10 Dollars - Elizabeth II Summer Olympics

Niue's Olympic commemorative program in the early 1990s was a straightforward revenue exercise — the island's population of roughly 2,000 gave it no meaningful connection to the Barcelona Games it was nominally commemorating. The issues were produced under licensing arrangements that allowed small Pacific territories to monetize their minting authority, with coins sold almost exclusively to collectors outside Niue.

KM#46 belongs to a crowded field of 1991-dated silver issues from similar jurisdictions, most of which never approached their stated mintage limits.