10 Dollars - Charles III Ram of Calvary

Niue functions as a self-governing state in free association with New Zealand, and its use of the New Zealand dollar as legal tender makes these large-format silver issues a straightforward licensing arrangement rather than genuine monetary policy. The RAM — Royal Australian Mint — struck this piece under contract, as Niue has no mint of its own and relies entirely on foreign facilities for its coinage program.

The "Calvary" series from RAM has leaned heavily into the bullion collector market since Charles III's accession in 2022, with this being among the earlier portrait issues on the 5 oz format bearing his effigy.