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2 000 000 Karbovantsiv Independence
| Issuer | National Bank of Ukraine |
|---|---|
| Year | 1996 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Silver (.925) |
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|---|---|
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| Reverse description | Log in to see details |
| Reverse script | Cyrillic |
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| Edge | Reeded |
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| Additional information |
Issued to mark the fifth anniversary of Ukrainian independence, this coin appeared during one of the most turbulent monetary periods in the country's post-Soviet history. The karbovanets — a temporary currency introduced in 1992 to replace Soviet rubles — was already being phased out by 1996, replaced by the hryvnia at a rate of 100,000 karbovantsiv to one hryvnia. A face value of two million on a commemorative coin was not hyperbole; it was simply the arithmetic of a currency that had shed zeros faster than any mint could keep pace with.