Aug 25 - Country of the Month - Mongolia

Hi Guys,

After a sustained absence we are back with Country of the Month.

This month feel free to discuss, show your images or buy coinage from...Mongolia!!

From my friend Gemini (so take at face value!!).

Mongolian coinage spans nearly eight centuries, divided distinctively into ancient/imperial history (the Mongol Empire), 20th-century transitional issues (the Mongolian People's Republic and the introduction of the Tögrög), and modern high-tech numismatic issues.

​1. The Older Era: Imperial and Early 20th Century

​The Mongol Empire (13th–14th Century)
​Coins from the height of the Mongol Empire are deeply historical, highly fragmented by region, and heavily sought after.

Because the empire stretched across Asia, the Middle East, and Eastern Europe, coinage style depended heavily on where it was minted:

​East Asian/Karakorum Issues: Extremely rare cast silver pieces with a square hole in the center featuring Chinese characters (such as Ta Chao Tong Bao, "Great Dynasty Currency").

Some estimated to be from the era of Genghis Khan or Kublai Khan are heavily chased by advanced world-coin specialists.

​Ilkhanate and Golden Horde Coins: Silver dirhams and gold dinars minted in regions like Persia or the Caucasus.

Certain unique types—such as those issued under Regent Töregene depicting an archer on horseback shooting at a star or bird, or rare pictorial copper coins bearing lions—are museum-grade rarities.

​The "Genghis Khan" Factor: True coins explicitly bearing the name of Genghis Khan from authentic mints (like Ghazna or Kunduz) command massive premiums at international auctions, particularly when legends are clear.

​Early Mongolian People’s Republic (1925–1950s)
​Following independence and the establishment of the national currency (the Tögrög, subdivided into möngö), Mongolia introduced localized coin systems featuring the traditional Soyombo symbol.

​Key Rarities: Early 1925–1927 silver and copper-nickel fractional möngö and tögrög pieces struck in Leningrad (Soviet mints) are condition-sensitive.

Finding early-date Soviet-era Mongolian coins in pristine Mint State (MS) or Proof grades is exceptionally difficult because many circulated heavily in a cash-based nomadic economy.

​2. The Newer Era: Modern Numismatics & Commemoratives

​In modern numismatics, Mongolia is a heavyweight. Starting heavily in the 1990s and 2000s, the Bank of Mongolia partnered with world-renowned private mints (most notably Coin Invest Trust / CIT) to produce low-mintage, highly artistic collector coins. These utilize state-of-the-art technologies like Smartminting and ultra-high relief.

​Major Modern Series & Rarities

​The "Mystic Wolf" Series: Highly coveted gold and silver issues focusing on traditional motifs like the wolf, symbolizing strength and endurance in Mongolian culture.

​Nature Protection Series (Started in 2007):

One of the most famous modern series globally. Coins feature endangered fauna of Mongolia (like the Gobi Bear, Wolverine, Long-eared Hedgehog, and Ural Owl) accented with genuine Swarovski crystals for eyes or intricate antique-finish high reliefs.

​Paleontology & Wildlife Editions:

Dinosaurs native to the Gobi Desert (such as the Protoceratops or Velociraptor issues) command intense collector loyalty.

​What Makes a Modern Mongolian Coin a "Rarity"?

​Unlike traditional bullion, modern Mongolian collector issues are valued on specific scarcity metrics:

​Strictly Limited Mintages: Many of the high-relief silver or pure gold pieces are capped at 500 to 2,500 pieces worldwide.

​The Secondary Market "Hit" Status: Series like Nature Protection experienced explosive popularity. Early issues from 2007–2010 that originally sold for modest issue prices now trade for multiples of their original value because global collectors try to complete the set.

​Top-Tier Certification: Because modern Mongolian coins feature delicate, ultra-high-relief fabrics and antique finishes, examples graded PF70 or MS70 by services like NGC or PCGS carry massive premiums.