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1 Dollar - Elizabeth II Adelaide Gold

Issuer Cook Islands
Year 2005
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Value 1 Dollar
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Obverse description Right-facing effigy of Queen Elizabeth II wearing a diamond tiara, drop earring, and pearl necklace, as rendered in the third portrait by Raphael David Maklouf. The truncation of the bust is visible at the lower centre of the field, with the engraver's initials RDM present. The circular legend reads ELIZABETH II • COOK ISLANDS in the upper arc, while the lower arc carries the inscriptions 1oz 999 SILVER • 2005 • ONE DOLLAR, all separated by raised bullet points.
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Reverse description Faithful reproduction of the reverse design of the rare 1852 Adelaide Pound gold coin, struck by the Government Assay Office of South Australia during the Australian Gold Rush. At centre, a large ornate Imperial State Crown is depicted in high relief within a scalloped inner circle bordered by a beaded ring. The date 1852 appears below the crown, with the engraver's name J. PAYNE inscribed in small letters beneath it. The outer legend GOVERNMENT ASSAY OFFICE. arcs across the upper field and ADELAIDE. appears along the lower arc, with small floral ornaments flanking the base legend.
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The Adelaide Pound of 1852 was Australia's first gold coin struck on local soil, produced by a private assay office in South Australia after a flood of California-trained prospectors arrived with gold from the newly discovered fields and no practical way to convert it to currency. The colonial government authorized the issue as a stopgap while awaiting official sanction from London — which never came. The coin was declared illegal tender almost immediately upon news reaching Britain, yet continued circulating regardless.

This Cook Islands piece belongs to a long series of commemorative dollars that reproduced famous rarities in silver for collectors unable to access the originals. The Adelaide Pound original now routinely clears six figures at auction.

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