelve stringed harp. The Coat of Arms is printed to the far right of the note. 

 

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