Nagorno‑Karabakh banknotes include unofficial issues associated with the Artsakh dram, reflecting the region’s historical, cultural and identity development over recent decades. The series feature historical figures, Armenian cultural heritage, architectural landmarks, mountainous landscapes, national symbols and motifs representing local identity, accompanying periods of political change, regional initiatives and phases of cultural expression. Due to their design variety, variants, signatures and historical relevance within the Caucasus, Nagorno‑Karabakh paper money is appreciated in international numismatics and sought after by collectors of world and regional banknotes.