1 Dollar - Elizabeth II Papilio Machaon

Niue's legal tender coinage exists almost entirely as a vehicle for foreign collector programs — the island's own monetary needs are met by New Zealand dollars, leaving its nominal dollar issues free to pursue whatever subject matter the licensing market will bear. The Papilio machaon, the Old World swallowtail, was chosen as part of a broader nature series aimed squarely at the European collector market, where the species is native and recognizable.

KM#652 is one of dozens of nearly identical Niue issues from this period sharing the same planchet specification — a deliberate standardization that kept production costs predictable across the series.