10 Dollars - Elizabeth II 4th portrait, Anzac Day

Nauru's authority to issue collector coinage has long outpaced its domestic monetary reality — the island abandoned its own currency in 1914 and has used the Australian dollar ever since. This piece is a licensed commemorative, produced for the international collector market rather than any circulating need, a category Nauru has exploited extensively since the 1990s through arrangements with foreign minting agencies.

The .500 silver fineness is notably low for collector issues of this type, a cost-driven choice that places it beneath the .925 standard most buyers expect.