HISTORY of COINS in AZERBAIJANBack to Main

Currency of the Khanates
(18th Century-19th Century C.E.)

With the deterioration of the Safavid state in the 18th century, Azerbaijan split into Khanate states, each controlled by a khan. The khans in some cases functioned independently and in other cases nominally reported to the Safavid, and later Afshar and Qajar, shah dynasties, all of which were Azerbaijani Turkic. Copper and silver currency were locally minted, with no regulation on the value of the coins outside of their locally produced market.

Khanate Coin

Khanate coin (obverse). From the Joel and Linda Forman Collection, Karabakh Foundation.
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COINS and CURRENCY of AZERBAIJAN

Azerbaijan’s historic coinage reflects the nation's complex political history, from ancient times to the modern day. At the historic crossroads between Europe, Asia, and the Middle East, the design and format of Azerbaijani coins and currency have been greatly influenced by frequent invasions and political upheaval in the region. Hellenic, Roman, Parthian, Persian, Arabic, Turkic, and Russian influences can be seen throughout nearly 3,000 years of coinage. Today, Azerbaijan’s coinage reflects the diverse history and culture of the country.