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25 Zarin Special Military Operation
| Issuer | National Bank of South Ossetia |
|---|---|
| Year | 2023 |
| Type | Non-circulating coin |
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| Reverse script | Cyrillic, Latin |
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| Mintage | 2023 ММД - Prooflike |
| Additional information |
South Ossetia has no internationally recognized central bank in any functional sense — the "National Bank of South Ossetia" is a para-state institution operating within a territory recognized by only a handful of UN members, Russia chief among them. These silver issues are produced essentially as novelty bullion, not circulating currency, and exist primarily for the Russian collector market that emerged around the 2022 invasion of Ukraine. The "Special Military Operation" framing is lifted directly from the Kremlin's official designation for that conflict, the use of the word "war" remaining legally restricted in Russia at the time this piece was struck.