2 Dollars 50 Cents - Elizabeth II Estonia

Niue's relationship with the international bullion and commemorative coin market is essentially a licensing arrangement — the island's nominal sovereignty provides a legal issuing authority while the actual production, design, and distribution is handled entirely by outside mints and dealers. This particular fractional gold piece falls squarely into that category, part of a broader series of small-format gold issues that use Estonia as their subject.

Estonia restored its monetary independence in 1992 with the kroon, pegged to the Deutsche Mark — a deliberate and symbolic severance from Soviet-era rouble dependence. It adopted the euro in 2011.