Spitzbergen, also known as Svalbard, is a group of islands in the Artic Ocean. After hundreds of years of disputes over whaling and mining privileges, a treaty was signed in 1920 granting Norway sovereignty. Some 20 other nations, including the United States, were granted mining and other rights by the treaty. Today, only Russia and Norway continue to exercise their rights. A Russian company, Artikugol, which owns mines on the islands struck this set of four coins, 10, 25, 50 and 100 Rubles, in 1993 for use at its facilities. A Polar bear standing on top of the world, is shown on the reverse of each coin.
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