1 Dollar - Elizabeth II Lady with an Ermine

Tokelau's coinage program is administered through New Zealand, which has issued collector pieces on the territory's behalf since the 1970s. The islands have no domestic mint, no circulating coinage economy to speak of, and a population under 1,500 — making virtually every Tokelau-branded coin a direct-to-collector product with negligible circulation history. This piece, silver-plated copper-nickel rather than solid silver, sits at the budget end of that market.

The Lady with an Ermine connection points to Leonardo da Vinci's c.1489–1490 portrait, believed to depict Cecilia Gallerani, mistress of Ludovico Sforza of Milan.